
Los Angeles, California 90024
Analysis of 501 Woodruff Avenue, Los Angeles, California 90024 is currently available with a list price of $5,299,000. The property maintains a Tear down Condition Rating (10/100), reflecting significant deferred maintenance. This property is best suited for experienced investors or developers prepared for substantial renovation work. Located in a high-demand neighborhood within the Los Angeles Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Property is land value only, full reconstruction required.
The property is marketed primarily as a development site, including RTI (Ready-to-Issue) plans for a new 7,271 sq ft residence. The existing structure is significantly outdated, featuring window AC units, 1970s-style floral wallpaper, and aged carpeting, indicating it does not meet modern luxury standards for the neighborhood and is intended for demolition.
Elementary School: Fairburn Avenue Elementary School (9/10). High School: Beverly Hills High School (9/10).
Situated in one of the Westside's most prestigious and tightly held neighborhoods, this property offers proximity to UCLA, Westwood Village, and the highly-rated Warner Avenue Elementary School.
The inclusion of soon-to-be RTI (Ready-to-Issue) plans for a 7,271 sq ft luxury estate significantly reduces the entitlement timeline and risk for a buyer looking to build a world-class residence.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 7271, other record living area = 3181. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 6, other record bedroom count = 4.
As the primary value lies in the proposed development, a buyer must be prepared for the substantial capital, time, and management required for a ground-up construction project.
With multiple price reductions from the original list price and a significant markup from its 2024 sale price, the property may face scrutiny regarding its current valuation as a development site.
Located in coveted Little Holmby, 501 Woodruff Ave presents a rare opportunity to create a world-class residence on an expansive 16,539 sq ft lot in one of the Westside's most prestigious and tightly held neighborhoods. The offering includes impressive soon-to-be RTI plans for a refined European-inspired estate thoughtfully designed for modern luxury living, resort-style amenities, and flexibility for a buyer to modify or tailor the plans to their preferences. The architecture blends classical proportions and detailing including arched openings, symmetrical massing, a limestone-style facade, and wrought-iron railings with clean lines and contemporary glazing, for a timeless yet modern aesthetic. The proposed design calls for approximately 7,271 sqft with a highly functional, lifestyle-driven layout featuring 6 bedrooms and 7 total bathrooms. The main living spaces open directly to a generous rear terrace and pool deck, creating a seamless indoor-outdoor connection. Plans include expansive living and entertaining spaces, an attached garage, and pool, allowing a buyer to move forward efficiently with development. Planned layout includes: First Floor with grand living spaces, kitchen, dining and family areas, one bedroom suite, gym and powder room; Upper Level with a primary suite, multiple secondary bedroom suites, lounge, and laundry; Lower Level with attached garage, mechanical, and support areas. Currently on the property sits a traditional 4-bedroom, 5-bath home totaling approximately 3,792 sq ft. Set on a prime Little Holmby street near UCLA, Westwood Village, and top Westside destinations, this is a unique chance to build a signature estate in one of the Westside's most sought-after neighborhoods.
No exterior & parking available.
Grades K-5 • 0.1 mi
Grades K-5 • 0.9 mi
Grades K-5 • 2.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 6.0 | 4.0 | 89% |
| Baths | 7.0 | 4.0 | 95% |
| Square foot | 7,271 | 3,177 | 95% |
| Lot Size | 16,535 | 7,705 | 89% |
| Price | $5.30M | $3.50M | 81% |
| Price per sq ft | $729 | $1.2K | 3% |
| Built year | 0 | 1935 | 3% |
| HOA | $0 | $0 | 50% |
| Days on market | 68 | 195 | 11% |
Apr 8, 2026
$5,299,000
$5,699,000
-7% Price Drop
Initial Listing
Mar 12, 2026
$5,699,000
$5,899,000
-3% Price Drop
Initial Listing
Feb 13, 2026
$5,899,000
Initial Listing
May 17, 2024
$4,550,000
Public Record
Aug 25, 2023
$3,750,000
Public Record