The subject property is approximately 23.4 of unentitled acres on the north side of the Ronald Reagan Freeway (118) exit on Yosemite. Property is adjacent to Chumash Park and the Santa Monica Conservatory, which offers the wonderful amenities of hiking, biking and horse riding trails. Single family homes in the Indian Hills Ridge and Montaire subdivisions adjacent to the property have sold recently from 800,000 to 1,100,000 dollars. The property is undeveloped except for a service road that runs on the northern border of the property starting at the terminus of Flanagan Road and extends until a large water storage tank at the northeast of the property. The parcel is irregularly shaped and undeveloped except for a utility access road on the north section of the property. This development opportunity for single family residential will have views of the mountains to the north and east and city lights views to the south and west.
This property is subject to the Douglas Specific Plan. Although the plan calls for minimum 1 acre residential estates, this property is limited to approximately five units due to the slope on the hillside. See page 10 on the specific plan.
This offering is being sold without entitlements and is unpriced.
