508 S Wilton Place
Los Angeles, CA, 90020
$1,360,000
Original list price: $1,490,000
MLS: 26854599
Beds
4
Baths
2
Sq Ft
2,511
Lot
0.14 ac
Year Built
1918
MLS #
26854599
Days on Market
41
Listed
Jul 1, 2026
Description
Priced to sell / 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
Los Angeles, Los Angeles County, CA 90020
Open on Google Maps ↗Listed by: May Myung Hahm · The Selected Properties
Listing information is provided courtesy of the Greater Antelope Valley Association of Realtors (GAVAR) and California Regional MLS (CRMLS). Information is deemed reliable but not guaranteed accurate by the MLS or by Mike Watson. All data, including square footage, lot size, room count, permits, and school assignment, should be independently verified. Properties shown may be listed by brokerages other than Keller Williams Realty. Listings are subject to prior sale, change, or withdrawal without notice.
Payment estimate
$10,117
/ month (est.)
Principal, interest, taxes, and insurance + PMI. Down payment: $136,000 · Loan: $1,224,000
Average 30-yr fixed rate 6.69% as of Aug 6, 2026 (Freddie Mac PMMS). Adjust to your quote.
- Principal & Interest
- $7,890
- Property tax (1.25%)
- $1,417
- Homeowners insurance
- $300
- Mortgage insurance
- $510
Login required. The full tool supports FHA / VA / USDA, PMI by credit tier, lender fees, and total cash to close — with your inputs here carried over.
Today's Rates
As of Aug 6, 2026
- 30-year fixed
- 6.69%
- 15-year fixed
- 6.01%
Source: Freddie Mac Primary Mortgage Market Survey (PMMS). Updated weekly.
About the area · Mike Watson
About the Antelope Valley
The Antelope Valley spans Lancaster, Palmdale, Quartz Hill, Rosamond, Lake Los Angeles, California City, Edwards AFB, and the Plant 42 aerospace corridor. Mike Watson is a lifelong AV resident and the #1 producing individual Realtor in the region by transaction count. Every active listing on this site is paired with a free market analysis tailored to the specific street, honest financing guidance (FHA, VA, USDA, CalHFA, conventional, and assumable loans where the financing supports it), and side-by-side comparisons against the rest of the active inventory in your target ZIP.
Financing Options
FHA Financing — 3.5% Down＋
First-time and repeat buyers can purchase this Los Angeles home with as little as 3.5% down using an FHA loan — roughly $47,600 down. FHA loans feature flexible credit guidelines and government-backed rates, making homeownership accessible for buyers who haven't saved a large down payment. Seller concessions up to 6% of the purchase price are also allowed.
Local Market Stats
See Los Angeles, CA 90020 market trends →
Median sold price, days on market, active inventory, price brackets, and 12-month trends — pulled live from the MLS.
★#1 Producing Individual Realtor — Antelope Valley
Only large teams outsell Mike Watson · Keller Williams Realty
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