516 N Crescent Heights, Los Angeles, California 90048, Los Angeles, 90048 - 4 bed, 3 bath
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516 N Crescent Heights
Los Angeles, California 90048
ACTIVE
CONDITION: TEAR DOWN
4Beds
3Baths
3,066Sq Ft
7,862Lot Size
Property Price
LIST PRICE$2,250,000
EST. MARKET VALUE
$2,152,618
4% AboveMARKET VALUE
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $2,250,000—positioned well above the $2,152,619 Fair Market Value by 4%. While the pricing reflects a premium for the land, the expansive 7,862 square foot lot in prime Beverly Grove offers significant upside for a luxury redevelopment. With a Condition Rating of 6, the existing structure serves as a canvas for a landmark residence. Proximity to Top-Rated Schools like West Hollywood Elementary and Beverly Hills High adds long-term stability, making this an ideal acquisition for Developers or Owner-Occupants seeking a custom build.
Estimated Market Value
$2,152,618
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 Subject | $2,250,000* List Price | 4 | 3 | 3,066 | $702 | - |
A 620 N Kilkea Drive Sold | $1,950,000 | 5 | 4 | 2,424 | $804 | 0.1 mi |
B 360 N Edinburgh Avenue Sold | $1,630,000 | 4 | 2 | 2,058 | $792 | 0.2 mi |
C 6464 Colgate Avenue Sold | $1,950,000 | 3 | 2 | 2,443 | $798 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Tear down
TeardownExcellent
Property is land value only, full reconstruction required.
Built in 1938 and explicitly marketed as a development opportunity for its land value, this property is surrounded by new construction. The interior features a dated kitchen and original vintage bathrooms, while the presence of window AC units indicates a lack of modern HVAC systems. At 86 years old with no significant recent renovations, it is positioned as a site for a new landmark residence.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
Elementary School: West Hollywood Elementary School (9/10). High School: Beverly Hills High School (9/10).
- Prime Development Opportunity
The expansive 7,862 square foot lot is significantly larger than average for the Beverly Grove area, providing a rare canvas for a high-end custom estate or luxury redevelopment.
- Prestigious Location
Situated in a blue-chip neighborhood near Melrose and West Hollywood, the property offers unbeatable proximity to world-class dining, retail, and cultural landmarks.
CONSRISKS & DEFICIENCIES
- Dated Infrastructure
Built in 1938, the existing structure likely requires extensive renovation or a complete teardown to meet the standards of the surrounding modern luxury market.
- Lack of Scenic Views
The property is noted as having no views, which may be a competitive disadvantage compared to other high-end hillside or elevated listings in the broader Los Angeles area.
About 516 N Crescent Heights
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 | 1,664.159 |
| Lot Size | 7,862 | 6,066.556 |
| Price | $2.25M | $1.35M |
| Price per sq ft | $734 | $806 |
| Built year | 1938 | 1939 |
| HOA | $0 | $278 |
| Days on market | 18 | 55 |
Pricing History
Listed for Sale
Aug 22, 2026
$2,250,000
Initial Listing