Three connected parcels just off Los Angeles’s Sunset Strip are set to make a developer’s dreams come true after having listed Monday for a combined $30 million .
Though all properties are listed separately, the listing agents—Michael Nourmand and Adam Sires of Nourmand and Associates—note that the seller would prefer to sell as a package.
The seller, a local businessman who bought the properties under LLCs, bought the largest property first and the rest “over the course of close to three years,” Mr. Nourmand said.
The most expensive of the three St. Ives Drive parcels is listed for $16.5 million and is a 3,381-square-foot, three-bedroom property. It was acquired in 2014 for $12.55 million, from the estate of the late Peter Nydrle, an award-winning music video director and producer, property records show.
A three-bedroom asking $6.25 million alone was bought in 2015 for $4 million, property records show, from talent manager Scooter Braun. Previously it had been owned by Nydrle, too.
The last of the three parcels is asking $7.25 million. The four-bedroom house, bought in May 2017 for $7 million, according to property records, was the seller’s most recent purchase.
Combined, the trio spans around one-and-a-half acres.
A fourth property, though not formally on the market, is also available. The seller—who had originally planned to develop the parcels himself, Mr. Nourmand said—had intended for it to be the home’s driveway. But it “made more sense to sell to a builder or developer.”
“It’s rare that [a parcel is] that big and that that much of it is flat land that low down,” Mr. Nourmand said. For many of the other properties in the area, “you have to wind and get car sick to get to those views.”
A resulting spec house could command a large sum, he said, estimating that it could sell in the $60 million-range
The area is a hotbed of developer activity. Nile Niami—the developer responsible for Opus, the gilded mansion that was, until recently, asking $100 million—recently renovated a home close by that is now listed for $17.95 million.
The Real Deal first reported the listings.
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