An 2.9-acre undeveloped plot of land in Beverly Park — among the country’s most exclusive neighborhoods — is on the market for $29.5 million.
The price of just over $10 million per acre is more than three times average for Los Angeles County, according to the most recent data available from the Federal Housing Finance Agency. The property, which hasn’t traded hands for more than two decades, hit listing sites last week.
“A blank canvas,” boasts the listing, by Todd Stein of Campbell Wellman Properties, “that is a once in a lifetime opportunity to live in what many consider to be the most exclusive guard gated community in the country.”
Beverly Park is indeed famously posh, carrying the 90210 zip in the hills between downtown Beverly Hills and the San Fernando Valley, just west of Franklin Canyon Park. The area has long been known for its famous residents, who have included everyone from Samuel L. Jackson and Dwayne “The Rock” Johnson to Wayne Gretzky and Saudi royals. In some recent counts the community, which has strict privacy standards and has just 82 total homes, according to one report, has also ranked as the richest neighborhood in Los Angeles County.
The 2.9-acre parcel that just came up for sale is located at 57 North Beverly Park, in the community’s larger northern section, and includes “over 450 feet of frontage along the rim with sweeping canyon and city views,” according to the listing.
The property owner is undisclosed. It has not been listed for over 20 years, according to the listing; county property assessment records show a land value of $8.4 million was recorded in October 2000.
Even without a built home, the asking price falls within the range of recent transactions in the neighborhood: Last month a Saudi billionaire sold an 11-bedroom home down the road sold for $25 million, and in September a sports apparel company founder sold another Beverly Park mansion for $29 million.
The post Undeveloped plot in Beverly Park lists for $10M per acre appeared first on The Real Deal Los Angeles.
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