In L.A.’s jam-packed actual property market, an acre is large. 5 acres is a dream. However 100-plus acres is historic.
The Robert Taylor Ranch, an enormous equestrian property sprawled within the hills of Brentwood, is hitting the marketplace for $70 million.
At 112 acres, it’s the most important residential property to hit the market within the metropolis of L.A. since at the very least the Eighties, when the A number of Itemizing Service began monitoring dwelling gross sales. For reference, the property single-handedly makes up greater than 1% of Brentwood, which spans simply over 15 sq. miles.
There are a handful of bigger residential properties round L.A. — together with the Mountain, a prized 157-acre undeveloped parcel in Beverly Crest that after listed for $1 billion — however none with properties on them which have formally hit the market.
The ranch has roughly 20,000 sq. ft of residing area unfold throughout 4 constructions. There’s a 12,000-square-foot predominant home with seven bedrooms, a canine spa, artwork studio and therapeutic massage room, in addition to a guesthouse, barn and workshop.
“It’s a once-in-a-lifetime estate,” stated Rochelle Maize of Nourmand & Associates, who’s dealing with the itemizing.
The principle home spans 12,000 sq. ft with seven bedrooms, a canine spa and artwork studio.
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Designed in 1950 by architect Robert Byrd, the ranch was constructed for oil baron Waite Phillips and later owned by actors Robert Taylor and Barbara Stanwyck, who hosted events on the residence. In its Previous Hollywood heyday, it as soon as featured a secret on line casino accessed by hidden doorways; the on line casino has since been eliminated, however the hidden door and hallway, discovered by a rotating bookcase, stay.
Within the ’70s, the property was purchased and reworked by Ken Roberts, the live performance promoter who turned KROQ-FM right into a rock radio big. Roberts tried promoting the ranch a handful of instances over the subsequent few many years, asking $45 million for it in 1990, but it surely was finally seized by a hedge fund in 2010 after Roberts was unable to repay a $27.5-million mortgage from New Stream Capital.
The property was auctioned off two years later to Chicago actual property developer Fred Latsko for $12 million and most just lately traded fingers for $18.7 million in 2015.
Titanic estates have dotted L.A. over the past century, however most have been whittled down by builders subdividing the tons and promoting them as separate properties. With so many homeowners over time, Maize stated it’s a shock that it hasn’t been chopped into items.
“When it last listed, there were two other offers from people that wanted to subdivide the land,” Maize stated. “But my client wanted to keep it together and update the property while maintaining the original feel, and it’s one of the reasons why their offer won.”
Throughout the latest possession, a four-year rework introduced new finishes together with bronze home windows, reclaimed timbers, limestone flooring and hand-laid stucco each inside and outside.
The property options 14 flat, buildable acres, whereas the remainder of the hillside property is navigated by mountain climbing trails. It consists of eight Assessor’s Parcel Numbers, that means a purchaser may divide it into eight totally different properties. It could convey an finish to the ranch’s spectacular acreage, however provide loads of incentive for a developer trying so as to add housing.
“The potential will be attractive to some,” Maize stated. “But either way, the buyer will be someone that values privacy. The setting here is second to none.”
