507 Veteran Avenue, Los Angeles, California 90024, Los Angeles, 90024 - 3 bed, 2 bath

507 Veteran Avenue, Los Angeles, California 90024 home-pic-0

507 Veteran Avenue

Los Angeles, California 90024

ACTIVE
CONDITION: POOR
3Beds
2Baths
2,097Sq Ft
8,456Lot Size

Property Price

LIST PRICE$2,695,000
EST. MARKET VALUE
$2,215,472
21% AboveMARKET VALUE

SUMMARY

Estimated Market Value

$2,215,472
Based on Realkey algorithm analyzing recent comparable sales in Los Angeles.

Condition Analysis

OVERALL CONDITION SCORE

Poor
TeardownExcellent

Property is extensive renovation needed.

Built in 1936, this property is explicitly marketed as a 'redevelopment opportunity' and 'value-add' project for investors. While it retains original architectural details like vaulted wood-beam ceilings, the listing emphasizes its potential for expansion or new construction and includes RTI (Ready to Issue) plans. The 'as-is' condition and focus on land value suggest that the kitchen, bathrooms, and major systems are severely outdated or require substantial rehabilitation to meet modern standards.

PROSSTRENGTHS & OPPORTUNITIES

  • High Available Lot Utilization

    The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8456, living area = 2097.

  • Great Schools

    Elementary School: Fairburn Avenue Elementary School (9/10). High School: Beverly Hills High School (9/10).

CONSRISKS & DEFICIENCIES

  • Recently Sold Property

    The property was recently sold within the past year on 2025-10-03. The sold price is $2,330,000.00.

About 507 Veteran Avenue

Prime Westwood Development Opportunity – Exceptional Value-Add and Redevelopment Potential. Located in one of Los Angeles’ most sought after neighborhoods near UCLA and Westwood Village, this 3 bedroom, 2 bath 1930s property presents a rare opportunity for developers, investors, and builders to reposition, expand, or redevelop. Surrounded by high value properties and strong resale demand, the property offers an ideal canvas for redevelopment or major renovation. Existing structure features multiple living areas, vaulted wood-beam ceilings, fireplaces, and original architectural details, providing optional restoration value or redevelopment flexibility. The lot features a multi-level backyard with usable space and excellent potential for expansion, reconfiguration, or new construction. Property comes with RTI plans and professionally designed landscape plans in place.. Buyer to verify all development potential, zoning, plans, approvals, permits, and intended use with the City of Los Angeles. This is a true value-add opportunity in a premier Westwood location with close proximity to UCLA, Westwood Village, major employment hubs, retail, dining, and transit. Ideal for developers, builders, and investors seeking a project with significant upside in a high-demand market. Sold as-is.

Property Details

Public Facts

Property Type
Single Family Residence
Year Built
1936
Lot Size
8,456 Sq. Ft.

Interior

Total Bedrooms
3
Total Bathrooms
2 (2 Full, 0 Half)

Exterior & Parking

No exterior & parking available.

Utilities & Misc

HOA Fee
$0 / Month

Neighborhood Insights

Los Angeles Unified Schools

Warner Avenue Elementary School

Grades K-5 • 1.2 mi

9/10

Fairburn Avenue Elementary School

Grades K-5 • 1.5 mi

9/10

Brentwood Science School

Grades K-5 • 1.7 mi

5/10

Sensitive Facilities

No sensitive facilities data found.

Neighborhood Comparison

FeatureSubjectAverage HomeNeighborhood Ranking (50 Listings)
Beds3.04.0
31%
Baths2.04.0
25%
Square foot2,0972,893.5
25%
Lot Size8,4567,959
61%
Price$2.69M$3.49M
25%
Price per sq ft$1.3K$1.2K
56%
Built year19361936
50%
HOA$0$0
50%
Days on market17168
3%

Pricing History

Listed for Sale

Feb 17, 2026

$2,695,000

Initial Listing

Sold

Oct 3, 2025

$2,330,000

Public Record

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