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Key Details
Sold Price $1,925,000
Property Type Vacant Land
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SB23213596
Sold Date 05/31/24
HOA Y/N No
Lot Size 4,360 Sqft
Property Description
Tremendous opportunity for developers and owner/users alike. Project is shovel ready, and includes fully-approved, ready-to-issue permits. Purchase includes architectural plans for two stunning, detached coastal-modern townhomes conceptualized by Wolf Brothers Development and designed by Mark Trotter of Trotter Building Designs. Concave, R2 lot offers the potential for spectacular, panoramic ocean views from both units. Projected building costs and recent sales comps make this an excellent ROI opportunity. // Plans show 6,336 total square feet split between two luxurious freestanding, multi-level homes each with an elevator. UNIT A: 3 beds, 4 baths, 2,671sf of living space, with 706sf of decks including a huge rooftop deck. UNIT B: 4 beds, 5 baths, den, bonus room, 3,665sf of living space, with 528sf of decks. Both units offer MASSIVE ocean views stretching from Palos Verdes to Malibu. // Run the numbers, you’ll like what you see: comps easily support $950-$1,000/sf. Location is excellent: steps to award-winning schools, world-famous beaches, fine dining, and lively nightlife. Buy today and bypass the 1-2 years waiting for permits with the city building department. All due diligence is completed, you can start building these beautiful homes immediately. // View the YouTube link for an immersive video flythrough of the finished property. Please contact listing agent for floor plans and further details.
Location
State CA
County Los Angeles
Area 150 - Hermosa Bch East
Zoning HBR2YY
Interior
Fireplace No
Exterior
Community Features Curbs, Water Sports
View Y/N Yes
View Neighborhood, Ocean
Building
Lot Description 0-1 Unit/Acre, Tear Down
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 4186019003
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with Steven Mullins • Vista Sotheby’s International Realty