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Property profile & analytics
OFF-MARKET
Estimated value
$2,250,000
Apartment buildings
1146 Formosa Ave West Hollywood, CA 90046-5821
Entity Owned
2-yr Hold
Free & Clear
Property ID
US09-8574491
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1956
Construction
WOOD
Total area
6,856 SF
Lot
0.16 ac (6,762 SF)
Zoning code
WDR3C*
APN
5531-009-015
UPID
US09-8574491
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.25M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.25M
Owner & transaction history
Astrolabe Enterprises LLC · 2 yrs held
Astrolabe Enterprises LLC
since 2024
Last sale
$2.3M
7 recorded transactions
Zoning & alternative use
WDR3C* · West Hollywood, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.7M
+97.1%
Office building
$3.4M
+82.0%
Medical building
$3.1M
+65.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs West Hollywood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West Hollywood submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$2,250,000
ML approach
$2,250,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
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
Blend value · Realmo final
$2.25M
Range $2.03M – $2.48M · ±10% · vs last sale $2.25M (Jun 24 2024)
Last sale anchor
$2.25M
Jun 24 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$328 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$5,202
Tax year 2024
Assessed value
$236,281
Assessed 2024
Previous assessed
$236,281
+0.0% YoY
Effective rate
2.20%
On assessed value
Assessed land
$59,820
Assessed improvement
$176,461
Applied tax rate
9.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1956
Construction
WOOD
Heating
NONE
Units
8
Bathrooms
8
Total area
6,856 SF
Lot
0.16 ac (6,762 SF)
Zoning code
WDR3C*
APN
5531-009-015
UPID
US09-8574491
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
WDR3C* · West Hollywood, CA
Zoning WDR3C* · permitted uses
WDR3C* · West Hollywood, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
West Hollywood. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.9M
AUTO REPAIR, GARAGE
Est. value
$3.7M
OFFICE BUILDING
Est. value
$3.4M
MEDICAL BUILDING
Est. value
$3.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.9M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1956
Construction
WOOD
Heating
NONE
Units
8
Bathrooms
8
Lot
0.16 ac
Current owner
From public records · entity-resolved
Astrolabe Enterprises LLC
Entity
Free & Clear · 2 yrs held
Mailing address
129 S WIHIAMAN DR, BEVERLY HILLS, CA 90211
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
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
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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