Who will buy the most valuable land in America?
ฝัง
- เผยแพร่เมื่อ 7 ก.ย. 2024
- Thanks for watching, and thank you to the listing agent Scott Tamkin for joining today's episode!
Link to Property Site:
-www.senderosca...
A 260 acre parcel of land is for sale in Bel Air California, and this listing is truly one-of-a-kind. We're talking about land that amounts to 3x the size of Disneyland, which has hit the auction block with a minimum bid of only $39,000,000. The property was for sale years ago as high as $125,000,000 but the sellers are ready to get this one sold, so they have chosen to list with Scott Tamkin from Compass and offer the land at auction. Today we check out this incredible listing, and we have a discussion with the listing agent himself.
I hope that you enjoy this video and if you have comments please leave them below! See you next video!
-Scott
#realestatenews #senderoscanyon
Disclaimer: This channel, and any communication shared during these videos, should not be taken as financial or legal advice. Viewers should retain their own legal counsel or financial expert(s) before making their own decisions. If you need legal advice, please contact an attorney directly. If you need financial advice, please contact a Certified Public Accountant or a Certified Financial Planner or other licensed professional. I (Scott Edward) am not a CPA, attorney, insurance, or financial advisor and the information in these videos shall not be construed as tax, legal, insurance, construction, engineering, health and safety, or financial advice. Opinions shared in these videos are my personal opinion and are for entertainment purposes only. And one more thing.. Links included in this description might be affiliate links. If you purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you! Thank you for supporting my channel.
![🎤 ไปกันต่อออ! จับฉลากร้องเพลง x P’ #XXSIVK [EP.2] (1/2) เพลงของใครจึ้งสุดน้าา 💓🎤 #MXFRUIT](http://i.ytimg.com/vi/mLI_K0sAS4o/mqdefault.jpg)
![POLYCAT - ข้อความรูปยิ้ม [Music Video]](http://i.ytimg.com/vi/lBhIgPGCgbI/mqdefault.jpg)
They’re smart at listing it low. What will probably happen is, people will see the property, start to imagine what could be theirs, and they want it. Now, get 7 people who have their own dreams and you have a bidding war. Would be interesting to see their egos fly and the price go up.
It's not really that massive. Sure, there are 260 acres but there is nowhere near that much land that is usable. Most of the slopes on either side of that ravine are steep and if you widen it out into each side you risk destabilizing the land below those houses at the top of the hills - and doing so isn’t going to help prevent mudslides (you’ve got two steep hillsides draining into a pretty thin chasm.) so that’s pretty much a no-go.
Access to the area is also an issue. You can’t get down into it from Roscomare nor Linda Flora, nor Moraga. Access from the south is closed off because of private property (properties). Assuming you could find a suitable access point good luck getting the city to issue permits. And, don’t forget where this land sits. Everyone of those homeowners around (above) you belongs to the most litigious group of people on the planet. You’d be tied up in the courts for years and years and years.
As Mr. Tamkin points out, realistically the maximum number of houses you could build would be 17 and I think he’s being overly optimistic. The golf course picture looked cool but even that’s not realistic.
It’s really mostly unusable land. $36,0000,000 is about 36,000,000 too much.
You would have to also buy a couple of the houses to the south of this site in order to do right of way improvements and the like. I would also try to be as unflashy as possible for the Los Angeles market, which is not hard to do. Take some inspiration from the canyon just to the east. Build the same density of houses as they have on Roscomare, if not more, for 1-2 million a pop, sell them for 3-4 million a pop and double your money. Basically connect the two ends of Moraga Drive and call it a day. Moraga is the right play here. Make them an offer they can't refuse. Give the surrounding residents a 50% cut from the sale and they will shut up.
It is a shame that in such a supply constricted area that they would only allow 17 homes, that would def become mega mansions.
you cannot build at the bottom of the canyon, it must get flooded on heavy rain season
Plot twist😂
I would imagine you would want to do a "feasibility" study on this property before buying it, how many good lots could it be divided into, development cost and carry cost units the lots sell. Maybe a two to three year project just on planning before you can break ground. Wild to think about something like this and the amount of money, work and time it will take to get it done.
I believe those studies were completed and accessible for potential buyers.
Its for sure going to be a big undertaking for whoever buys. A billionaire might look at it as just a good place to park cash for a while.
Hopefully it can remain nature and become public trails bought by the city or preservation orgs.
But it’s a canyon. You have to spend much then to level it. If you want to build things. Plus since it’s literally a valley then rains will fill this up fast. Since it’s at a lower elevation than what is surrounding it. I don’t know…….
They are using the name Bel Air but the actual facts about the land and how it looks is worrisome.
Especially with earthquakes and landslides. It’s dangerous to build out there.
If I was super rich, I'd buy the land and just build one home in the middle to live in. You can't put a price on having that much privacy and space from neighbors while still living in a city of 20 million people.
Everyone is above you looking down.
An Ardie Tavangarian designed home/homes would be killer, but I like the wellness retreat idea too
That would be great… I love his work
Great Spot to build Low income housing, half way houses and treatment center's.
Given where this property is located, it would have sold in a hot minute if it was a desirable property for development. In any case. not every inch of land needs to be developed. Just leave it be for wildlife to enjoy.
