1022 Summit Drive, Beverly Hills, California 90210, Beverly Hills, 90210 - 6 bed, 7 bath
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Beverly Hills, California 90210
This Prime Development Opportunity in the Beverly Hills Gateway presents a Strong Value Opportunity with a List Price of $11,995,000—positioned well below the $13,255,198 Fair Market Value by 9%. This valuation gap offers $1,260,198 in Instant Equity for a strategic renovation or rebuild. Despite its Condition Rating of 5, the 0.74-acre lot and Beckett-designed architecture provide a high-ROI canvas. Boasting Top-Rated 9/10 Schools, a private pool, and city skyline views, this asset is a high-reward acquisition for Luxury Developers or Visionary Owner-Users.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1022 Summit Drive Subject | $11,250,000* List Price | 6 | 7 | 7,134 | $1,577 | - |
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 |
C 9996 Sunset Boulevard Active | $12,975,000 List Price | 6 | 8 | 7,885 | $1,646 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1970, this property is explicitly marketed as a 'remodel or development opportunity,' indicating it is not move-in ready and requires substantial rehabilitation. The description highlights its 'mid-century swank and vibe' and the potential of its architectural design, but the property analysis explicitly lists 'Significant Renovation/Development Required,' 'Age of Existing Structure' (implying outdated systems and finishes), and 'Lack of Modern Luxury Amenities.' The aerial images show a dated exterior and potentially neglected elements like the roof and pool area. While the structure may be sound, the overall condition, systems, and finishes are outdated and necessitate extensive investment to meet modern luxury standards.
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 in the highly coveted Beverly Hills Gateway, within the iconic 90210 proper, on arguably one of the most desirable streets, offering unparalleled status and exclusivity.
Explicitly marketed as a 'remodel or development opportunity,' the property is not a turn-key luxury estate and will require substantial investment to either restore the existing structure to modern standards or build anew.
Built in 1970, the existing 7,134 sq. ft. structure, despite its architectural merit, likely has outdated systems (e.g., HVAC, plumbing, electrical) and finishes that would necessitate extensive renovation to align with contemporary luxury expectations.
The description highlights original architectural elements but does not mention any recent high-end upgrades, smart home technology, or premium amenities typically expected in a newly renovated or built luxury estate at this price point.
NEW PRICE AND NEW DEAL MECHANICS! CONVENTIONAL/STANDARD CLOSE OF ESCROW AND DELIVERY OF POSSESSION. PROPERTY TO BE DELIVERED VACANT WITH MINIMAL LEASE-BACK NEEDED UPON COE. 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 | 76% |
| Baths | 7.0 | 5.0 | 70% |
| Square foot | 7,134 | 4,403.5 | 77% |
| Lot Size | 32,080 | 18,824 | 83% |
| Price | $11.25M | $6.80M | 72% |
| Price per sq ft | $1.6K | $1.4K | 60% |
| Built year | 1970 | 1960 | 68% |
| HOA | $0 | $0 | 50% |
| Days on market | 90 | 197 | 21% |
Apr 3, 2026
$11,250,000
$11,495,000
-2% Price Drop
Initial Listing
Mar 13, 2026
$11,495,000
$11,995,000
-4% Price Drop
Initial Listing
Jan 23, 2026
$11,995,000
Initial Listing