Home Selling in Los Angeles>Question Details

RRichards, Both Buyer and Seller in Los Angeles, CA

Market Price for two perfect lots in Hollywood Hills

Asked by RRichards, Los Angeles, CA Thu Mar 27, 2008

I own two lots in the Hollywood Dell, they are nearly perfect, slightly slopped, incredible city views including Capitol Records, The Hollywood Sign, Canyons, perfect geo tests, 26,000 square feet, allowed to build four homes with shared common entrance and they are ready to build on. I'm wondering what I can price them for as there are no comps for these lots. The few lots I've seen would be incredibly hard to build on as they are hill sides. This lot has NEVER been built on since Hollywood was discovered. The views just make you sigh One lot is R1 and the other is R2. Any suggestions?

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Hi, again RRichards. I know the area well and you are right - the views from that area are incredible. And, of course, the Hollywood Dell is now and has always been a very desired area.

I would be happy to find the comps for you (no obligation). I do need a little bit of info as far as utilities and accessibility in order to do a thorough job.

Dot Chance
The Chance Team
Keller Williams Realty Studio City
Web Reference: http://www.DotChance.com
1 vote Thank Flag Link Thu Mar 27, 2008
Hello RRichards,

I saw someone in my group send out an email as a pocket for 3 mil. Is this your property? If not, I woul need the adress to provide you comps. You can email me at mcarrabba@kw.com


Monique Carrabba
1 vote Thank Flag Link Thu Mar 27, 2008
It's not the best time to sell land now. If you can wait for the next cycle, it will be worth the wait. If not, keep in mind that investors are having a hard time obtaining money for financing so there isn't much of a demand so you probably won't get the best pool of potential bidders. Enjoy the view for a little while more.
0 votes Thank Flag Link Tue May 20, 2008
Hi R Richards,
Our office has an in house appraiser who works on cases like this all the time. You can send him an email at AgopA@sbcglobal.net . He actually went through that same experience. He had bought a large lot and is just finishing the process of building two homes. It did take quite awhile and lots of paperwork and talks with banks, but he is almost done. He would be happy to help you with your appraisal questions,
You can also visit our website for more buyer and seller resources. We specialize in the Hollywood Hills area.
Good Luck to you
Lou & Alex
LA Real Estate Group
0 votes Thank Flag Link Mon Mar 31, 2008
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