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Los Angeles

“Blank canvas”: Vacant Beverly Park property hits market at $31M

Listing comes months after another lot in choice neighborhood sold for $28M

A photo illustration of 45 Beverly Park Circle in Beverly Hills (Getty, Google Maps)

A photo illustration of 45 Beverly Park Circle in Beverly Hills (Getty, Google Maps)

Want to build a home in the Beverly Hills Post Office enclave? Count on $30 million to get started. 

In North Beverly Park, one of L.A.’s most exclusive neighborhoods, a 2.3-acre parcel of vacant land hit the market earlier this week. The listing price is $31 million, or approximately $13.5 million per acre. 

“A blank canvas,” the listing states, “that is a once-in-a-lifetime opportunity to live in what many consider to be the most exclusive guard-gated community in the country.” 

Many do, in fact, consider Beverly Park to be the crème de la crème of residential real estate. Residents include both A-list celebrities and the global rich: Within the last couple years Adele has moved in, Mark Wahlberg has moved out, and divorcing Saudi royals have bickered over home repairs. Other famous neighbors have included Denzel Washington, Dwayne “The Rock” Johnson and billionaire Alec Gores. 

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Last September, another vacant lot in the neighborhood, across the street from the new listing, traded weeks after it was listed for $28 million, or roughly $10 million per acre. That property’s listing, which was also held by Todd Stein of Campbell Wellman Properties, also promoted it with the same “blank canvas” tag line. 

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A few months ago one mansion in the neighborhood that previously asked $120 million traded for $52 million; in February Wahlberg came away with $55 million for his 12-bedroom pad, after previously listing it for $88 million.  

The new property listed is located at 45 Beverly Park Circle, and is flat with sweeping views, according to the listing. The site is owned by an Alhambra-based entity called Renaissance Development, according to property records. The new offering marks the first time the property has hit the market in more than 30 years, according to the listing.