
Los Angeles, California 90024
This property presents a High-Potential Investment Opportunity with a List Price of $4,995,000—positioned well below the $5,123,960 Fair Market Value by 2%. This valuation gap offers $128,960 in Instant Equity. Featuring RTI plans for a 7,271 sq ft estate on a 16,535 sq ft lot, the property carries a Condition Rating of 6. Located in Little Holmby near top-rated Warner Avenue Elementary, this is an ideal acquisition for Luxury Developers or Owner-Occupants seeking a signature custom residence.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 501 Woodruff Avenue Subject | $4,995,000* List Price | 6 | 7 | 7,271 | $705 | - |
A 501 Woodruff Avenue Active | $5,299,000 List Price | 6 | 7 | 7,271 | $729 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
The property is explicitly marketed as a development opportunity with RTI (Ready to Issue) plans for a new 7,271 sq ft estate. The existing structure is over 50 years old with an extremely dated interior, including window AC units and original finishes, and is being sold primarily for its land value in Little Holmby.
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, the property offers proximity to UCLA and is zoned for the top-rated Warner Avenue Elementary School.
The offering includes soon-to-be Ready-to-Issue (RTI) plans for a 7,271 sq ft luxury estate, significantly reducing the typical multi-year lead time and complexity associated with design and permitting.
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.
The list price covers the property and plans only, requiring the buyer to possess significant additional capital and the appetite to manage a major ground-up construction project.
The existing 3,792 sq ft traditional home may offer limited appeal to move-in buyers, as the $4.995M valuation is primarily driven by the land and the specific development potential of the RTI plans.
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 |
|---|---|---|
| Beds | 6.0 | 3.0 |
| Baths | 7.0 | 2.0 |
| Square foot | 7,271 | 1,672 |
| Lot Size | 16,535 | 6,067 |
| Price | $5.00M | $1.37M |
| Price per sq ft | $687 | $801 |
| Built year | 0 | 1939 |
| HOA | $0 | $348 |
| Days on market | 45 | 56 |
Jun 8, 2026
$4,995,000
Initial Listing
May 17, 2024
$4,550,000
Public Record
Aug 25, 2023
$3,750,000
Public Record