For what it is, the price actually seems pretty reasonable.
I thought so too!
That fish and game management is why it hasn’t sold before
Nile Niami could buy it and build "The Other One" 😅
Lol
This is a nightmare of red tape from fish and game, neighbors, city council, state govt regulations, cost to build the foundations that support mansions in a ravine will be astronomical. I personally would want nothing to do with this property if I could even afford it.
Can you build sky scrapers on that thing? Imagine a road full of 30-floor skyscrapers complete with shopping, offices, hotels, amenities, and apartments. Seems like the most efficient way.
Buy land, hire Nile Niami to build those 17 homes. Sit back and enjoy. BTW that would be my guess on what happens. That price is pretty low if you divide by 17 homes, if you can give each home a few acres you should have a nice spread out place.
Lol… that would make for an interesting story. I agree though it’s a very reasonable price. I imagine it sells before auction. Even in this market.
@@Real.Estate.Report Say what you will about Nile, the guy did make some amazing houses. I think he just lost control and focus on the The One. Don't believe your own hype as the saying goes.
I doubt you will ever get approvals to build on this land but if you do it will take at least 12 years
In a canyon.. no
Hey Scott, big fan of your channel! Would love to see your setup and how you produce your videos !
Thanks! Interesting timing. I've been thinking about doing another channel dedicated to the video production side of things. I'm self-taught but have become really passionate about the process of producing videos. Stay tuned... if I go forward with it I'll be sure to announce it here!
I think I will build 17 mansions and a nice park in that land.
Golf course is best use.. with another Dorchester Collection property 🥳🥳
near my aunts house. sounds like its prime for development.
If it has a stream on it the coastal commission won't let you build on it.
I wonder if it falls in the Coastal Commision boundaries. If it does development will be impossible.
260 acres WITHIN CITY LIMITS. No thank you.
A 'Glamp' Ground would be a lot more fun that another golf course and wouldn't ruin the nature view for the hillsides. 50 sites at $200 a night make $10,000 a day with very little money put in. If is doesn't work then LA could buy it for a park with the nature trails already in.
Thanks for yet another interesting video Scott! 👍👍
No problem glad you enjoyed!
Damn what lucky ducker inherited that. Wow.
if i bought that property i would create a vineyard and open up a trail for the public for a small fee every weekend
I could see that being popular… as a mountain biker I’d pay to ride around there if the trails were good enough
@@Real.Estate.Report I would only charge 5 dollars
@@BeyondBorders_12 Totally. Not bad for somebody who comes 1-2x per week. And probably a way to bring in tens of thousands per month in income if you do it right (that is, if you could even get it approved)
I will
What did currently owning 6% of Bel Air do for the current owners' legacy?
Why would anyone want to buy property in California to develop?
Me watching this saying "mhm nice, nice stuff" with the $32.85 in my bank account
How about ranch?
Fill it with water.
What do you think the buyer will end up doing with this land?
They’ll build the world’s biggest skate park.
@@nawwk79 haha!
no chance that ever gets developed any smart developer will not touch it that would take decades to get approvals and the entire neighborhood will fight it
ps: I was a “master” developer in socal for 7 years
@@undefined69695 I do believe that it will probably be challenging to get approval to build a bunch of houses. But I’d imagine the vineyard, wellness center, or equestrian concepts are more realistic.
@@Real.Estate.Report I would imagine houses would actually be smart if they weren't too flashy about it. $40 million gets you the deed, you build the houses, maybe 50-60 of them, equal density to the surrounding builds for $1-2 million a pop, sell them for double that, pay down your loans, and then split the bills with the neighbors 50-50 net to them.
cheers Scott for the show..as always very interesting
Thanks Stewart, cheers
Build 20 apartment complexes lol really piss those neighbors off
I found a cool site. Bosworth Properties Marrakech selling Riads. I'm surprised something like these doesn't sell more here in the SouthWest. I like the enclosed courtyard for privacy and protection. I would think it would help maintain the temp. I know the little adobe I'm in stays pretty even all year.
The listing agent Scott definitely knows his stuff. He just has a calm and laid back demeanor.
I looked up that Bosworth company, cool homes!
@@Real.Estate.Report 😊
@@Real.Estate.Report Have you heard of the Winchester House? As in, insane heir to the rifle company. Now that is one crazy story.
@@redmoondesignbeth9119 I hadn’t heard of it but looks like a good story! Will do some more digging…
@@redmoondesignbeth9119 I just watched a video about the Winchester House a week ago. Apparently the craziness/insanity are a myth, deliberately created for publicity purposes. TH-cam channel called "This House" th-cam.com/video/2VZOrTLRW58/w-d-xo.html
tiny homes on the slopes for the city for the homeless
That canyon should be called “Wildfire Ridge”…….no thanks!
Great video
Thanks Allan!
How this land survived the crypto highs, the low interest rate without a buyer....
Good point...
He who buys is the king of Bel Air
hello we are from the #wbjadventures and we are subscribing to help your channel, keep up the good work ✌👌
Flash floods
Noah built what? What was his fear.
DO CREATOR CLASH 2
👌😎👏
✌️
There's a reason it hasn't been developed
The kardashians should buy it
Do y’all really think Bill Gates is not going to but this? 🥸