27
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$1,490,000
Est. payment /mo
4 Beds
2 Baths
2,511 SqFt
New
508 S Wilton Place Los Angeles, CA 90020
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Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 2,511 sqft
Price per Sqft $593
MLS Listing ID CL26854599
Bedrooms 4
Full Baths 2
HOA Y/N No
Year Built 1918
Lot Size 6,173 Sqft
Acres 0.1417
Property Sub-Type Single Family Residence
Property Description
Discover this captivating two-story single-family home nestled in the prestigious Hancock Park neighborhood one of Los Angeles' most coveted addresses. Step inside to find elegant hardwood flooring throughout, a refined formal dining room, and a bright, airy layout that exudes timeless charm. The main level offers two bedrooms along with a separate office space, providing versatile living and work-from-home flexibility. Upstairs, three additional bedrooms offer generous private retreats for family and guests. As sunlight dances through its windows during the day, the designer's lighting creates a magical ambiance at night. Step into the serene backyard, enveloped by lush trees, and find tranquility in the heart of the city. With some personal touches, this home has every potential to transform into a true gem- the bones are exceptional and the canvas is ready for its next chapter. And the neighborhood speaks for itself. Tree-lined streets, landmark estates, and the timeless elegance of Hancock Park surround you- one of the few neighborhoods in Los Angeles where prestige, history, and community come together seamlessly. This single-family residence sits on a site zoned R3-2, offering the following by-right development standards: Floor Area Ratio of 6:1 and building heights of up to 75 ft / 6 stories. Twice the development capacity of standard R3-1 zoning (FAR 3:1 / 45 ft). No RSO liability- existing single-family use carries no rent control obligations upon demolition or succession risk for newly constructed units. The site also qualifies for the following development incentives: TOC Tier 3 designated (per ZIMAS), unlocking density bonuses of up to 70%, FAR increases of up to 50%, and reduced parking requirements in exchange for on-site affordable units. ED1-eligible (per ZIMAS) for 100% affordable housing projects, enabling streamlined ministerial approval and accelerated entitlement timelines. Citywide Housing Incentive Program (CHIP) area, providing additional incentive pathways. The property is valued for its land. The existing structure is considered incidental to development potential. All property information is provided as a preliminary guide only. Buyers are advised to independently verify all details through their own due diligence and professional consultation.
Location
State CA
County Los Angeles
Zoning LAR3-2
Interior
Heating Central
Cooling Central Air
Flooring Carpet, Tile, Wood
Fireplaces Type Living Room
Fireplace Yes
Appliance Dishwasher
Laundry In Kitchen
Exterior
Pool None
View Y/N true
View City Lights, Trees/Woods
Total Parking Spaces 2
Private Pool false
Building
Story 2
Architectural Style Craftsman
Level or Stories Two Story
New Construction No
Others
Tax ID 5504026020
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Listed by May Myung Hahm • The Selected Properties
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NEARBY SCHOOL & BUSINESS
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Mike & Jules Guzzardo Team With Jenny Biczkow
Realtor | r01066846,01955798,02086289
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