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243 S Formosa Avenue, Los Angeles, California 90036, Los Angeles, 90036 - 4 bed, 3 bath

243 S Formosa Avenue, Los Angeles, California 90036 home-pic-0
ACTIVE$2,095,000$2,461/sqft
Est. Value: $2,384,326
13%
BelowEstimate
243 S Formosa Avenue, Los Angeles, California 90036
4Beds
3Baths
2,461Sqft
7,622Lot

Price Vs. Estimate

The estimated value ($2,384,325.75) is $289,325.75 (13%) higher than the list price ($2,095,000). This property may be underpriced.

Key pros and cons

Top Pros:
Premier Location & School District: Ideally situated on a tree-lined street in the highly desirable Third Street School District (rated 8 for elementary), offering a premier location in Hancock Park.
Top Cons:
MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =7622, other record lot size in square feet = 7697. Living area discrepancy between mls listing and other public or private record. mls listing living area = 2461, other record living area = 2012.

Compared to the nearby listings

Price:$2.10M vs avg $2.17M ($-80,000)44%
Size:2,461 sqft vs avg 2,508 sqft49%
Price/sqft:$851 vs avg $95036%

More Insights

Built in 1946 (80 years old).
Condition: Despite being built in 1946, this property has undergone extensive and high-quality renovations within the last two years. The kitchen was beautifully reimagined in 2023 with modern, sleek cabinetry, high-end stainless steel appliances, and marble countertops, presenting as virtually new. Bathrooms have also been thoughtfully remodeled with contemporary fixtures and finishes. Refinished original hardwood floors and custom closets (2024) further enhance the property's move-in ready status. While the absence of central air conditioning in the main house and the age of some core systems are noted, the significant recent updates to critical areas like the kitchen, bathrooms, and flooring, combined with the overall pristine condition and modern aesthetic, align perfectly with the 'extensively renovated within 5 years' criteria for an 'Excellent' rating.
Year Built
1946
Close
-
List price
$2.1M
Original List price
$2.1M
Price/Sqft
$851
HOA
-
Days on market
-
Sold On
-
MLS number
26633673
Home ConditionExcellent
Features
Good View: Trees/Woods
Patio
ViewTrees/Woods

About this home

243 S Formosa is a beautifully maintained single-story residence offering 3 bedrooms plus a den (optional 4th bedroom) and 3.5 bathrooms, ideally situated on a tree-lined street located in the desirable Third Street School District. The home seamlessly blends timeless original character with thoughtfully remodeled kitchen and bathrooms designed for modern living. Step through the character-rich front door into an inviting entry with an arched alcove that opens to a stunning living room, where a bay picture window immediately draws the eye. Refinished original hardwood floors throughout add warmth, depth, and charm. The beautifully reimagined kitchen was renovated in 2023 with a rich, tasteful aesthetic and exceptional storage. Adjacent to the dining area is a cozy family room that opens directly to the backyard, creating an ideal flow for everyday living and entertaining. The primary suite features a private bathroom, walk-in closet, and French doors leading to the patio. Secondary bedrooms are equally well-appointed, each offering comfort and rare-for-the-area storage, including custom closets completed in 2024. The layout is impressively functional and well balanced. A detached garage provides flexible space for a guest room, office, studio, and an additional large storage room. The expansive backyard (room for a large pool) is hedged for privacy and features terracotta-tiled patios, perfect for entertaining or relaxing. Truly move-in ready, this home offers exceptional flow, generous outdoor space, and outstanding closet storage an uncommon find at this price point in Hancock Park. Ideal for a first-time buyer, those seeking to downsize to a single-level home, or anyone looking for a special residence in a premier location. A home with wonderful energy and a place you'll be proud to call your own.

N
Nechama Jacobs
Listing Agent

Nearby schools

8/10
Third Street Elementary School
Public,•K-5•0.7mi
7/10
Hancock Park Elementary School
Public,•K-5•0.8mi
2/10
Vine Street Elementary School
Public,•K-6•1.7mi
7/10
John Burroughs Middle School
Public,•6-8•0.7mi
3/10
Laurel Elementary School
Public,•K-8•1.6mi
7/10
Fairfax Senior High School
Public,•9-12•1.3mi

Price History

Date
Event
Price
09/03/13
Sold
$1,212,000
05/14/04
Sold
$1,010,000
03/25/02
Sold
$495,000
Condition Rating
Excellent
Despite being built in 1946, this property has undergone extensive and high-quality renovations within the last two years. The kitchen was beautifully reimagined in 2023 with modern, sleek cabinetry, high-end stainless steel appliances, and marble countertops, presenting as virtually new. Bathrooms have also been thoughtfully remodeled with contemporary fixtures and finishes. Refinished original hardwood floors and custom closets (2024) further enhance the property's move-in ready status. While the absence of central air conditioning in the main house and the age of some core systems are noted, the significant recent updates to critical areas like the kitchen, bathrooms, and flooring, combined with the overall pristine condition and modern aesthetic, align perfectly with the 'extensively renovated within 5 years' criteria for an 'Excellent' rating.
Pros & Cons

Pros

Premier Location & School District: Ideally situated on a tree-lined street in the highly desirable Third Street School District (rated 8 for elementary), offering a premier location in Hancock Park.
Extensively Remodeled & Move-in Ready: Thoughtfully remodeled kitchen (2023) and bathrooms, refinished original hardwood floors, and custom closets (2024) ensure the home is truly move-in ready, blending character with modern living.
Functional Layout & Versatile Spaces: A well-balanced single-story layout with 3 bedrooms plus a den (optional 4th), 3.5 bathrooms, and a detached garage offering flexible space for a guest room, office, or studio.
Generous & Private Outdoor Living: An expansive 7,622 sqft backyard, hedged for privacy, features terracotta-tiled patios and ample room for a large pool, perfect for entertaining and relaxation.
Exceptional Storage Solutions: The property boasts exceptional storage in the beautifully reimagined kitchen and rare-for-the-area storage, including custom closets completed in 2024 in secondary bedrooms.

Cons

MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =7622, other record lot size in square feet = 7697. Living area discrepancy between mls listing and other public or private record. mls listing living area = 2461, other record living area = 2012.
Absence of Central Air Conditioning: The property description does not mention a cooling system, which could be a significant comfort concern for buyers in Los Angeles' climate, potentially requiring a future installation.
Age of Core Systems: While cosmetically updated, the 1946 build year suggests that some core systems (e.g., plumbing, electrical) may be original or older, potentially requiring future maintenance or upgrades not explicitly covered by recent renovations.
Limited Vertical Expansion Potential: As a single-story residence, future expansion options are primarily horizontal, potentially limiting the ability to add significant square footage without impacting the generous backyard space or requiring complex structural changes for a second story.
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