491 Homewood Road, Los Angeles, California 90049, Los Angeles, 90049 - 5 bed, 8 bath

491 Homewood Road, Los Angeles, California 90049 home-pic-0
ACTIVE$7,950,000
491 Homewood Road, Los Angeles, California 90049
5Beds
8Baths
10,997Sqft
20,306Lot

Price Vs. Estimate

The estimated value ($7,241,070.75) is $708,929.25 (8%) lower than the list price ($7,950,000). This property may be overpriced.

Key pros and cons

Top Pros:
Great Schools: Elementary School: Fairburn Avenue Elementary School (9/10).
Top Cons:
Recently Sold Property: The property was recently sold within the past year on 2025-08-25. The sold price is $5,200,000.00.

Compared to the nearby listings

Price:$7.95M vs avg $3.95M (+$4,000,000)81%
Size:10,997 sqft vs avg 3,353 sqft97%
Price/sqft:$723 vs avg $1.3K2%

More Insights

Built in 1949 (76 years old).
Condition: The property, built in 1949, is explicitly marketed as a 'development opportunity' with 'fully approved RTI architectural plans and permits' for a new 11,000 sq. ft. estate. The listing provides no details or images of the existing home's interior, kitchen, or bathrooms, focusing entirely on the potential for new construction. The images provided show an older exterior, a functional but dated pool, and a tennis court, but nothing to suggest the existing structure is intended for habitation or renovation. The value is clearly in the expansive lot and the pre-approved plans for a new build, indicating the current structure is considered a tear-down.
Year Built
1949
Close
-
List price
$7.95M
Original List price
$9M
Price/Sqft
$723
HOA
-
Days on market
-
Sold On
-
MLS number
25498225
Home ConditionTear down
Features
Pool
Patio
View-

About this home

An exceptional development opportunity awaits on one of Brentwood's most sought-after streets. This expansive 20,300 sq. ft. flat corner lot on Homewood Road is being offered with fully approved RTI architectural plans and permits, including Haul Route approval. Construction can begin immediately, saving 3 years of planning and permitting, architectural and entitlement costs, and carrying expenses. Designed for those who appreciate timeless elegance and modern luxury, the proposed estate spans nearly 11,000 sq. ft. Thoughtfully curated for both grand entertaining and everyday living, the home will feature five spacious bedrooms, seven bathrooms, and two powder rooms. A private office, state-of-the-art gym, and wine cellar add both function and indulgence. For movie lovers, a dedicated home theater for a true cinematic experience, while an elegant bar creates the perfect setting for entertaining. An elevator connects all levels, ensuring seamless accessibility, while the expansive 3,000 sq. ft. garage comfortably accommodates six cars. Outside, a resort-style backyard awaits, complete with a stunning pool, a private pool house, and thoughtfully designed spaces for relaxation and gatherings. This is more than just a property; it's a chance to create something extraordinary in a premier Brentwood location. Architectural plans are available upon request. The original Builder and Architect, who were initially engaged for this project, can complete the build and deliver the finished home in approximately 24 months and for a fixed price of $24,000,000. Don't miss out on this rare opportunity.

Nearby schools

5/10
Brentwood Science School
Public,K-51.3mi
9/10
Franklin Elementary School
Public,PK-51.9mi
5/10
Brockton Avenue Elementary School
Public,K-52.1mi
7/10
Nora Sterry Elementary School
Public,K-52.8mi
9/10
Warner Avenue Elementary School
Public,K-53.1mi
9/10
Fairburn Avenue Elementary School
Public,K-53.3mi
9/10
Roscomare Road Elementary School
Public,K-53.9mi
8/10
Lanai Road Elementary School
Public,K-55.7mi
8/10
Lincoln Middle School
Public,6-82.6mi
6/10
Gaspar De Portola Middle School
Public,6-87.6mi
5/10
William Mulholland Middle School
Public,6-88.6mi
6/10
University Senior High School
Public,9-122.1mi
6/10
University Senior High School Charter
Public,9-122.1mi
8/10
Santa Monica High School
Public,9-123.9mi
6/10
Van Nuys Senior High School
Public,9-128.6mi

Price History

Date
Event
Price
08/25/25
Sold
$5,200,000
04/20/21
Sold
$6,400,000
Condition Rating
Tear down

The property, built in 1949, is explicitly marketed as a 'development opportunity' with 'fully approved RTI architectural plans and permits' for a new 11,000 sq. ft. estate. The listing provides no details or images of the existing home's interior, kitchen, or bathrooms, focusing entirely on the potential for new construction. The images provided show an older exterior, a functional but dated pool, and a tennis court, but nothing to suggest the existing structure is intended for habitation or renovation. The value is clearly in the expansive lot and the pre-approved plans for a new build, indicating the current structure is considered a tear-down.
Pros & Cons

Pros

Great Schools: Elementary School: Fairburn Avenue Elementary School (9/10).
Development Ready (RTI Plans): The property comes with fully approved RTI architectural plans and permits, including Haul Route approval, allowing immediate construction and saving approximately 3 years of planning, permitting, and associated costs.
Prime Brentwood Location: Situated on one of Brentwood's most sought-after streets, this premier location offers significant prestige and desirability.
Expansive Flat Corner Lot: The property boasts an expansive 20,300 sq. ft. flat corner lot, providing ample space for a grand estate and potential for enhanced privacy and design flexibility.
Luxury Proposed Estate Design: The proposed nearly 11,000 sq. ft. estate features 5 beds, 7 baths, 2 powder rooms, a private office, gym, wine cellar, home theater, bar, elevator, 6-car garage, and a resort-style backyard with a pool and pool house, catering to high-end luxury living.
Fixed-Price Construction Option: An option to engage the original builder and architect for a fixed price of $24,000,000 with a 24-month timeline provides cost certainty and a clear path to completion for the proposed luxury home.

Cons

Recently Sold Property: The property was recently sold within the past year on 2025-08-25. The sold price is $5,200,000.00.
Significant Total Investment: The combined cost of the land ($7.95M) and the proposed fixed-price construction ($24M) totals nearly $32M, representing a substantial capital outlay that narrows the potential buyer pool.
Extended Project Timeline: Despite RTI plans, the construction phase itself is estimated at 24 months, requiring a long-term commitment and tying up significant capital for an extended period before the finished asset is realized.
Market Value Discrepancy: The current list price of $7.95M is above the estimated property value of $7.24M, and significantly reduced from the original $9M, potentially indicating an ambitious valuation or a challenging market for this specific offering.

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