A 1.73-acre parcel in the desirable Beverlywood/West Pico corridor of Los Angeles just sold for about $24 million, or roughly $13.9 million per acre. CoStar The buyer is a multifamily developer, and the site—formerly an office building—is cleared and positioned for a high-end residential project of 200 + units. The transaction underscores the premium for infill land in tight supply on the west side of L.A., especially near employment hubs like Century City and Beverly Hills. CoStar
For landowners or investors in L.A. County this deal matters because it signals that well-located “dirt” parcels in prime zones continue to command top dollar—even amid rising development costs and regulatory headwinds (such as tighter entitlement processes and higher construction expenses). CoStar If you own or are scouting land, it’s a reminder to factor in location scarcity and repositioning potential (e.g., from older use to multifamily) when assessing value and exit strategy.
Read the original article →https://www.costar.com/article/234633626/vacant-los-angeles-lot-sells-in-one-of-areas-priciest-land-deals?utm_source
