<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0708</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0002034057</cik>
        <entityName>Petersen Eloy 501, LLC</entityName>
        <issuerAddress>
            <street1>3369 E QUEEN CREEK RD, STE 101</street1>
            <city>GILBERT</city>
            <stateOrCountry>AZ</stateOrCountry>
            <stateOrCountryDescription>ARIZONA</stateOrCountryDescription>
            <zipCode>85297</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>6025408151</issuerPhoneNumber>
        <jurisdictionOfInc>ARIZONA</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Liability Company</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2024</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Kevin</firstName>
                <middleName>Don</middleName>
                <lastName>Petersen</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>3369 E Queen Creek Rd Ste 101</street1>
                <city>Gilbert</city>
                <stateOrCountry>AZ</stateOrCountry>
                <stateOrCountryDescription>ARIZONA</stateOrCountryDescription>
                <zipCode>85297</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Primary Promoter and President/Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Kevin</firstName>
                <middleName>Adam</middleName>
                <lastName>Petersen</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>3369 E Queen Creek Rd Ste 101</street1>
                <city>Gilbert</city>
                <stateOrCountry>AZ</stateOrCountry>
                <stateOrCountryDescription>ARIZONA</stateOrCountryDescription>
                <zipCode>85297</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Tanner</firstName>
                <middleName>Don</middleName>
                <lastName>Petersen</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>3369 E Queen Creek Rd Ste 101</street1>
                <city>Gilbert</city>
                <stateOrCountry>AZ</stateOrCountry>
                <stateOrCountryDescription>ARIZONA</stateOrCountryDescription>
                <zipCode>85297</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Brian</firstName>
                <lastName>Matlock</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>4235 E Montecito Ave</street1>
                <city>Phoenix</city>
                <stateOrCountry>AZ</stateOrCountry>
                <stateOrCountryDescription>ARIZONA</stateOrCountryDescription>
                <zipCode>85018</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Carter</firstName>
                <lastName>Wilson</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1702 E Highland Ave</street1>
                <street2>Ste 120</street2>
                <city>Phoenix</city>
                <stateOrCountry>AZ</stateOrCountry>
                <stateOrCountryDescription>ARIZONA</stateOrCountryDescription>
                <zipCode>85016</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>David</firstName>
                <lastName>Wilson</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1702 E Highland Ave</street1>
                <street2>Ste 120</street2>
                <city>Phoenix</city>
                <stateOrCountry>AZ</stateOrCountry>
                <stateOrCountryDescription>ARIZONA</stateOrCountryDescription>
                <zipCode>85016</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Residential</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>No Revenues</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06b</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0002034057-24-000001</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2024-10-02</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>10000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Petersen Properties &amp; Management Inc</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>3369 E Queen Creek Rd Ste 101</street1>
                    <city>Gilbert</city>
                    <stateOrCountry>AZ</stateOrCountry>
                    <stateOrCountryDescription>ARIZONA</stateOrCountryDescription>
                    <zipCode>85297</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>AZ</state>
                    <description>ARIZONA</description>
                    <state>UT</state>
                    <description>UTAH</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Brian Matlock</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>4235 E Montecito Ave</street1>
                    <city>Phoenix</city>
                    <stateOrCountry>AZ</stateOrCountry>
                    <stateOrCountryDescription>ARIZONA</stateOrCountryDescription>
                    <zipCode>85108</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>AZ</state>
                    <description>ARIZONA</description>
                    <state>UT</state>
                    <description>UTAH</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Kevin D. Petersen</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>3369 E Queen Creek Rd Ste 101</street1>
                    <city>Gilbert</city>
                    <stateOrCountry>AZ</stateOrCountry>
                    <stateOrCountryDescription>ARIZONA</stateOrCountryDescription>
                    <zipCode>85297</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>AZ</state>
                    <description>ARIZONA</description>
                    <state>UT</state>
                    <description>UTAH</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Kevin A. Petersen</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>3369 E Queen Creek Rd Ste 101</street1>
                    <city>Gilbert</city>
                    <stateOrCountry>AZ</stateOrCountry>
                    <stateOrCountryDescription>ARIZONA</stateOrCountryDescription>
                    <zipCode>85297</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>AZ</state>
                    <description>ARIZONA</description>
                    <state>UT</state>
                    <description>UTAH</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Tanner D. Petersen</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>3369 E Queen Creek Rd Ste 101</street1>
                    <city>Gilbert</city>
                    <stateOrCountry>AZ</stateOrCountry>
                    <stateOrCountryDescription>ARIZONA</stateOrCountryDescription>
                    <zipCode>85297</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>AZ</state>
                    <description>ARIZONA</description>
                    <state>UT</state>
                    <description>UTAH</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Carter Wlson</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>1702 E Highland Ave</street1>
                    <street2>Ste 120</street2>
                    <city>Phoenix</city>
                    <stateOrCountry>AZ</stateOrCountry>
                    <stateOrCountryDescription>ARIZONA</stateOrCountryDescription>
                    <zipCode>85016</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>AZ</state>
                    <description>ARIZONA</description>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                    <state>FL</state>
                    <description>FLORIDA</description>
                    <state>IL</state>
                    <description>ILLINOIS</description>
                    <state>MA</state>
                    <description>MASSACHUSETTS</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>David Wilson</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>1702 E Highland Ave</street1>
                    <street2>Ste 120</street2>
                    <city>Phoenix</city>
                    <stateOrCountry>AZ</stateOrCountry>
                    <stateOrCountryDescription>ARIZONA</stateOrCountryDescription>
                    <zipCode>85016</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>AZ</state>
                    <description>ARIZONA</description>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                    <state>FL</state>
                    <description>FLORIDA</description>
                    <state>IL</state>
                    <description>ILLINOIS</description>
                    <state>MA</state>
                    <description>MASSACHUSETTS</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>6000000</totalOfferingAmount>
            <totalAmountSold>5130000</totalAmountSold>
            <totalRemaining>870000</totalRemaining>
            <clarificationOfResponse>There is a minimum offering of $1,900,000 and a maximum offering of $6,000,000. Phase 1 is split into Phase 1a ($1,900,000) and Phase 1b ($1,100,000). Phase 2 is $3,000,000. Any estimates in this report will be based on the expected range.</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>true</hasNonAccreditedInvestors>
            <numberNonAccreditedInvestors>14</numberNonAccreditedInvestors>
            <totalNumberAlreadyInvested>20</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>175000</dollarAmount>
                <isEstimate>true</isEstimate>
            </findersFees>
            <clarificationOfResponse>origination fee will be paid to promoters. $100,000 total following Phase 1a/b and $75,000 upon phase 2. Any outside real estate commissions paid by the seller of assets acquired to the promoters real estate company is not included.</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>175000</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>explanation is the same as provided in section 15</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Petersen Eloy 501, LLC</issuerName>
                <signatureName>Kevin Petersen</signatureName>
                <nameOfSigner>Kevin Petersen</nameOfSigner>
                <signatureTitle>Manager</signatureTitle>
                <signatureDate>2025-03-03</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
