Pacific Palisades and Altadena

Land parcels where residences were destroyed by wildfires are asking and selling for prices exceeding early expectations

REAL ESTATE • On the Market

Land parcels where residences were destroyed by wildfires in Pacific Palisades and Altadena are asking and selling for prices exceeding early expectations, according to The Wall Street Journal:

Land sellers are now asking for roughly the same value — or even above — their land’s estimated pre-fire valuation. As a rule of thumb, brokers estimate that a land plot is worth between 40% and 60% of a property’s overall value in Los Angeles, though the precise estimate varies based on the location and size of the parcel.

Most buyers of these plots, per the WSJ, are small to midsize real estate investors and developers offering all-cash deals. Here, three such properties in Pacific Palisades that have come to market in the past week.

→ 743 Haverford Ave (Via Bluffs) • 5998 SF • Ask: $2.595M • phase 1 EPA remediation completed • Days on market: 6 • Agents: Tyler Hill and Ben Belack, The Agency.

→ 755 Iliff St (Alphabet Streets, above) • 6499 SF • Ask: $2.899M • zoned for R1V1, phase 1 EPA remediation and phase 2 debris removal by Army Corps completed • Days on market: 3 • Agent: Jennifer Pinckert, Compass.

→ 826 Alma Real Dr (Huntington) • 8629 SF • Ask: $3.995M • phase 1 EPA remediation completed, in queue for phase 2 • Days on market: 5 • Agent: Sergio Guadarrama, Rodeo Realty.