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2042 Holly Drive, Los Angeles, California 90068, Los Angeles, 90068 - bed, bath

2042 Holly Drive, Los Angeles, California 90068 home-pic-0
ACTIVE$999,995
2042 Holly Drive, Los Angeles, California 90068
0Bed
0Bath
3,082Sqft
7,495Lot
Year Built
1919
Close
-
List price
$1,000K
Original List price
$1.83M
Price/Sqft
$324
HOA
-
Days on market
-
Sold On
-
MLS number
SR25110928
Home ConditionTear down
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1000.0K(33th), sqft - 3082(33th), beds - undefined(50th), baths - undefined(50th).

Rare Development Opportunity in the Heart of Hollywood Dell! FIRST TIME ON MARKET IN OVER 35 YEARS! Seize this chance to create a stunning condo or townhome project on a 7,493 sqft LARD2-zoned parcel in the coveted Hollywood Dell neighborhood. Just north of the iconic Capitol Records and the vibrant Sunset Vine development, this prime lot is surrounded by luxury condos, trendy restaurants, fitness studios, and production spaces, making it a hotspot for modern urban living. This property offers immediate flexibility for redevelopment. A recent appraisal (less than 30 days ago) valued it at $1.85M, highlighting its strong investment potential. With the right vision, a rooftop deck could showcase breathtaking views of the Hollywood Hills, Capitol Records, Downtown LA, and the Hollywood Bowl. Prime Location: Steps from Franklin Village Shops, Birds, The Oaks, Bourgeois Pig, Hollywood Lake Dog Park, Paramount, Universal Studios, CNN Building, Farmers Market, Hollywood Bowl, O Restaurant, Beauty & Essex, Tao, SoulCycle, Equinox, Off-Vine, Katsuya, and top-tier hiking trails with iconic Hollywood Sign views. Families will love the nearby kids’ parks, while professionals and creatives will appreciate the proximity to studios and entertainment hubs. This is a developer’s dream to craft a signature project in one of LA’s most dynamic neighborhoods. Don’t miss this unparalleled opportunity to shape the future of Hollywood Dell!

Nearby schools

6/10
Cheremoya Avenue Elementary School
Public,•K-6•0.5mi
4/10
Selma Avenue Elementary School
Public,•K-6•0.7mi
4/10
Grant Elementary School
Public,•K-6•1.1mi
8/10
Valley View Elementary School
Public,•K-6•1.4mi
7/10
Gardner Street Elementary School
Public,•K-6•1.4mi
7/10
Los Feliz STEMM Magnet
Public,•K-6•2.1mi
7/10
Rio Vista Elementary School
Public,•K-5•3.4mi
8/10
R. L. Stevenson Elementary School
Public,•K-5•3.5mi
3/10
Joseph Le Conte Middle School
Public,•6-8•1.2mi
3/10
Hubert Howe Bancroft Middle School
Public,•6-8•1.5mi
6/10
Thomas Starr King Middle School
Public,•6-8•2.9mi
5/10
David Starr Jordan Middle School
Public,•6-8•4.0mi
6/10
Walter Reed Middle School
Public,•6-8•4.4mi
6/10
Hollywood Senior High School
Public,•9-12•0.9mi
7/10
Fairfax Senior High School
Public,•9-12•2.5mi
8/10
John Marshall Senior High School
Public,•9-12•3.0mi
7/10
Burroughs High School
Public,•9-12•4.3mi
6/10
Burbank Unified Independent Learning Academy (Buila)
Public,•7-12•4.9mi
8/10
North Hollywood Senior High School
Public,•9-12•5.2mi

Price History

Date
Event
Price
09/12/25
Price Change
$999,995-33.3%
08/05/25
$1,500,000
05/22/25
$1,835,000
11/08/88
Sold
$104,000
Condition Rating
Tear down
Built in 1919, this property is explicitly marketed as a 'Rare Development Opportunity' with its value based on the land and potential for redevelopment. While some units appear to have recent cosmetic updates (new flooring, recessed lighting, modern bathroom in images 1-3, 8-9), at least one unit (images 4-7) is in extremely poor and outdated condition, featuring worn carpets, dated fixtures, an old kitchen with linoleum flooring, and a very old bathroom with a pedestal sink and original-era tiling. The description 'FIRST TIME ON MARKET IN OVER 35 YEARS' combined with the visual evidence of the unrenovated unit strongly suggests that major components in that unit have not been updated in over 50 years, making it uncomfortable and requiring substantial rehabilitation or demolition. The overall property is positioned for demolition and new construction rather than renovation of the existing structure.
Pros & Cons

Pros

Exceptional Development Potential: Zoned LARD2 for multi-family (condo/townhome) development on a generous 7,493 sqft lot, explicitly marketed as a 'developer's dream' in a prime location.
Prime Hollywood Dell Location: Situated in the highly coveted Hollywood Dell neighborhood, surrounded by luxury condos, trendy restaurants, entertainment hubs, and major studios.
Significant Price Reduction: Recently reduced from $1.835M to $999,995, offering a compelling investment opportunity at a substantially lower entry point.
Potential for Panoramic Views: Future development could capitalize on stunning rooftop views of the Hollywood Hills, Capitol Records, Downtown LA, and the Hollywood Bowl.
High Demand Urban Area: Proximity to major entertainment venues, cultural attractions, and urban amenities caters to a broad demographic of professionals and creatives.

Cons

Requires Full Redevelopment: The property is marketed as a development opportunity, implying the existing 1919 triplex will likely need to be demolished, adding significant upfront costs and project complexity.
Development Project Complexity: Undertaking a condo/townhome project involves substantial capital investment, extensive permitting processes, and a lengthy construction timeline.
Historical Price Volatility: The drastic price reduction from its original listing might raise questions about its initial valuation or market challenges, requiring clear justification for potential buyers.

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