8720 Ashcroft Avenue, West Hollywood, California 90048, West Hollywood, 90048 - 4 bed, 2 bath

8720 Ashcroft Avenue, West Hollywood, California 90048 home-pic-0
ACTIVE$2,795,000
8720 Ashcroft Avenue, West Hollywood, California 90048
4Beds
2Baths
2,244Sqft
5,179Lot
Year Built
1927
Close
-
List price
$2.79M
Original List price
$2.79M
Price/Sqft
$1,246
HOA
-
Days on market
-
Sold On
-
MLS number
25506861
Home ConditionTear down
Features
View

About this home

We found 2 Cons,3 Pros. Rank: price - $2.79M(58th), sqft - 2244(50th), beds - 4(50th), baths - 2(27th).

Situated in the heart of West Hollywood, this property is a prime teardown opportunity, offering exceptional potential for an investor, developer, or owner-user looking to build their dream home. Since purchasing, the current owner has taken significant steps to prepare the property for redevelopment, including complete asbestos and lead reports, a site survey, and soil reports. Currently vacant and heavily gutted, the property sits on an expansive lot in a highly desirable location, presenting a rare opportunity to rebuild a Single Family Home + ADU or a Duplex in one of LA's most sought-after neighborhoods. The owner can provide documentation supporting exemption from low-income/affordable unit replacement requirements. The property is subject to the West Hollywood Rent Stabilization Ordinance, but it is being delivered vacant and without tenants. Therefore, any newly constructed units at the property can be listed for market rates. Don't miss this opportunity to redevelop this West Hollywood gem! Property to be sold as-is / teardown. Any buyers and/or agents wishing to tour must sign a liability waiver.

Price History

Date
Event
Price
06/15/23
Sold
$2,275,000
06/16/14
Sold
$1,300,000
Condition Rating
Tear down

The property, built in 1927, is described as a teardown opportunity and is heavily gutted. The images confirm this, showing a dilapidated interior state. It requires demolition and redevelopment, making it unlivable in its current condition.
Pros & Cons

Pros

Prime Location: Located in the highly desirable West Hollywood, offering excellent access to amenities and attractions.
Redevelopment Opportunity: Presents a rare opportunity to rebuild a Single Family Home + ADU or a Duplex, maximizing potential value.
Prepared for Redevelopment: The owner has already completed asbestos and lead reports, a site survey, and soil reports, streamlining the redevelopment process.

Cons

As-Is Condition: The property is being sold as-is and is currently heavily gutted, requiring significant investment for redevelopment.
Subject to Rent Stabilization Ordinance: While delivered vacant, the property is subject to the West Hollywood Rent Stabilization Ordinance, which could impact future rental regulations (though new units can be listed at market rates).

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI

Browse Properties by State Browse housing market trends by state