ACTIVE$8,699,999

1229 N Olive Drive, West Hollywood, California 90069

3Beds

2Baths

2,288Sqft

15,065Lot

Year Built

1920

List price

$8.7M

Original List price

$8.7M

Price/Sqft

$3,802

HOA

Days on market

Sold On

MLS number

25552559

Home ConditionTear down

Features

Good View:

View

About this home

We found 3 Cons,5 Pros. Rank: price - $8.70M(88th), sqft - 2288(36th), beds - 3(50th), baths - 2(14th).

Two Side-by-side parcels in West Hollywood, 1229-1235 N. Olive Dr, offering over 15,000 sq ft with 100 ft of frontage. Multiple pathways exist for visionary developers taking advantage of West Hollywood's R4B zoning. These parcels are nestled in a prime location mere moments from the iconic Sunset Strip and neighboring landmarks like the The Pendry, The One Hotel, and LA's world-class entertainment, dining, and shopping. A generational opportunity to build the future of West Hollywood in one of the world's most coveted locations. A By-Right Luxe Development (21 Units, 4 Story), Density Bonus (28 Units, 5 Story) and an All-Affordable Housing option (7 Story), are all on the table with the city's recent game changing development initiatives (See WEHO Minutes). Contact LA1 for info about this exciting new proposed framework. Please do not disturb occupants or walk onsite unattended.

Nearby schools

4/10

Rosewood Avenue Elementary School, School for Advanced Studies

Public,•K-6•0.7mi

9/10

West Hollywood Elementary School

Public,•K-5•0.8mi

7/10

Gardner Street Elementary School

Public,•K-6•1.4mi

3/10

Laurel Elementary School

Public,•K-8•0.7mi

8/10

Hawthorne Elementary School

Public,•K-8•2.0mi

3/10

Hubert Howe Bancroft Middle School

Public,•6-8•2.2mi

7/10

John Burroughs Middle School

Public,•6-8•2.9mi

7/10

Fairfax Senior High School

Public,•9-12•1.0mi

6/10

Hollywood Senior High School

Public,•9-12•2.1mi

9/10

Beverly Hills High School

Public,•9-12•3.0mi

Price History

Date

Event

Price

06/19/25

Listing

$8,699,999

Condition Rating

Tear down

The property was built in 1920, making it over 100 years old. The MLS description focuses entirely on the land's development potential and zoning (R4B, 21-28 units, 4-7 stories), explicitly stating it's an 'opportunity to build the future of West Hollywood.' There is no mention of any renovations or updates to the existing 3-bed, 2-bath structure. Crucially, the provided image is an aerial view of the surrounding area, with no photos of the property's exterior or interior (kitchen, bathrooms, etc.). This complete absence of property-specific images, combined with the instruction 'Please do not disturb occupants or walk onsite unattended,' strongly indicates that the existing structure is not considered livable or valuable, and the property's high list price is solely for the land and its redevelopment potential.

Pros & Cons

Pros

Exceptional Development Potential: Comprising two side-by-side R4B zoned parcels totaling over 15,000 sq ft with 100 ft of frontage, this property offers clear pathways for significant multi-unit development (21-28+ units, up to 7 stories).

Prime West Hollywood Location: Nestled in a highly coveted area, moments from the iconic Sunset Strip and adjacent to luxury landmarks like The Pendry and The One Hotel, ensuring high demand for future units.

Favorable Regulatory Environment: The property benefits from West Hollywood's recent 'game-changing development initiatives,' indicating a supportive city framework for large-scale projects.

Generational Investment Opportunity: Positioned as a rare chance to shape the future of West Hollywood, appealing to visionary developers seeking long-term, high-impact projects in a world-class location.

Potential for Enhanced Views: The 'has_view' attribute suggests that a multi-story development could capitalize on desirable views, further enhancing future unit value.

Cons

High Barrier to Entry: The $8.7M list price and the specialized nature of the offering (land for large-scale development) significantly narrow the buyer pool to well-capitalized developers and investors, not typical residential buyers.

Access & Due Diligence Constraints: The instruction 'Please do not disturb occupants or walk onsite unattended' indicates potential challenges for initial site assessment and comprehensive due diligence.

Existing Structure Irrelevance: The current single-family residence holds no value for the intended development, necessitating demolition and associated costs, which are not factored into a traditional residential purchase.

About this home

Nearby schools

Price History

Pros

Cons

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1229 N Olive Drive, West Hollywood, California 90069, West Hollywood, 90069 - 3 bed, 2 bath

About this home

Nearby schools

Price History

Pros

Cons

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI