3 months on rocket

1221 N Formosa Ave, West Hollywood, CA, 90046

$2,290,000

Home List Price

$10,000*

Closing Credit

3 Bedrooms
3 Full Baths
2,150 SqFt
$1,065/SqFt
House

Location

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1221 N Formosa Ave, West Hollywood$2,290,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeSingle Family Residence
ParkingDriveway
Year Built1932
HeatingForced Air
FireplaceNone
ViewNone
MLS #24414293
Lot Size0.16 Acres
StatusActive

About 1221 N Formosa Ave

One of the last remaining R3 lots ready for development in City of West Hollywood on Formosa or for owner occupant to make their home with additional rental income. Located between Santa Monica Blvd and Fountain with a 92 Walkscore. A block away from luxury gym Heimat, Formosa Cafe and Trader Joes, Target, Ralphs, and shops and dining on Sycamore. Larger than most lots at 6,755 SF and very lush with mature trees/shrubs. Main home has been owner occupied for 30 years, ADU now vacant with no history of low income tenants, previous tenant was paying $2571 per month. Main home has 2 bedrooms,1 bathroom and an oversized open floor plan kitchen designed by current owner and completed in the mid 90s. Back unit is 1 bed 1 bath. Indoor laundry room with 3rd bathroom connect the two structures. Both are in well kept, clean condition, suitable for your tenants or owner occupant. One of the larger lots in the area at 6,755 SF with lush grounds and functioning koi pond. Driveway suitable for 4 cars. Savvy developer or investor can add additional ADU on lot, or build luxury small lot subdivision SFR/condos. Affordable housing possibilities and AB2097 eligible for limited or reduced parking requirements. No ULA tax. Wide street, easy construction access. Five 3-level townhomes directly next door are currently under construction nearing completion, as well as 2 other similar projects nearing completion on street. 18 luxury condos recently broke ground at 1242 N formosa. Seller financing and/or flexible escrow terms may be available. Please inquire.

Property Details

Property Features

Property Information:

  • Architectural Style: Spanish
  • Year Built: 1932
  • Stories: 1
  • Living Area: 2,150 SqFt

Listing Office:

  • Office Name: Shepherd Realty Group
  • Office Phone: (951) 328-8990
  • Listing Agent: Lauren Shepherd

Interior Features

Interior Information:

  • Flooring Type: Wood
  • Fireplace: None

Bedroom and Bathroom Information:

  • Full Bathrooms: 3
  • Total Bedroom Count: 3

Exterior Features

Exterior Information:

  • Private Pool: No
  • View: None

Parking Information:

  • Parking: Driveway

Lot Features

Lot Information:

  • Lot Size: 0.16 Acres

Utilities

Utilities Information:

  • Heating: Forced Air

Other

Directions Information:

  • Directions: On west side of street between Fountain and Santa Monica Blvd.

Price Information

Listing Price Info

Price Summary:

  • List Price: $2,290,000
  • Price Per SqFt: $1,065/SqFt

Tax Information:

  • Annual Amount: $4,657
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in West Hollywood, CA.

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West Hollywood, CA

City

Med. Sold Price

$1.1M

Med. Price/SqFt

$820

Avg. Days On Market

63

# of Sold Homes

25

1221 N Formosa Ave vs West Hollywood

113 DAYS ON ROCKET

+50 Days

$2,290,000

+$1.1M More

$1,065/SqFt

+$245 More

KEY TAKEAWAY

This property is $1.1M more than the Median Sold Price and $245/SqFt more than other homes in West Hollywood, CA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: CRMLS
  • MLS Number: #24414293

Listing Office:

  • Office Name: Shepherd Realty Group
  • Office Phone: (951) 328-8990
  • Listing Agent: Lauren Shepherd

IDX Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/14/2024, 12:20:58 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Mar 26, 1996Home Sold
$101,000
Mar 22, 1990Home Sold
$292,500
Jun 01, 1989Home Sold
$280,000
Jun 01, 1989Home Sold
$280,000
Feb 26, 1988Home Sold
$194,000

Tax History

YEARPROP. TAXASSESSMENT
2021$4,657$312,265
2020$4,487$309,064
2019$4,405$303,005
2018$4,321$297,064
2017$4,321$291,241

History based on county public records data.

Payment Calculator

$11.4K

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$6,932

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-147147
4
/10

  • Gardner Street Elementary

  • 7450 Hawthorn Ave

  • 0.54 miles

  • Public District Grades PK-5

school-card-donut-147148
9
/10

  • Melrose Avenue Elementary School

  • 731 N Detroit St

  • 0.63 miles

  • Public District Grades KG-5

school-card-donut-147149
5
/10

  • Vine Street Elementary

  • 955 Vine St

  • 1.18 miles

  • Public District Grades KG-6

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $43,482. Most West Hollywood, CA residents have annual incomes between $35k-100k. Most families are single, no kids. Typical level of education for residents in this area is post secondary degree.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 1221 N Formosa Ave

What is the listing price of this property?

The listing price of 1221 N Formosa Ave property is $2,290,000.

What type of property is this?

The property 1221 N Formosa Ave is a house located in West Hollywood, California, 90046.

Is this property for sale now?

Active Listing: 1221 N Formosa Ave is For Sale (Active/New) which means the seller is accepting offers.

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $4,657 (source: MLS/based on county public records data).

When was this property sold last time and for how much?

The last sale was on March 26, 1996 for $101,000. (source: MLS/tax record).

How many bedrooms and bathrooms does this property have?

The property at 1221 N Formosa Ave has 3 bedrooms and 3 bathrooms.

What is the square footage of this property?

The property 1221 N Formosa Ave is 2,150 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 1221 N Formosa Ave is 1932.

Rocket Homes›California›Los Angeles County›West Hollywood›90046›1221 N Formosa Ave

This home is located at 1221 N Formosa Ave in West Hollywood, CA and zip code 90046 in the Central LA neighborhood. This 2,150 square foot home, which was built in 1932, sits on a 0.16 acre lot. Features: 3 bedrooms, 3 bathrooms. It has been listed on Rocket Homes since July 24, 2024 and is currently priced at $2,290,000.

While more than 2 listings in West Hollywood, CA in October 2024 were sold above asking price, there were more than 2 listings sold at asking price, and more than 21 were sold below. The inventory of homes for sale in West Hollywood, CA between September 2024 and October 2024 increased by 21.4%. While the average time on the market in October 2024 was 63 days, the median list price was $1,110,555.

From Rocket Homes Real Estate and based on county public records data.

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