1371 Tower Grove Drive, Beverly Hills, California 90210, Beverly Hills, 90210 - 4 bed, 5 bath
ACTIVE$6,800,000
1371 Tower Grove Drive, Beverly Hills, California 90210
4Beds
5Baths
8,500Sqft
15,258Lot
Year Built
2024
Close
-
List price
$6.8M
Original List price
$6.8M
Price/Sqft
$800
HOA
-
Days on market
-
Sold On
-
MLS number
SR24237213
Home ConditionExcellent
Features
Excellent View: City Lights, Coastline, Hills, Ocean
Pool
ViewCity Lights,Coastline,Hills,Ocean
About this home
We found 2 Cons,3 Pros. Rank: price - $6.80M(58th), sqft - 8500(85th), beds - 4(45th), baths - 5(50th).
Great opportunity for developer/builder to complete construction of an 8500 square-foot custom luxury home in Beverly Hill PO! Framing, foundation, caissons and full set of plans have been completed under a valid building permit. Lot features great city views and 2 pools. Estimated sales price as completed is $20 million with approximately $4 million needed to complete the house. Seller will consider carrying up to 80% first position loan (not subordinate to construction loan) or a joint venture with a qualified developer that will invest $2 million.
Nearby schools
9/10
Warner Avenue Elementary School
Public,•K-5•1.9mi
9/10
West Hollywood Elementary School
Public,•K-5•2.2mi
9/10
Roscomare Road Elementary School
Public,•K-5•2.7mi
9/10
Wonderland Avenue Elementary School
Public,•K-5•2.9mi
8/10
Hawthorne Elementary School
Public,•K-8•1.8mi
8/10
El Rodeo Elementary School
Public,•K-8•2.1mi
6/10
Walter Reed Middle School
Public,•6-8•4.5mi
3/10
Hubert Howe Bancroft Middle School
Public,•6-8•5.1mi
2/10
Van Nuys Middle School
Public,•6-8•5.2mi
9/10
Beverly Hills High School
Public,•9-12•2.5mi
7/10
Fairfax Senior High School
Public,•9-12•3.8mi
6/10
University Senior High School
Public,•9-12•4.1mi
6/10
University Senior High School Charter
Public,•9-12•4.1mi
8/10
North Hollywood Senior High School
Public,•9-12•5.2mi
6/10
Ulysses S. Grant Senior High School
Public,•9-12•5.6mi
6/10
Van Nuys Senior High School
Public,•9-12•6.6mi
Condition Rating
Excellent
The property is newly built in 2024 and described as a custom luxury home. Although it requires completion, the existing framing, foundation, and plans suggest a high-quality build. The description indicates modern features like two pools and city views, aligning with an 'Excellent' condition score.
Pros & Cons
Pros
Development Opportunity: An excellent opportunity for a developer or builder to complete an 8500 sqft custom luxury home in a desirable Beverly Hills location.
Existing Infrastructure: Framing, foundation, caissons, and a full set of plans are already completed under a valid building permit, saving significant time and initial investment.
High Potential Value: The estimated sales price upon completion is $20 million, offering a substantial return on investment with an estimated $4 million needed to finish the project.
Cons
Incomplete Construction: The property requires an additional $4 million investment to complete the construction, posing a financial hurdle for some buyers.
Carrying Cost: The property is not yet habitable, which means the buyer will need to carry the cost of construction and the mortgage at the same time.