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1524 Benedict Canyon Drive, Beverly Hills, California 90210, Beverly Hills, 90210 - 4 bed, 5 bath

1524 Benedict Canyon Drive, Beverly Hills, California 90210 home-pic-0
ACTIVE$2,500,000
1524 Benedict Canyon Drive, Beverly Hills, California 90210
4Beds
5Baths
5,300Sqft
56,346Lot
Year Built
1931
Close
-
List price
$2.5M
Original List price
$2.7M
Price/Sqft
$472
HOA
-
Days on market
-
Sold On
-
MLS number
25485172
Home ConditionTear down
Features
Good View: Canyon
Deck
Pool
Patio
ViewCanyon

About this home

We found 3 Cons,7 Pros. Rank: price - $2.50M(19th), sqft - 5300(67th), beds - 4(45th), baths - 5(50th).

READY TO BUILD, LETS GO!! 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.

Nearby schools

9/10
Warner Avenue Elementary School
Public,•K-5•2.0mi
9/10
Roscomare Road Elementary School
Public,•K-5•2.3mi
9/10
West Hollywood Elementary School
Public,•K-5•2.6mi
9/10
Wonderland Avenue Elementary School
Public,•K-5•3.2mi
8/10
Hawthorne Elementary School
Public,•K-8•2.2mi
8/10
El Rodeo Elementary School
Public,•K-8•2.4mi
6/10
Walter Reed Middle School
Public,•6-8•4.5mi
2/10
Van Nuys Middle School
Public,•6-8•4.9mi
3/10
Hubert Howe Bancroft Middle School
Public,•6-8•5.5mi
9/10
Beverly Hills High School
Public,•9-12•2.9mi
6/10
University Senior High School
Public,•9-12•4.1mi
6/10
University Senior High School Charter
Public,•9-12•4.1mi
7/10
Fairfax Senior High School
Public,•9-12•4.2mi
8/10
North Hollywood Senior High School
Public,•9-12•5.2mi
6/10
Ulysses S. Grant Senior High School
Public,•9-12•5.5mi
6/10
Van Nuys Senior High School
Public,•9-12•6.3mi

Price History

Date
Event
Price
10/05/20
Sold
$1,421,000
06/15/09
Sold
$730,000
Condition Rating
Tear down
This listing is for a vacant lot with permitted plans for a new construction, not an existing habitable property. The 'year_built: 1931' refers to a previous structure that has been removed. The property's value is based solely on the land and its potential for redevelopment, fitting the 'tear-down' criteria, as there is no existing structure to evaluate for kitchen, bathroom, or other interior conditions. The images provided are renderings of the proposed new build, not the current state of any existing home.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 56346, living area = 5300.
Great Schools: Elementary School: Warner Avenue Elementary School (9/10). High School: Beverly Hills High School (9/10).
Prime Location & Views: Nestled in the prestigious Benedict Canyon of Beverly Hills (90210), the property offers a highly desirable address with canyon views, appealing to high-net-worth individuals.
Construction Ready with Permitted Plans: The site is graded, cleared, and ready for immediate construction, with permitted plans (dated May 5, 2024) for a 5,300 sqft structure, significantly reducing development time and risk.
Extensive Pre-Construction Work Completed: Over 44 months of groundwork, including tree removals, dirt removal, retaining wall surveying, and a clear biology report, means substantial preliminary hurdles have been addressed.
Generous Buildable Area: A certified SA report indicates potential for up to 13,000 sqft of buildable space (11,500 sqft FAR + 1,500 sqft ADU), offering significant upside for a larger, high-value estate.
High Market Value Potential & Fast ROI: Located in a market with average square foot prices exceeding $1,000, the property offers substantial return on investment potential, with a projected 12-month turnaround for experienced builders.

Cons

High Entry Cost: The $2.5 million list price represents a substantial initial investment for raw land, which, combined with significant construction costs, requires considerable capital from the buyer.
Limited Current Permitted Size vs. Full Potential: While the site allows for up to 13,000 sqft, the current permitted plans are for a 5,300 sqft structure. Realizing the full build potential would require additional design and permitting, adding time and expense.
Market Volatility & Project Execution Risk: The projected 'quick turnaround' and 'substantial return' are contingent on favorable luxury market conditions and efficient project execution, making it susceptible to market shifts or unforeseen construction challenges.

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