Aerial images show the property was among several homes in the neighborhood destroyed by the fire
A vacant lot in Pacific Palisades, where a home once stood before being destroyed in the January wildfires, has found a buyer for just under $1 million, less than a month after the blaze, according to Realtor.com.
The 9,932-square-foot property was listed for $999,000 on Jan. 16, shortly after the Palisades fire tore through the coastal community, destroying hundreds of structures and displacing numerous residents.
Listing agent Richard Schulman of Schulman Team/KW Advisors told Realtor that the owner, who had purchased the home for $1.54 million in 2005, made the swift decision to sell rather than rebuild. “For her, it was an easy decision,” Schulman told the outlet. “She was clear she was not going to rebuild. She’s staying nearby.”
Aerial images show the property was among several homes in the neighborhood destroyed by the fire, which began on Jan. 7 and spread across parts of Santa Monica and Malibu. The Palisades fire was one of several blazes that scorched more than 57,000 acres in Los Angeles County, claiming 29 lives, according to Cal Fire.
The buyer, identified as a local investor, intends to rebuild, though the timeline for cleanup and construction remains uncertain. Schulman noted significant investor interest in the property. “We had probably 70 or 80 inquiries, mostly from out-of-area investors,” he told Realtor. “Despite what happened, this will be an amazing area again.”
