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Diamond in the rough or an Albatross you be the judge...

By
Real Estate Agent with Berkshire Hathaway HomeServices California Properties 01238708

There are some homes that command a presence. Needless to say if you have ever been to Los Angles and drive North of Fairfax Blvd you cannot help but notice on top of the hill there is this interesting home on top of the hill overlooking the Los Angeles West Side. To be more specific this home has panoramic views of the entire Los Angeles area.

www.endrebarath.com

I moved to Los Angeles in 1998 and every time I have driven by it or near it I was fascinated by it. Over the years I have met contractors who worked on the house and shared with me that the owner built it and there was not one corner in the house. He also collected Faberge Eggs as gifts for his wife.

For years it was the Party House for the A-list actors, do not worry I will not name those who have been known to have frequented this homeJ))

www.endrebarath.com

The house changed hands a few times and I watched it with interest. Just to share with you 1997 it sold for $2.5 million than in 1999 for $3.8 million and everyone who was not very sophisticated with Real Estate Values thought it was an overpriced albatross, then in 2002 it sold again this time for $4.4 million.

Then to the bewilderment of many of the pundits it sold for $20,000,000.00. Well how did it happen? Needless to say the house included the surrounding land this time with it. So the reality is the house was worth probably around $5 million and the additional land around $15 million. There are virtually no other large parcels of land with this type of view under $30 million.

If you are looking for fantastic view lots in Los Angeles, please reach out to me. I will find it for you!

 

If you are considering buying or selling a home, a luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at 310.486.1002(m) or homes@endrebarath.com or visit one of my websites at  http://www.endrebarath.com.  I am a Pet Friendly Realtor and I contribute a portion of my commission to local animal rescue organizations

Comments (7)

Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

Endre Barath, Jr. That house looks like it is ready to cruise the stars as the next Enterprise. AH; the stories it could tell us! 

Apr 03, 2016 10:33 PM
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Endre - I remember that house, but from one of my later trips when I wasn't still living in LA. It certainly catches the eye. As for value, I'd trust you for that opinion.

Apr 04, 2016 09:16 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Sandy Padula and Norm Padula, JD, GRI  indeed the stories....I know of some of them:))Endre

Apr 04, 2016 09:19 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Dick Greenberg  there has been discussions of knocking it down and starting fresh since for almost 60 years it was "the house" now it is tired....Endre

Apr 04, 2016 09:20 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Endre

Interesting read - I've seen that house a number of times (only from a distance - I am no A-lister! LOL) and wondered about it. Views and land - the California deram

Jeff

Apr 04, 2016 02:20 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Jeff Dowler CRS  yes it is an eye catcher, I just hope the new one will be just as much of an eye catcher for the next 60 years:))Endre

Apr 04, 2016 02:43 PM
Robert Vegas Bob Swetz
Las Vegas, NV

Hello Endre ...

Beautiful looking home my friend and featured to the group:

All Real Estate - Today and Tomorrow

Apr 06, 2016 06:04 PM