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.
- 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);
- All offers must be received by June 25, 2020.
Self Guided Virtual Tours 24/7 and Guided Virtual Tours upon request.
Private tours are available by appointment to persons upon completion of the registration process, executing the confidentiality agreement and signing CAR Form PEAD (Coronavirus Property Entry Advisory and Declaration). Upon registration you will also be given access to the online data vault containing property documents and bidding documents.
Click on REGISTRATION below to review the confidentiality agreement, complete the registration process and access the online data vault.
|Property Type:||Single Family Home|
|Property Subtype:||Land Residential|
560 Marquette Street
Pacific Palisades , CA 90272
(View on map)
|Lot Size:||64,380 Sq Ft|
|Property APN:||4414-019-001; 4414-019-002; 4414-019-003|