28926 Boniface Drive, Malibu, California 90265, Malibu, 90265 - 5 bed, 5 bath
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Malibu, California 90265
This Point Dume Development Asset is a Prime Investment Opportunity with a List Price of $6,250,000—positioned well below the $6,394,503 Fair Market Value by 2%. This valuation gap offers $144,503 in Instant Equity. With a Condition Rating of 6, the property serves as a foundation for a world-class estate on 1.68 acres featuring a Riviera beach key, canyon vistas, and a spacious deck. Included Lester Tobias architectural plans accelerate the build of a legacy compound. This is a high-upside acquisition for Luxury Developers or Owner-Builders.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 28926 Boniface Drive Subject | $6,250,000* List Price | 5 | 5 | 1,942 | $3,293 | - |
A 29029 Cliffside Drive Active | $6,700,000 List Price | 4 | 3 | 2,282 | $2,936 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
The property is explicitly marketed as a land-value development opportunity rather than a move-in ready home. Built in 1955, the existing 1,942 sq. ft. residence is described as a 'foundation for a complete reimagining,' and the listing includes architectural plans for a new 8,300 sq. ft. compound. The lack of interior images and the focus on the 1.68-acre lot and beach key indicate the current structure is at the end of its functional lifespan and requires demolition or a total gut-renovation to reach its highest and best use.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 73288, living area = 1942.
The property includes a coveted Riviera beach key, providing private access to Malibu's most pristine coastline, a rare and highly sought-after amenity that significantly drives value.
With 1.68 acres and included architectural plans by Lester Tobias for up to an 8,300 sq. ft. compound, this listing offers a rare 'head start' for buyers looking to build a world-class legacy estate.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 5, other record bedroom count = 3.
The existing 1955 residence is modest relative to the land value, meaning the property is essentially a land-value play requiring a massive capital investment to reach its highest and best use.
While architectural pathways are provided, executing a large-scale build in Malibu involves high construction costs and navigating rigorous local building and coastal regulations.
Boasting a coveted Riviera beach key, this expansive 1.68-acre Point Dume estate offers a rare opportunity to create a private sanctuary surrounded by canyon vistas and lush, mature trees. The park-like acreage provides a tranquil, nature-rich environment - an ideal backdrop for a thoughtfully designed retreat. The existing residence offers a versatile foundation for a custom remodel or a complete reimagining. For a seamless transition to a grander scale, the property includes two architectural pathways by renowned architect Lester Tobias: a sprawling 8,300 sq. ft. compound across three structures, or a sophisticated 6,300 sq. ft. single-residence design. With significant groundwork already in place, buyers can accelerate the development process while tailoring the final vision. Graced with mature fruit trees and a gated circular driveway, the grounds offer a rare sense of self-sustained living just moments from Malibu's most picturesque coastline. This is one of only 54 parcels on Point Dume offering both a beach key and over 1.5 acres, representing a unique chance to craft a legacy property in Malibu's most desirable enclave.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 4.0 | 73% |
| Baths | 5.0 | 4.0 | 69% |
| Square foot | 1,942 | 2,748 | 27% |
| Lot Size | 73,288 | 18,758.5 | 81% |
| Price | $6.25M | $3.77M | 72% |
| Price per sq ft | $3.2K | $1.3K | 92% |
| Built year | 1955 | 1979 | 14% |
| HOA | $0 | $0 | 50% |
| Days on market | 21 | 226 | 2% |
Apr 1, 2026
$6,250,000
Initial Listing
Oct 6, 2022
$8,095,000
Public Record
Jun 26, 2018
$4,600,000
Public Record
Mar 29, 2013
$2,910,000
Public Record
Aug 14, 1996
$675,000
Public Record