Property Description

📍 Off-Market Opportunity – Prime Pacific Palisades Lot
17845 Porto Marina Way – Castellemmare, Pacific Palisades, CA 90272

🚨 RARE COASTAL LOT | DEVELOPMENT PLAY | MASSIVE POTENTIAL

This is a rare chance to secure a flat, buildable view lot in the prestigious Castellemmare enclave—just moments from the ocean, beach access, and PCH, yet tucked away from the noise and traffic.

🔹 Zoned per Coastal Commission (ZIMAS)
🔹 Lot Size: 3,689 SF (per title)
🔹 Prior Home: 3 Bed / 2 Bath | ~1,336 SF + ~850 SF Unpermitted Lower Unit
🔹 Flat Lot – Potential for Pool
🔹 Ocean Proximity: Steps to pedestrian bridge & Castle Rock Beach

🧱 Development Highlights:
– Permitting Advantages: Fast-track rebuild option allows up to 10% added SF—approx. 1,450 SF without LADBS hurdles.
– Bonus Square Footage Potential: Approx. 850 SF rental unit built in 2004-2005 (unpermitted) could be added to title with effort.
– Appraised Land Value (2021): $1.9M

🔍 Comparables:
SOLD:
▪️ 17806 Porto Marina Way – $1.48M (less stable, on PCH, landslide-prone)

ACTIVE NEARBY:
▪️ 1415 SF home on Positano – $3.9M (on PCH, hillside lot, high traffic noise)

Rebuild Exit Potential:
▪️ $3.5M – $4M+ resale (for 1,450 SF modern rebuild)
▪️ $5M+ with bonus 850 SF permitted—if LADBS allows

💡 Why This Deal Makes Sense
– Flat, functional lot – highly desirable in this coastal pocket
– Quiet location, unlike nearby comps directly on PCH
– Walk-to-beach lifestyle – direct bridge access to Castle Rock Beach
– True end-user or builder upside in a fast-appreciating neighborhood
– Multiple recent land-only sales nearing $2M with less favorable characteristics