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Spectacular 6.2 acre single family home site in Los Angeles

1445 CANYON RD, LOS ANGELES, Los Angeles, CA 90028

$60,000,000 After Repair Value -
$56,000,000 Asking Price -
$0 Cost of Repairs =
$4,000,000 Potential Profit

Property Details

Asking Price $56,000,000

After Repair Value $60,000,000

Costs of Repairs $0

Potential Profit $4,000,000

Living Area 22585 ft2

Property Type Single Family House

Bedrooms 0

Bathrooms 0

Half Bathrooms N/A

Parking +6

Listed with Agent 1

Property Description

The borrower/developer filed Chapter 7 Bankruptcy inNovember 2016. Construction at the project is nowhalted and approximately 25% complete. The projectwill end up in Earlston’s control in mid Dec 2017. Theplanned home is a 22,585 square foot above gradeMediterranean/Spanish style home located justnorth of the prestigious Bel Air Hotel. The home willhave 18 rooms including 8 bedrooms and 9.5 bathsand an additional 2,400 square foot carport/garagebuilt with access to the basement. Currently,Lender has advanced approximately US$15.8million. We conservatively estimate that a well-constructed finished home on the property wouldsell in excess of US$1,750 per square foot, (US$39.5million) and the cost to complete from its currentstate is estimated at approximately US$10.0 million.

CONTACT LISTING OWNER

JOHN NGUYEN

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