1255 North Formosa Avenue

Local assessors in Los Angeles, CA have categorized 1255 North Formosa Avenue as a residential type of property. The home was built in 2017 and is 7 years old. The property's lot size has been calculated to be 6,739 square feet. Sharp-eyed aficionados of architecture will notice that the home on the property was built in a condo style. Now, let's dive a bit deeper into the details surrounding the home on the property. There are 0 rooms in the home. Of these, 3 have been legally categorized as bedrooms. For more details, please view your local government regulations on what counts as a legal bedroom. As for the restroom situation, there are 3 full bathrooms. There are also 3 partial bathrooms. If we look only at the heated or air conditioned part of the building, then 1255 North Formosa Avenue has a total of 1,406 sqft of living area. Note that this number does not include the square footage of the garage, basement, and/or porch into its calculations.

Curious to learn more about the home? Our team of data engineers have sourced the most up-to-date information from the local assessors office to share with you. It might sound scary but did you know that buildings can move depending on the weather? Both hot and cold weather can have severe impact on the longevity of your home structure depending on how much your home moves. Hence why architects pay a lot of attention to the type of control joints used in the construction process. Just so you know, this home was built with wood control joints. Not only do we know the type, but we also know that the assessors have graded the quality of these control joints with a letter grade - A-. Residents rely on air conditioning for their cooling system. The home's a central heating system is the primary heating source. We've gathered and summarized the following transaction history in an effort to provide more transparency and up-to-date information for our users. According to our sources, 1255 North Formosa Avenue sold most recently in Jan 24, 2022 for a total of $1,530,000. If you work out the math, that's approximately a cost of $1,088.19 per sqft. Before that, the property was also sold for $1,400,000 in Aug 29, 2017. There could be many factors that caused the property to sell at a higher price and increase in value. Tax-wise, the current owner is expected to pay close to $17,576 in taxes each year. 1255 North Formosa Avenue was most recently assessed in 2022. During this assessment, the property's total value was estimated to be about $1,501,081. If we break it down further, the land itself was valued at $793,429. Improvements to the property, however, were assessed at a total of $707,652. The property's total assessed value has been marked as more than the total market value which is pretty atypical. Speaking of costs, many buyers and sellers often forget to take into consideration the closing costs they may occur. Closing costs can stem from anything mortgage or property related to fees related to your property title. As you'll soon learn from our guide, fees can quickly add up hence why as a rule of thumb, we typically recommend setting aside at least 5% of the purchase price to cover potential closing costs. Don't worry, any additional you save up can always go towards your principal. Better safe than sorry!Sadly, this property is not available for sale but we are constantly updating our inventory in real time. Sign up for a RealtyHop account and add this property to your favorites to get updates on when this property is back on the market. Or alternatively, you can check back frequently for updates.