Description
Motivated seller! Great development opportunity to acquire an 11,000+ sq ft lot in prime Studio City hills, directly overlooking Weddington Golf and Tennis Club (soon to be Harvard Westlake River Park). Located south of Ventura Blvd, this property provides sweeping views of the valley yet is within walking distance of Studio City's shops and restaurants. The lot is on a quiet residential street with no through traffic to Mulholland or the canyons. The seller has extensive plans for a unique approx. 4,000 sqft, 5BD/4BA home with rooftop backyard pool and elevator. Plans, surveys and reports are available. Seller is currently addressing the city's comments before resubmission. Geology and Soils Report is approved by the City Grading department. Per seller, estimated construction costs are $2M and property could be valued at $4.5M+ on completion. A wonderful opportunity for a visionary developer or investor. Seller also open to partnership. Photos are architectural renderings.
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