28901 Selfridge Drive, Malibu, CA 90265 (MLS # 221004837)

28901 Selfridge Drive, Malibu, CA 90265 (MLS # 221004837)

Price $4,750,000
Status Active
Beds n/a
Baths 0 Bath
Home size n/a
Lot Size 1.28 ac
Days on Market 304
Residential Lot Available on Point Dume in Malibu, CA$4,750,000 1.28 ACRE MALIBU ESTATE LOT FOR SALE $5,200,000 Construction Costs 8,000 SQFT. @ $650/SQFT. $9,950,000 TOTAL DEVELOPMENT COSTS $16,000,000 RESALE @ only $2,000/SQFT. ($2,200+ average) $6,000,000 Estimated PROFIT* OCEAN VIEW LOT: Breathtaking Panoramic 'Queen's Necklace' views from Pacific Palisades to Palos Verde Peninsula* VERY PRIVATE: 1.28 Acre mostly flat, gently sloping * PRIVATE BEACH ACCESS: To Exclusive, Coveted Riviera II Little Dume Surf Beach* HORSE FRIENDLY: Short ride to Bonsall Canyon or Ramirez Canyon* FIRST TIME: On the Market in 50 YearsThis beautiful property sits at the crest of the highest views on Point Dume. At night, the unobstructed twinkling city lights of Santa Monica and the beach cities will take your breath away. And when the winds blow, you can see the San Gabriel mountains and Lake Arrowhead in the background. VERY PRIVATE: Point Dume, or 'the Point' as it is called by locals, is home to privacy seeking movie stars, entrepreneurs, and retired millionaires. The Point Dume Peninsula is travelled only by people who live there. There is no follow through traffic in the Point; you are not subject to the crush of public beach traffic and dangerous PCH drivers. It is a place where people are safe from those dangers. PRIVATE BEACH ACCESS: Own the coveted private beach key with access to Riviera II beach, one of the most sought after and private surf beaches in Southern California. A locked security gate at the entrance for residents only. Paparazzi are not allowed here! REDEVELOPMENT: There is approximately 1 acre flat where the house used to be and .28 gently sloping where the horse corral and barn used to be but can be graded flat for a different purpose if desired. The home on this prestigious lot was destroyed by the Woolsey Fire. The 1989 foundations of the original structure are still standing. The Post fire core tests passed the City of Los Angeles strict fire code mandates. So, the foundation may be usable and was left standing. All coring reports are available. The former home was approximately 5,000 sq ft. Owner has the original permitted plans available to rebuild. The property is in the FAST-TRACK FIRE-REBUILD status for the expedited permitting process to build a Like-for-Like new structure and maintain the 35 foot height of the original home. The Feasibility Study has been completed. Alternatively, the results determine that, if the new owner wants more than the 5,000-sq ft original structure footprint, they will likely be able to build up to approximately 8,000 sq ft of structure, pool, cabana and detached Additional Dwelling Unit guest house overlooking the ocean view. See artist renderings included. This property is contiguous to the hotel at the northeast corner currently being renovated. The City of Malibu MAY allow other usages in this lower part of the subject property. The owner may entertain a land lease of some of the contiguous areas for his use. The discovery of all material facts relating to the land and development potential are the sole responsibility of the Buyer to completely investigate, and not the Seller or Broker who makes no representations or warranties, written or verbal, expressed or implied, and should not be taken on faith.
Property Type(s): Lot/Land/Acreage
Last Updated 4/1/2022 Tract Other
Community Malibu County Los Angeles

Price History

Prior to Feb 7, '22 $4,950,000
Feb 7, '22 - Today $4,750,000

Additional Details

AREA Malibu
LOT 1.28 acre(s)
LOT DESCRIPTION Flag Lot, Horse Property, Secluded, Yard
UTILITIES Electric: Electricity - On Property
VIEW DESCRIPTION Bay,Catalina,City Lights,Coastline,Mountain(s),Ocean,Water
WATERFRONT DESCRIPTION Beach Access,Ocean Access,Ocean Side Of Highway



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Listing provided by : Robert Azzarello CalDRE: 00767223 | (818) 825-7333, Robert Azzarello, Broker

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