1406 North Formosa Avenue

1406 North Formosa Avenue has been categorized by the local assessors in Los Angeles, CA as a residential type of property. The building on the property was first built in 1922 and is 102 years old. The home has a total of 4 bedrooms. Residents will have access to 4 full bathrooms. There are 4 partial bathrooms in the home. In addition, 1406 North Formosa Avenue has 3,882 sqft of living area. The living area typically only takes into consideration the heated or air conditioned part of the building. The area measurement of the land has been determined as 7,878 square feet. Fans of architecture and design would be interested in knowing that the building on the property was built in a quadplex style.

Want to learn more? We've sourced additional information from the local assessor's office that we've shared on this page with you. Along the lines of building condition, did you know that weather changes can cause buildings to move? It may sound alarming, but thats why the type of control joints used in the construction of your home is extremely important. Architects often have to plan these out well in advance to ensure the longevity of the building. Therefore, as part of your consideration, you should note that the home was built with wood control joints. From what we've gathered, the quality of these control joints have been graded with a letter grade of A by the local assessor. The inside of the home is being cooled with air conditioning at the moment. The property was last sold in Feb 10, 2022 for $1,800,000. That's $463.68 per sqft. Prior to that sales transaction, the property was also sold in Apr 29, 1999 for $358,500. 1406 North Formosa Avenue was last assessed in 2023. The total value of the property was assessed at $1,836,000. Specifically, the land the property is located on was valued at $1,285,200. While improvements on the property were assessed at a total of $550,800. The total assessed value for this property is more than the total market value as of this moment. Which is pretty atypical. The total amount of taxes due from a property owner is $6,813. If possible, try to put down at least 20% towards the down payment during your home purchasing process. While you may be able to buy a home with less than a 20% down payment, your lender may then require you to pay for a private mortgage insurance (PMI). PMI protects the lenders and lowers their financial risk in case the borrower defaults. Generally, you'll need to pay more PMI when your total loan amount is higher. However, certain factor such as your credit score, loan type, loan term, and loan-to-value ratio can all impact your PMI as well. Unfortunately, this property is not currently listed for sale but our inventory of available properties is constantly updating in real time. Check back frequently for updates.