535 N Formosa Avenue, Los Angeles, California 90036, Los Angeles, 90036 - 8 bed, 9 bath
ACTIVE$4,745,000
535 N Formosa Avenue, Los Angeles, California 90036
8Beds
9Baths
5,112Sqft
7,703Lot
Price Vs. Estimate
The estimated value ($4,411,393.91) is $333,606.09 (7%) lower than the list price ($4,745,000). This property may be overpriced.
Key pros and cons
Top Pros:
Brand New Construction & Modern Design: Built in 2023, this contemporary estate features dramatic high ceilings, a sun-filled open layout, and designer finishes throughout, offering turn-key luxury.
Top Cons:
Multiple Price Reductions: The property has undergone several price reductions, including a recent $200K cut, which may indicate market resistance or an initial overestimation of value.
Compared to the nearby listings
Price:$4.75M vs avg $2.22M (+$2,529,000)96%
Size:5,112 sqft vs avg 2,508 sqft96%
Price/sqft:$928 vs avg $95545%
More Insights
Built in 2023 (2 years old).
Condition: This property was built in 2023, making it brand new. The description highlights a 'gourmet kosher kitchen with a 14-foot island and Sub-Zero appliances' and 'designer finishes throughout.' The images confirm a pristine, contemporary aesthetic with high-end materials and fixtures in both the kitchen and bathrooms. Features include light wood-look flooring, recessed lighting, modern flat-panel cabinetry, quartz countertops, marble-look tiling, and new appliances. There is no visible wear and tear, and all components appear new and meet current quality standards, aligning perfectly with the 'Excellent' criteria.
Year Built
2023
Close
-
List price
$4.75M
Original List price
$4.95M
Price/Sqft
$928
HOA
-
Days on market
-
Sold On
-
MLS number
25565075
Home ConditionExcellent
Features
Good View: Mountain(s)
Deck
Patio
ViewMountain(s)
About this home
****200K Reduced to sell*** Welcome to 535 N Formosa Ave, a stunning 2023 contemporary estate in one of LA's most desirable neighborhoods. This elegant two-story home features six bedrooms, seven bathrooms, and an 800 sq ft detached ADU with two more beds and baths perfect for guests or rental income. Enjoy dramatic high ceilings, a sun-filled open layout, a gourmet kosher kitchen with a 14-foot island and Sub-Zero appliances, plus designer finishes throughout. On a spacious 7,700 sq ft lot, you'll be minutes from top schools, local temples, kosher markets, and LA hotspots like The Grove and Melrose. Don't miss this rare luxury home!
Nearby schools
8/10
Third Street Elementary School
Public,•K-5•1.0mi
7/10
Hancock Park Elementary School
Public,•K-5•1.2mi
2/10
Vine Street Elementary School
Public,•K-6•1.2mi
3/10
Laurel Elementary School
Public,•K-8•1.1mi
7/10
John Burroughs Middle School
Public,•6-8•1.3mi
7/10
Fairfax Senior High School
Public,•9-12•0.8mi
Price History
Date
Event
Price
10/26/21
Sold
$2,000,000
Condition Rating
Excellent
This property was built in 2023, making it brand new. The description highlights a 'gourmet kosher kitchen with a 14-foot island and Sub-Zero appliances' and 'designer finishes throughout.' The images confirm a pristine, contemporary aesthetic with high-end materials and fixtures in both the kitchen and bathrooms. Features include light wood-look flooring, recessed lighting, modern flat-panel cabinetry, quartz countertops, marble-look tiling, and new appliances. There is no visible wear and tear, and all components appear new and meet current quality standards, aligning perfectly with the 'Excellent' criteria.
Pros & Cons
Pros
Brand New Construction & Modern Design: Built in 2023, this contemporary estate features dramatic high ceilings, a sun-filled open layout, and designer finishes throughout, offering turn-key luxury.
Prime Location & Community Access: Located in a highly desirable Los Angeles neighborhood (Beverly Center-Miracle Mile), minutes from top schools, local temples, kosher markets, and popular LA hotspots like The Grove and Melrose.
Detached ADU with Income Potential: Includes an 800 sq ft detached Accessory Dwelling Unit (ADU) with two beds and baths, perfect for guests, multi-generational living, or generating significant rental income.
Gourmet Kosher Kitchen & High-End Appliances: Features a state-of-the-art gourmet kosher kitchen with a 14-foot island and Sub-Zero appliances, appealing to a discerning clientele and offering premium culinary facilities.
Expansive Living Space & Lot: Offers a substantial 5112 sq ft of living space with 8 bedrooms and 9 bathrooms on a spacious 7,700 sq ft lot, providing ample room for comfort and entertainment.
Cons
Multiple Price Reductions: The property has undergone several price reductions, including a recent $200K cut, which may indicate market resistance or an initial overestimation of value.
Listing Price vs. Estimated Value: The current listing price is approximately 6% higher than the estimated property value, potentially making it less attractive to buyers seeking immediate equity or perceived fair market value.
Niche Market Feature: The specialized 'gourmet kosher kitchen' may appeal to a specific demographic but could inadvertently narrow the potential buyer pool, potentially extending the property's time on the market.