SoldBroker Activity · Entry № 61

Another Ocean-View Burn Lot Changes Hands for Over $4 Million.

The 15,064-square-foot lot traded for $4.226M - $277/SF, reinforcing strong demand for ocean views.

PublishedJuly 2026
StatusSold · Closed June 2026
DatelineThe Tape · Pacific Palisades, Los Angeles
1373 Monument St hero photo
FIG. 01, 1373 Monument St, Pacific Palisades, CA 90272 (The Alphabet Streets). Listing photo via Douglas Elliman of California, Inc.
Four takeawaysFour things an operator sees at 1373 Monument St.
  1. The land cleared at $277/acre. Sale price was $4.226M on 15,064 square feet. 
  2. Ocean Views Still Command a Massive Premium.  Most standard Palisades rebuild lots are trading between $160–370 per land SF. Ocean-view properties consistently sit at the top of that range because these are in short supply.
  3. Views Are Becoming More Valuable.  Construction costs are relatively similar whether you're building on a view lot or an interior lot. That's why the smartest builders are securing the best ocean-view sites first—they're the hardest to replace and have the greatest upside at resale.
  4. The bid-ask gap was $274K on a $4.5M ask.Buyer landed at $4.226M, a 6.1% discount to list.   This tells me there is a lot of demand for these.
Deal Stats · 1373 Monument St
Sale Price
$4,226,000
closed June 2026
List Price
$4,500,000
initial ask
Bid-Ask Gap
$274K
6.1% below ask
Price / Land SF
$1,902/SF
on 2,222 SF bldg.
Price / Acre
$12.07M/acre
0.2776 acres · LAR1
Lot SF
15,064 SF
LAR1 zoning
Year Built
1952
RSO-subject · LARSO
Gross Bldg. SF
2,222 SF
0.15 FAR
ULA Status
Below Threshold
Measure ULA does not apply
MLS
#26849771
Douglas Elliman · CA

What an Operator Sees

Ocean-view lots are the first to get picked off, and this sale reinforces why. The cost to build is relatively similar whether you're on an interior street or overlooking the Pacific, but the finished home can be worth millions more with an unobstructed view. If I were assembling a portfolio of rebuild sites, I'd be chasing the best locations first because you can always build a better house, but you can never build a better view.

I'll continue tracking every land sale in the Palisades to see how pricing changes by neighborhood, lot size, and view premium as the rebuild moves forward.

I track every multifamily and major Pacific Palisades sale in Los Angeles so you don't have to. 

If you found this useful, share it. 

Send OMs: David@AtlasBrief.LA

Brokers
Buyer & Listing Broker
Sean McNulty
Douglas Elliman of California, Inc.
Written from the field

David Safai, operator, developer, GC.

Atlas Home Builders, Inc. is a Los Angeles owner-operator and general contractor. If you are a broker with a listing you want an honest read on, send the OM and the T-12 to David@AtlasBrief.La.

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