UNBELIEVABLE 1031 EXCHANGE AND DEVELOPMENT OPPORTUNITY!!! Welcome to "The Promontory HH", an exceptional development opportunity of a roughly 9200 sq ft mid century modern masterpiece on an extremely privatized promontory lot in the Hollywood Hills with 270 degree and unobstructed jetliner views of the valley, the Hollywood Sign, DTLA, city, and ocean. Conveniently skip years of navigating the bureaucracies and complexity of LADBS and Mulholland Design Review Board and move forward with the development of this epic estate that will be delivered Ready-To-Issue (RTI) to the Buyer. The most recent notable comp to this project is 7000 Macapa, another mid century modern on a promontory lot that sold for over $2000 a foot in 2022, which would put this project at a potential valuation of NEARLY $20,000,000 once completed! With notable propositions such as the Wildlife District Ordinance and tightening requirements from Mulholland Design Review Board, this project may very well be one of the last approved projects of this size and magnitude in the area. Within a stones throw to Runyon Canyon and minutes to all of the best restaurants, entertainment, and nightlife that Hollywood and Studio City has to offer. Truly a jaw-dropping development opportunity that will be delivered RTI with millions in potential upside.
Additional Features
- Panoramic
- Ocean
- Mountain(s)
- City Lights
- Canyon
- Landmark
- Valley
- Coastline
- Listing Status: Pending
- Listing Agent: Oliver Thornton
(lic# 01969227)
of CLAW
- Listing Office: Hollywood Estates
(lic# 02014153)
-
Based on information from CRISNet MLS as of 4th May 2024 at 2:44am. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
