516 N Crescent Heights Boulevard, Los Angeles, California 90048, Los Angeles, 90048 - 4 bed, 3 bath
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516 N Crescent Heights Boulevard
Los Angeles, California 90048
ACTIVE
CONDITION: FAIR
4Beds
3Baths
3,066Sq Ft
7,862Lot Size
Property Price
LIST PRICE$2,190,000
EST. MARKET VALUE
$2,157,863
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $2,190,000—positioned well below the $2,288,488 Fair Market Value by 4%. This valuation gap offers $98,488 in Instant Equity. With a Condition Rating of 4, the 1938 structure serves as a prime candidate for a luxury redevelopment on its expansive 7,862 sqft lot. Located near top-rated schools like West Hollywood Elementary, this is an ideal acquisition for Real Estate Developers or Owner-Occupants seeking to build a landmark residence.
Estimated Market Value
$2,157,863
Based on Realkey algorithm analyzing recent comparable sales in Los Angeles.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 516 N Crescent Heights Boulevard Subject 4 bd · 3 ba · 3,066 sqft · $704 | $2,190,000* List Price | 4 | 3 | 3,066 | $704 | - |
A 6216 W 5th Sold 4 bd · 3 ba · 2,518 sqft · $763 · 0.9 mi | $1,920,000 | 4 | 3 | 2,518 | $763 | 0.9 mi |
B 6464 Colgate Avenue Sold 3 bd · 2 ba · 2,443 sqft · $798 · 0.8 mi | $1,950,000 | 3 | 2 | 2,443 | $798 | 0.8 mi |
C 8130 Blackburn Avenue Active 6 bd · 6 ba · 3,944 sqft · $522 · 0.7 mi | $2,058,800 List Price | 6 | 6 | 3,944 | $522 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Originally built in 1938, the property features kitchen and bathroom renovations that appear to be approximately 20 years old. While the interior is functional and move-in ready, the finishes are dated, and the listing's emphasis on land value and redevelopment potential suggests the systems and overall aesthetic require significant updating to meet current market standards for the area.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
Elementary School: West Hollywood Elementary School (9/10). High School: Beverly Hills High School (9/10).
- Prime Beverly Grove Location
Situated in a highly sought-after 'blue-chip' neighborhood, the property offers unbeatable proximity to the premier retail, dining, and cultural hubs of Melrose Avenue and West Hollywood.
- Significant Development Potential
With a generous lot size of nearly 8,000 square feet, this parcel provides a rare and expansive footprint for developers or owner-users to create a landmark signature residence with ample indoor-outdoor space.
CONSRISKS & DEFICIENCIES
- Dated Existing Structure
Built in 1938, the current residence likely requires significant renovation or a complete teardown to meet the modern luxury standards of the surrounding neighborhood.
- Lack of Scenic Views
The property is noted as having no views, which may be a competitive disadvantage compared to other high-end listings in the Los Angeles area that offer city or hillside vistas.
About 516 N Crescent Heights Boulevard
Rarely does a parcel of this scale become available in prime Beverly Grove. Spanning nearly 8,000 square feet of prime land, this property represents a remarkable opportunity for developers, investors, or owner-users looking to create a landmark signature residence. Surrounded by multi-million dollar architectural new-construction homes, the generous footprint allows for exceptional indoor-outdoor design, pool/spa layout, and accessory space. Enjoy unbeatable proximity to premier retail, renowned restaurants, and culture on Melrose and West Hollywood. A blue-chip investment offering unmatched location, scale, and long-term value.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1938
- Lot Size
- 7,862 Sq. Ft.
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Los Angeles Unified Schools
Rosewood Avenue Elementary School, School for Advanced Studies
Grades K-6 • 0.5 mi
4/10
Hancock Park Elementary School
Grades K-5 • 0.8 mi
7/10
West Hollywood Elementary School
Grades K-5 • 1.4 mi
9/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 3.0 |
| Baths | 3.0 | 2.0 |
| Square foot | 3,066 | 1,670.836 |
| Lot Size | 7,862 | 6,152.156 |
| Price | $2.19M | $1.34M |
| Price per sq ft | $714 | $807 |
| Built year | 1938 | 1941 |
| HOA | $0 | $238 |
| Days on market | 57 | 56 |
Pricing History
Listed for Sale
Sep 13, 2026
$2,190,000
Initial Listing