This site is located in the heart of the famed Bel Air neighborhood of Los Angeles. This area is internationally renowned and is one of the world’s most prestigious residential locations. Bel Air is home to many celebrities and is synonymous with wealth and glamour. The site is near the exclusive Bel Air Hotel. Development sites in Bel Air are scarce. This one is especially attractive site as it is entitled, by right, for a new home sized up to 15,000 square feet. The lot has both city and ocean views, is gated, and has its own private driveway. A storied property, recently a developer constructed a 25,000+ square foot residence which greatly exceeded the entitlements.
After years of lawsuits, a ruling was issued to demolish the partially built structure. In December of 2021 Sahara Construction purchased the site and deconstructed the house. Currently, the lot is clean and ready for development. Retaining walls and most of the site work are in place. Drawings have been completed for a new home, or if desired, purchaser can have their own design commissioned and build a home to their specifications. The site was recently appraised at $19,100,000. The appraisal also provided an estimate of value for a, to be completed, 14,000 square foot home at $40,600,000. For a savvy developer this opportunity has a significant amount of potential equity
