Burned lot in Pacific Palisades sells for nearly $1 million less than a month after listing

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Burned lot in Pacific Palisades sells for nearly $1 million less than a month after listing

The Brief

A vacant lot on which a home was destroyed due to the Palisades Fire has sold for nearly $1 million less than a month after hitting the market.

Aerial images showed the home was one of several destroyed in the January wildfire.

The owner of the home told Realtor she would not rebuild.

PACIFIC PALISADES, Calif. – The scorched lot where a home once stood before it was destroyed in the Palisades Fire has been sold for nearly $1 million less than a month after the deadly fire, according to Realtor.com.

The 9,932-square-foot property located on Avenida de la Herradura was

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for $999,000 on Jan. 16, nine days after the deadly Palisades Fire broke out southeast of Palisades Drive.

The owner of the home had purchased it in 2005 for $1.54 million, listing agent Richard Schulman of Schulman Team/KW Advisors told Realtor.

“For her, it was an easy decision,” Schulman told the outlet. “She was clear she was not going to rebuild. She’s staying nearby.”

Realtor identified the buyer as a local investor, with Schulman noting that there was “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.”

Aerial images show the property was among several homes in the neighborhood destroyed by the fire. On

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Maps, a search for the address shows a blurred image in place of the home.

The Palisades Fire

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as parts of Southern California were hit by powerful Santa Ana winds – the strongest to hit the area in over a decade, officials said. The piercing winds not only intensified the spread of the fire, it also prevented helicopters and planes from dumping water or fire retardant onto the burning scene as it was too dangerous to fly during the first day of the massive fire.

The fire extended well over 23,000 acres in seven days, destroying homes and businesses across the Pacific Palisades and Malibu. The fire also forced evacuations across parts of LA County, including Bel-Air, Brentwood and Santa Monica.

The fire destroyed 6,833 structures and damaged nearly 1,000 others.

The cause of the fire is under investigation, but officials have focused their attention on a popular hiking destination – Skull Rock – located north of Sunset Boulevard – “as a possible starting point for the Palisades Fire” – because another fire had burned there six days prior.

The Source

Information for this story is from Realtor.com, Cal Fire, and previous FOX 11 reports.

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