521 N Formosa Avenue, Los Angeles, California 90036, Los Angeles, 90036 - 4 bed, 5 bath
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Los Angeles, California 90036
Analysis of 521 N Formosa Avenue, Los Angeles, California 90036 reveals a property with a current list price of $3,099,000, which is 34% above the estimated $2,040,875 Fair Market Value. Buyers should carefully evaluate the pricing and consider negotiation opportunities. The property maintains a Excellent Condition Rating (95/100), indicating excellent structural integrity and modern finishes throughout. This turnkey property requires minimal updates and is ready for immediate occupancy. Located in a high-demand neighborhood within the Los Angeles Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 521 N Formosa Avenue Subject | $3,099,000* List Price | 4 | 5 | 2,724 | $749 | - |
A 613 N Gardner Street Sold | $3,135,000 | 4 | 5 | 3,127 | $1,003 | 0.4 mi |
B 535 N Sierra Bonita Avenue Sold | $2,700,000 | 5 | 6 | 2,725 | $991 | 0.5 mi |
C 110 S Fuller Avenue Sold | $2,190,000 | 5 | 5 | 2,659 | $824 | 0.6 mi |
D 342 N Citrus Avenue Sold | $3,345,000 | 6 | 5 | 3,165 | $1,057 | 0.5 mi |
E 542 N Curson Avenue Sold | $2,375,000 | 4 | 5 | 2,431 | $977 | 0.5 mi |
F 633 N Formosa Avenue Sold | $2,925,000 | 5 | 5 | 3,546 | $825 | 0.1 mi |
G 646 N Sierra Bonita Avenue Active | $2,500,000 List Price | 4 | 4 | 2,646 | $945 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
This property has undergone a 'Down-To-The-Studs-Pretty-Much-New' renovation, as explicitly stated in the description. All major systems (plumbing, electrical, roof, AC) are new, and the kitchen features abundant marble, custom cabinets, and professional appliances. Bathrooms are designer-grade with modern fixtures, soaking tubs, and large showers. Wide plank hardwood floors and exquisite light fixtures are present throughout. The ADU and outdoor amenities, including a brand new pool and entertaining center, are also new and high-end. This aligns perfectly with the 'Excellent' criteria of being extensively renovated within 5 years with virtually new components and no deferred maintenance.
The property has undergone an extensive, high-quality 'down-to-the-studs' renovation, including all new major systems (plumbing, electrical, roof, AC), ensuring modern functionality and reduced maintenance concerns.
Features a 'WOW kitchen' with abundant marble and professional appliances, a designer primary suite, wide plank hardwood floors, ultra-high ceilings, and exquisite fixtures, reflecting a no-expense-spared approach.
The Accessory Dwelling Unit (ADU) is a significant asset, offering a bedroom, bath, and an 'over-the-top entertaining center' with a full outdoor kitchen setup, providing flexibility for guests, rental income, or dedicated recreational space.
The property's list price of $3.099M is considerably higher than the estimated market value of approximately $2.04M, suggesting a potential challenge in justifying the asking price based on current data.
The description explicitly notes that the ADU's bedroom has 'no closet,' which could be a functional drawback for its use as a traditional bedroom or for potential rental income, as it may not meet all tenant expectations.
While extensively renovated, some comparative properties with similar or larger square footage and/or higher bedroom counts (including brand new construction) have recently sold for less or similar prices, potentially making the current property's price per square foot less competitive.
Seller financing is available and offered. Please call for details! Hip, sleek, Down-To-The-Studs-Pretty-Much-New reimagined Single Story Spanish with 3 beds/3.5 baths in the main house and 1 bed (no closet)/1 bath in the ADU. Gated for privacy and security. Handsome enclosed front courtyard with fire feature. Living room surrounded by tall windows, high beamed ceiling and majestic fireplace opens to large dining room. WOW kitchen with abundant marble, custom cabinets/storage, pro appliances, pot filler, large pantry and broom closet. Separate breakfast room with built-in banquette. Primary suite has a large walk-in primary closet, designer bath with double vanities, soaking tub, large shower. Both primary suite and adjacent nursery open to the backyard with floor-to-ceiling glass doors. Ultra high ceilings and extra deep windows make for an especially regal spacious light filled space. Tall interior doors with handsome hardware, wide plank hardwood floors, exquisite fixtures throughout. AV system for surround sound controlled by iPad or phone, alarm TV's , CCTV camera surveillance with 8 cameras. Backyard is surrounded by brand new ficus trees and features a large swimmers pool with a baja step, jacuzzi, and waterfall. ADU with over-the-top entertaining center with BBQ/rotisserie, double burners, sink, garbage can drawers, bar area with fridge, ice maker, storage doors. Gym or bedroom with adjacent bath. Roof top deck with views of The Hills and The Hollywood Sign. All new systems including plumbing, electrical, roof, AC with linear vents. ADU had one existing garage wall and is otherwise new. Pool is brand new. No expense spared renovation intended for the owners. Absolutely magical!
No exterior & parking available.
Grades K-5 • 1.0 mi
Grades K-5 • 1.2 mi
Grades K-6 • 1.2 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 5.0 | 3.0 | 67% |
| Square foot | 2,724 | 2,431 | 64% |
| Lot Size | 6,162 | 6,948 | 27% |
| Price | $3.10M | $2.20M | 78% |
| Price per sq ft | $1.1K | $955 | 91% |
| Built year | 1925 | 1926 | 42% |
| HOA | $0 | $0 | 50% |
| Days on market | 404 | 185 | 0% |
Mar 21, 2022
$2,912,000
Public Record
Dec 24, 2019
$1,290,000
Public Record