1022 Summit Drive, Beverly Hills, California 90210, Beverly Hills, 90210 - 6 bed, 7 bath
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Beverly Hills, California 90210
This property presents a High-Potential Investment Opportunity with a List Price of $10,995,000—positioned well below the $12,439,635 Fair Market Value by 11%. This valuation gap offers $1,444,635 in Instant Equity for buyers. Featuring a 0.74-acre lot and panoramic city views, the home carries a Condition Rating of 6, signaling a prime development project. Located near top-rated schools like Fairburn Avenue Elementary, this is an ideal acquisition for Real Estate Developers or Visionary Owner-Occupants seeking to craft a trophy estate.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1022 Summit Drive Subject | $10,995,000* List Price | 6 | 7 | 7,134 | $1,744 | - |
A 919 Benedict Canyon Drive Sold | $12,000,000 | 6 | 7 | 6,608 | $1,816 | 0.3 mi |
B 1805 Lexington Road Sold | $9,500,000 | 5 | 7 | 5,131 | $1,851 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1970 and offered for the first time in over 50 years with no mentioned renovations, this property meets the age criteria for a tear-down. The listing explicitly markets it as a development opportunity for a 'new, custom-designed masterpiece,' suggesting the value is primarily in the 0.74-acre lot.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 32080, living area = 7134.
Elementary School: Fairburn Avenue Elementary School (9/10). High School: Beverly Hills High School (9/10).
Situated on the world-renowned Summit Drive in the Beverly Hills Gateway, this property offers unparalleled prestige and privacy in one of the most coveted neighborhoods in the 90210 zip code.
As a primary remodel or development opportunity, the property will require a substantial capital investment beyond the purchase price to meet modern luxury standards and buyer expectations.
Built in 1970 and offered for the first time on the market, the home likely contains original mechanical, electrical, and plumbing systems that may necessitate a complete and costly overhaul.
ALL NEW TRANSACTION! CONVENTIONAL/STANDARD CLOSE OF ESCROW AND DELIVERY OF POSSESSION. 1022 Summit Drive presents a rare and exceptional Remodel or development opportunity in one of Beverly Hills' most prestigious neighborhoods, Beverly Hills Gateway. First time on the market! This 0.74-acre (approximately 32,234 sq. ft.) parcel, originally designed by famed architect William S. Beckett, with a very cool existing mid-century swank and vibe of approx. 7,134 sq. ft. built in 1970. Offers a prime canvas for reinvention, restoration, or recreation, creating a luxurious estate in the heart of the iconic 90210 proper. With 6 bedrooms and 7 bathrooms, the existing structure could be brought back right back to its iconic era because of it's open concept structural design, ultra high ceilings, floor to ceiling glass, tones of light and ideal floor plan already fulfilling current market demands, or the expansive lot could support a new, custom-designed masterpiece tailored to the discerning tastes of Beverly Hills' elite in one of the most coveted, world-renowned locations. The property's generous size and prime location make it ideal for developers or visionary owner/users seeking to craft a trophy estate with unparalleled privacy and sophistication on arguably one of the most coveted streets in Beverly Hills.
No exterior & parking available.
Grades K-5 • 1.3 mi
Grades K-5 • 1.9 mi
Grades K-5 • 1.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 6.0 | 5.0 | 79% |
| Baths | 7.0 | 5.0 | 71% |
| Square foot | 7,134 | 4,396 | 76% |
| Lot Size | 32,080 | 17,116 | 85% |
| Price | $10.99M | $6.40M | 68% |
| Price per sq ft | $1.5K | $1.4K | 58% |
| Built year | 1970 | 1959 | 66% |
| HOA | $0 | $0 | 50% |
| Days on market | 18 | 151 | 1% |
May 19, 2026
$10,995,000
Initial Listing