1524 Benedict Canyon Drive, Beverly Hills, CA 90210 (MLS # 24414355)
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HUGE PRICE REDUCTION. SELLER WILL LOOK AT OFFERS!! Discover this Prime INVESTMENT OPPORTUNITY with PERMITTED PLANS dated May 5, 2024 Nestled in the prestigious Benedict Canyon of Beverly Hills, 1524 Benedict Canyon Drive presents a golden opportunity for investors, builders, and developers. This 1.29-acre site is not just a piece of land; it's a canvas for your next high-value project. Here is why you should seize this chance: Unmatched Build Potential! Generous Buildable Area: Certified SA report allows for a minimum of 11,500* sqft FAR (*Buyer to do their own due diligence), with an additional 1,500 sqft ADU. This totals an impressive 13,000 sqft of buildable space. Permitted Plans: Current plans permit a 5,300 sqft structure, with detailed renderings available for your review. Substantial Progress and Preparation. In the last 44 months, significant groundwork has been laid, including: Free of Encumbrances: Enjoy one year free of encumbrances, ensuring a smooth start to your project. Protected Tree Removals: Necessary tree removals have been completed, with a bond secured for replanting four new oak trees. Comprehensive Design and Permitting: Over a year dedicated to design and permitting, streamlining your development process. Site Preparation: Eight months of rigorous preparation, including the removal of 500 yards of dirt and surveying of retaining walls, means the site is ready for caisson installation tomorrow. Clear and Ready for Construction Biology Report: Completed and clear, with no endangered species or plants. Construction Ready: Grade cut and ready for immediate construction activities. Significant Upside Hard Work Completed: All preliminary work is done, paving the way for a smooth construction phase. Potential for SB9A Lot Split: Explore the possibility of increasing value through a lot split. Market Potential: In a market where average square foot prices are $1,000+, and previously market prices peaked at $1,500 psf, the return on investment here is substantial! Quick Turnaround for Profitable Return For an experienced builder, this property can be transformed and ready for sale within 12 months. With the groundwork laid and market conditions favorable, 1524 Benedict Canyon Drive is not just a purchase; it's a pathway to profitable success. Act Now, Don't miss out on this rare opportunity to develop a prime property in one of the most sought-after areas in Beverly Hills. Contact us today to explore the full potential of 1524 Benedict Canyon Road. This is a moment to turn vision into reality, and this property is the perfect starting point. Invest in success at 1524 Benedict Canyon Drive.
| DAYS ON MARKET | 165 | LAST UPDATED | 11/20/2024 |
|---|---|---|---|
| YEAR BUILT | 1931 | COMMUNITY | Beverly Hills Post Office |
| COUNTY | Los Angeles | STATUS | Active |
| PROPERTY TYPE(S) | Single Family |
| PRICE HISTORY | |
| Prior to Nov 18, '24 | $3,500,000 |
|---|---|
| Nov 18, '24 - Nov 20, '24 | $3,250,000 |
| Nov 20, '24 - Today | $2,875,000 |
| ADDITIONAL DETAILS | |
| AIR | None |
|---|---|
| AREA | Beverly Hills Post Office |
| FIREPLACE | Yes |
| GARAGE | Covered, Driveway, Guest, On Street, Side by Side |
| HEAT | None |
| LOT | 1.29 acre(s) |
| PARKING | Covered,Driveway,Guest,On Street,Side By Side |
| POOL DESCRIPTION | See Remarks |
| STORIES | 2 |
| STYLE | Contemporary |
| VIEW | Yes |
| VIEW DESCRIPTION | Canyon |
| ZONING | LARE40 |
TOTAL MONTHLY PAYMENT
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