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Property profile & analytics
OFF-MARKET
Estimated value
$540,000
Apartment buildings
842 Formosa Ave Los Angeles, CA 90046-7648
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US09-7523023
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1928
Construction
WOOD
Total area
10,544 SF
Lot
0.31 ac (13,299 SF)
Zoning code
LAR3
APN
5525-003-020
UPID
US09-7523023
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
Current use
Occupant on record · Public records
-
Melrose Plaza Apartments Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$470k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$610k
Blend (final)
Blend
$540k
Owner & transaction history
Melrose Plaza LLC · 19 yrs held
Melrose Plaza LLC
since 2006
7 recorded transactions
Zoning & alternative use
LAR3 · Los Angeles, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Los Angeles submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Los Angeles 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
by Request
ML approach
$470,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$540k
Range $486k – $594k · ±10%
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
$51 / 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
$43,429
Tax year 2024
Assessed value
$3,468,997
Assessed 2024
Previous assessed
$3,468,997
+0.0% YoY
Effective rate
1.25%
On assessed value
Assessed land
$2,101,627
Assessed improvement
$1,367,370
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
1928
Construction
WOOD
Heating
NONE
Cooling
YES
Units
19
Bathrooms
19
Total area
10,544 SF
Lot
0.31 ac (13,299 SF)
Zoning code
LAR3
APN
5525-003-020
UPID
US09-7523023
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
LAR3 · Los Angeles, CA
Zoning LAR3 · permitted uses
LAR3 · Los Angeles, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Los Angeles. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1928
Construction
WOOD
Heating
NONE
Cooling
Yes
Units
19
Bathrooms
19
Lot
0.31 ac
Current owner
From public records · entity-resolved
Melrose Plaza LLC
Entity
Mailing address
PO BOX 396, PACIFIC PALISADES, CA 90272-0396
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 22, 2025
—
Melrose Plaza LLC
—
Deed
related
$2,550,000 · Jpmorgan Chase Bank NA
Aug 1, 2018
—
Melrose Plaza LLC
—
Deed
related
$2,700,000 · Jpmorgan Chase Bank NA
Nov 3, 2006
$991,000
Melrose Plaza LLC
Hatam Ali Family Trust
Grant Deed
—
Jun 30, 2006
$2,420,000
Hatam Ali
842 N Formosa LLC
Grant Deed
$1,650,000 · Washington Mutual Bank
Mar 3, 2004
—
842 N Formosa LLC
Sierra Bonita Properties LLC
Quit Claim Deed
related
$755,000 · Citibank West Fsb
Nov 2, 1999
$285,000
Levitan,oded
Fair Properties LLC
Trustees Deed
—
Nov 2, 1999
—
Oded Levitan
Levitan,j
Quit Claim Deed
related
—
Jul 27, 1999
$1,045,000
Fair Properties LLC
Hollywood Investment Propertie
Grant Deed
$760,000 · Financial Inst Partners Mtg
Oct 28, 1997
—
Inv Props Hollywood
Lava,m F
Quit Claim Deed
related
—
Sep 15, 1995
—
Marcelo F Lava
Jerugim,j N & L L
Grant Deed
related
—
Sep 7, 1990
—
Jerugim Jaime
—
Deed Of Trust
related
—
—
—
Jerugim Jaime
—
Deed Of Trust
related
$50,000 · Individual
—
—
Jerugim Jaime
—
Deed Of Trust
related
$70,000 · Individual
—
—
Jaime Jerugim
—
Deed Of Trust
related
$200,000 · Solomon Sam&edit
—
—
Jaime N Jerugim
—
Deed Of Trust
related
$104,000 · Individual
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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