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$4,750,000
262 Days Online

28901 Selfridge Drive
Malibu, CA 90265

For Sale|Land|Active
Subdivision:
Other
County:
Los Angeles
Listed by Robert Azzarello of Robert Azzarello, Broker

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28901 Selfridge Drive28901 Selfridge Drive28901 Selfridge Drive28901 Selfridge Drive
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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.

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Listing Snapshot
Price 
$4,750,000
Days Online 
262 Days
Bedrooms 
N/A
Inside Area (SqFt) 
N/A
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
1.2776 Acres
Year Built 
N/A
MLS Number 
221004837
Status 
Active
Property Tax 
N/A
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
PublicRecords
Friends & Family
Recent Activity
a month agoListing updated with changes from the MLS
3 months agoPrice changed to $4,750,000
9 months agoListing first seen online
General Features
Parking Spaces 
0
Electric 
Electricity On Property
Acreage 
1.2776
Zoning 
LCRA1*
Listing Conditions 
Standard
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Exterior Features
View 
BayCatalinaCity LightsCoastlineMountainsOceanWater
Waterfront Features 
Beach AccessOcean AccessOcean Side Of Highway
Lot 
Flag LotHorse PropertySecludedYard
Community Features
Senior Community 
No
MLS Area 
C33 - Malibu
Crmls Logo Real Estate For Sale

This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. The display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Neighborhood & Commute
Source: Walkscore
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