3250 Velma Drive, Los Angeles, California 90068, Los Angeles, 90068 - 3 bed, 2 bath
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Los Angeles, California 90068
This Spacious Hollywood Hills Residence is a well-maintained asset listed at $1,500,000—positioned well below the $1,518,480 Fair Market Value by 1%. This valuation provides $18,480 in Instant Equity for the incoming owner. Boasting a Condition Rating of 4, the home features a versatile layout with a lower-level suite and a private Hills View. Located in the prestigious Hollywood Manor near Top-Rated Valley View Elementary (8/10), the property presents significant upside through cosmetic modernization. It is the perfect fit for Owner-Occupants seeking lifestyle luxury or Value-Add Investors targeting a prime Los Angeles location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3250 Velma Drive Subject | $1,500,000* List Price | 3 | 2 | 1,918 | $792 | - |
A 3471 Oak Glen Drive Sold | $1,420,000 | 3 | 2 | 1,710 | $830 | 0.6 mi |
B 3141 E La Suvida Drive Sold | $1,290,000 | 2 | 3 | 1,816 | $710 | 0.2 mi |
C 3158 Oakshire Drive Sold | $1,760,000 | 3 | 2 | 1,757 | $1,002 | 0.7 mi |
D 3219 Tareco Sold | $1,096,000 | 2 | 2 | 1,230 | $891 | 0.6 mi |
E 3408 Troy Active | $1,499,000 List Price | 3 | 2 | 1,795 | $835 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property is well-maintained and move-in ready, but reflects its 1965 build date with updates that appear to be 15-25 years old. While the kitchen features newer stainless steel appliances, the blue tile countertops, parquet wood flooring, and gold-trimmed bathroom fixtures are stylistically outdated. It meets the 'fair' criteria as an aged home maintained through regular upkeep but requiring cosmetic modernization to meet current luxury standards.
Situated in the prestigious Hollywood Manor, the property offers unparalleled access to iconic landmarks like the Hollywood Bowl and Griffith Park, perfectly blending urban convenience with tranquil hillside living.
The layout features a rare full bedroom and bathroom on the lower level, providing an ideal setup for a professional home office, guest suite, or multi-generational living arrangements.
Large entertainment areas transition effortlessly to a lush, private backyard with mature fruit trees, creating an exceptional environment for hosting and enjoying the Southern California climate.
At 4,637 square feet, the lot is relatively small for the area, which may limit future expansion possibilities or provide less privacy compared to larger neighboring estates.
Built in 1965, the home may require capital improvements to its core systems or cosmetic updates to meet the expectations of modern luxury buyers at this price point.
Nestled in sought-after Hollywood Manor, this beautiful 3-bedroom, 2-bathroom home offers comfort, charm, and an ideal indoor-outdoor lifestyle. Filled with abundant natural light, the home features a spacious layout designed for both everyday living and entertaining. The large entertainment area opens to a lush backyard with mature fruit trees, creating the perfect setting for gatherings or peaceful evenings at home. The thoughtfully designed floor plan includes a full bedroom and bathroom downstairs, ideal for guests, extended family, or a home office. Upstairs, the primary suite offers a walk-in closet and a private balcony, providing a relaxing retreat. Automatic blinds on the screen doors in the primary bedroom, kitchen, and additional bedrooms add both comfort and convenience. Additional highlights include a 2-car garage and inviting living spaces throughout. Ideally located near the Hollywood Bowl, Greek Theatre, Downtown Los Angeles, and miles of scenic hiking trails surrounding the Lake Hollywood Reservoir and Griffith Park, this home offers the perfect blend of tranquility and city access.
No exterior & parking available.
Grades K-6 • 0.7 mi
Grades K-5 • 1.5 mi
Grades K-5 • 1.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 3.0 | 29% |
| Square foot | 1,918 | 2,394 | 32% |
| Lot Size | 4,637 | 7,142 | 13% |
| Price | $1.50M | $1.97M | 27% |
| Price per sq ft | $782 | $887 | 29% |
| Built year | 1965 | 1949 | 79% |
| HOA | $0 | $0 | 50% |
| Days on market | 27 | 196 | 1% |
Mar 26, 2026
$1,500,000
Initial Listing
Sep 19, 2007
$925,000
Public Record
Aug 4, 2005
$875,000
Public Record