0.52-acre property in Upper Riviera offers development potential with canyon and Pacific views
A bank-owned ocean-view lot in the Upper Riviera section of Pacific Palisades has been listed for sale at $4.175 million.
The 0.52-acre property at 1545 Umeo Rd. sits on a 22,689-square-foot parcel above the canyon, offering sweeping views of the canyon and the Pacific Ocean. The site is being marketed as a significant development opportunity in a neighborhood known for multimillion-dollar estates.
Previous plans called for a roughly 4,070-square-foot residence with multiple view decks. The lot’s size and configuration could support a substantially larger custom estate, subject to city approvals.
The property is being sold as a fixer/foreclosure opportunity. The seller is open to carrying financing at interest-only terms for up to five years.
It is listed by Anthony Marguleas of Amalfi Estates. For more information go to https://www.zillow.com/homedetails/1545-Umeo-Rd-Pacific-Palisades-CA-90272/20546220_zpid/
