SINGLE FAMILY HOME IN PACIFIC PALISADES

Pacific Palisades 1.5-acre vineyard estate with 8 entitled homesites

FULLY ENTITLED DEVELOPMENT SITE

Kennedy Wilson Real Estate Sales & Marketing, as exclusive sales agent, is pleased to present this generational opportunity to acquire a 1.5-acre private vineyard estate with a storied past and a boundless future that is literally 100 years in the making. Nestled atop the Las Pulgas Canyon, just south of Sunset Blvd in Pacific Palisades and about ½ mile as the crow flies to the ocean, this extraordinary property is now entitled for development of up to eight stunning new ocean-view homes or it can be reimagined as a private family compound and vineyard set behind majestic gates. Offered for the first time since 1926 with 8 legal, buildable lots, 560 to 620 Marquette Street will appeal to a broad range of custom home builders, land investors and owner/users alike.

OFFERING HIGHLIGHTS
- Approvals for up to 8 new single family residences with City Planning Commission entitlements;
- Preliminary plans for all 8 homes; actual hard and soft costs exceeded $1.5M over a 4-year process;
- Average Lot Size – 8060 sq. ft.; Average Home Size (including basements) – 6,861 sq. ft.; Average Total Floor Space per Home (including garages, porches, decks) 8,415 sq. ft.;
- Renderings for a private family compound with 16,000 sq. ft. estate home, guest house, tennis court and garage;
- Approvals allow for maximum flexibility. Keep the best of what’s there, build a new estate home on 4 or more lots and sell off the rest;
- A review of 15 recent new home sales in the subject market show an average sale price of $5,800,000 for an average 5,528 sq. ft. home, or $1,067 per sq. ft. (see “CMA” in due diligence vault);
- A review of 14 recent sales of “teardown” homes show an average size lot of 8,082 sq. ft. selling for approximately $2,468,000, or $305 per sq. ft. (see “CMA” in due diligence vault).

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Property Information

Property Type:Single Family Home
Property Subtype:Land Residential
Address: 560 Marquette Street
Pacific Palisades , CA 90272
(View on map)
Bedrooms:7
Bathrooms:5
Square Feet:2,501
Lot Size:64,380 Sq Ft
Property APN:4414-019-001; 4414-019-002; 4414-019-003
County:Los Angeles

Auction Information

Status:Closed

Listing Agent Information

Agent Name: Andy Levant (email)
Agent Phone: 310-559-1000
Company: Kennedy Wilson Auction Group
Agent Name: Rhett Winchell (email)
Agent Phone: 310-887-6446
Company: Kennedy Wilson Auction Group

34.045574, -118.541781

This property (the "Property") is offered together with improvements thereon "as is, where is" with no warranty expressed or implied. The Seller and Kennedy Wilson make no representations regarding the Property offered for sale such as size and condition of improvements, lot size, boundaries, zoning, code violations, compliance with applicable ordinances, property features, rights, obligations, etc. All information and documents provided by the Seller and Kennedy Wilson are from sources deemed to be reliable but are not guaranteed. A prospective purchaser must rely on its own investigation and inspections prior to purchasing. Property is offered subject to withdrawal or prior sale at any time prior to a legally binding purchase and sale agreement. The legally binding purchase and sale agreement contains the entire agreement between parties and supersedes all prior communications, whether oral or written, express or implied, between the parties. EQUAL HOUSING OPPORTUNITY