Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1146 Formosa Ave West Hollywood, CA 90046-5821
    Back to Search
    Property profile & analytics

    1146 Formosa Ave, West Hollywood, CA 90046-5821

    View on Map
    • Apartment buildings
    • 6,856 SF
    • 0.16 lot acres
    Off-Market
    Last Sale Jun 24, 2024
    $2,250,000
    Property ID
    US09-8574491
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $2,250,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 1146 Formosa Ave

    Year built
    1956
    Construction
    WOOD
    Lot size
    0.16 lot acres
    Zone code
    WDR3C*
    Property type
    Apartment buildings
    APN
    5531-009-015
    APU
    5531009015

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 24, 2024 — Astrolabe Enterprises LLC Ann M Labe Quit Claim Deed · related —
    Jun 17, 2024 $2,250,000 Ann M Labe Drm Apartments LLC Grant Deed —
    Oct 15, 2010 — Drm Apartments LLC Wegman,melanie Grant Deed —
    Jan 17, 2008 — Melanie Wegman Wegman,martin H Quit Claim Deed · related —
    Dec 20, 2007 — Kishineff W & S Trust C Kishineff,sylvia G Affidavit Of Death —
    Apr 18, 2001 — St Mary Daughters Shin,m J Quit Claim Deed · related —
    Jan 20, 1999 — Bok N Yoo Yoo,b N Quit Claim Deed · related —
    Mar 5, 1998 — Kishineff,sylvia G Trustee Kishineff S G Trustee, Quit Claim Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,250,000
      ML approach
      $2,250,000

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,890,000
      Current use
      AUTO REPAIR, GARAGE
      $3,725,000
      Change: +97% Conversion: Difficult
      OFFICE BUILDING
      $3,440,000
      Change: +82% Conversion: Moderate
      MEDICAL BUILDING
      $3,125,000
      Change: +65% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $2,905,000
      Change: +54% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    West Hollywood
    County
    Los Angeles
    State
    California
    Longitude
    -118.346
    Latitude
    34.0921
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $5,202
    $59,820
    $176,461
    $236,281
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      4,997 SF

      828 Alta Vis Blvd

      APARTMENT HOUSE (5+ UNITS)
      828 Alta Vis Blvd, Los Angeles, CA 90046-7639
      View Details
    • Value Estimation
      $720,000
      34,857 SF

      1409 Alta Vis Blvd

      APARTMENT HOUSE (5+ UNITS)
      1409 Alta Vis Blvd, Los Angeles, CA 90046-8219
      View Details
    • Value Estimation by Request
      7,800 SF

      1037 La Jolla Ave

      APARTMENT HOUSE (5+ UNITS)
      1037 La Jolla Ave, West Hollywood, CA 90046-5924
      View Details
    • Value Estimation
      $1,060,000
      24,829 SF

      1522 Formosa Ave

      APARTMENT HOUSE (5+ UNITS)
      1522 Formosa Ave, Los Angeles, CA 90046-7919
      View Details
    • Value Estimation by Request
      6,921 SF

      1309 Formosa Ave

      APARTMENT HOUSE (5+ UNITS)
      1309 Formosa Ave, Los Angeles, CA 90046-4405
      View Details
    • Value Estimation by Request
      4,667 SF

      1210 Formosa Ave

      APARTMENT HOUSE (5+ UNITS)
      1210 Formosa Ave, West Hollywood, CA 90046-5855
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      11,580 SF

      West Hollywood Multifamily Investment Opportunity

      18-unit apartment building near Sunset Strip with assumable debt.
      1429 N Havenhurst Dr, West Hollywood, CA 90046
      View Details
    • Contact for pricing

      West Hollywood Adjacent Income Property

      Seven-unit building with owner's unit and value-add potential.
      1406 N Vista St North, Los Angeles, CA 90046
      View Details
    • $24,345,000

      Los Angeles Multifamily Portfolio

      64 units in prime Los Angeles markets with assumable financing.
      1429 Havenhurst Dr, West Hollywood, CA 90046
      View Details
    • $6,950,000
      16,780 SF

      West Hollywood 19-Unit Apartment Building

      Turnkey multifamily property in a desirable West Hollywood location.
      Norton Ave, West Hollywood, CA 90046
      View Details
    • $4,600,000
      9,296 SF

      West Hollywood 10-Unit Apartment Building

      Upgraded 10-unit apartment building in prime West Hollywood location.
      Ogden Dr, West Hollywood, CA 90046
      View Details
    • New
      $3,195,000
      Pending

      French Normandy Multifamily in Los Angeles

      French Normandy style multifamily property in prime Los Angeles location.
      8016 Selma Ave, Los Angeles, CA 90046
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,927 SF

      Fully Leased Retail Property

      Retail property at a prime location, currently 100% leased.
      7441-7445 W Sunset Blvd, Los Angeles, CA 90046
      View Details
    • Contact for pricing

      Leased Retail Property on Melrose

      100% leased retail property located on Melrose Avenue.
      7207 Melrose Ave, Los Angeles, CA 90046
      View Details
    • Contact for pricing

      Retail Space on Santa Monica Blvd

      Retail space with high visibility and secured parking.
      7617 Santa Monica Blvd, West Hollywood, CA 90046
      View Details
    • Contact for pricing

      Retail Space on Melrose Avenue

      Retail space available for lease on Melrose Avenue.
      7801 Melrose Ave, Los Angeles, CA 90046
      View Details
    • Contact for pricing

      Retail Spaces Available For Rent

      Retail spaces available, ranging from 425 to 1,000 SqFt.
      7801 Ogden Dr, Los Angeles, CA 90046
      View Details
    • Contact for pricing

      Fitness Space on N Fairfax

      Second-generation fitness space with lobby area and concrete floors.
      Los Angeles, CA 90046
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1146 Formosa Ave
    West Hollywood, CA 90046-5821
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1146 Formosa Ave, West Hollywood, CA, 90046
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!