
Altadena, California 91001
This property presents a High-Potential Investment Opportunity with a List Price of $850,000—positioned above the $710,556 Fair Market Value. While the current valuation reflects a premium, the 14,261 sqft lot and existing pool provide a rare foundation for a custom luxury estate. With a Condition Rating of 6, this site requires a full rebuild, making it a strategic land-value acquisition. The cul-de-sac location and mountain views offer significant long-term upside for Custom Home Developers or Owner-Occupants seeking to build a bespoke residence in Altadena.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 428 Parkman Subject | $850,000* List Price | 3 | 2 | 1,560 | $455 | - |
A 327 W Loma Alta Drive Sold | $993,000 | 3 | 2 | 2,045 | $486 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
The previous residence was lost in a fire, leaving only a vacant lot. The property is being sold for land value and redevelopment potential, as there are no functional structures or systems remaining.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 14261, living area = 1560.
Situated at the end of a quiet cul-de-sac in a desirable Altadena hillside neighborhood, the property offers exceptional privacy and an exclusive setting for a luxury custom estate.
The expansive 14,261 sqft lot features an existing pool and previous utility connections, providing a valuable head start for redevelopment and reducing the complexities of raw land construction.
As the previous residence was lost in a fire, the buyer must navigate complex Los Angeles County rebuilding guidelines, environmental conditions, and modern permit requirements.
With a list price of $850,000 for a lot, the total investment required for site preparation and new construction will be significant, potentially limiting the pool of qualified buyers.
Exceptional opportunity to build in one of Altadena’s most desirable hillside neighborhoods. Located at the end of a quiet cul-de-sac, 428 Parkman offers a rare opportunity to build a custom dream home amid scenic beauty, established residences, and a breathtaking neighborhood character. The previous residence was lost in the recent fire, leaving a spacious lot with an existing pool and endless redevelopment potential. This property captures the essence of peaceful foothill living with nearby mountain views, mature surroundings, and a setting that offers privacy and tranquility while remaining conveniently close to Pasadena, shopping, dining, parks, and commuter access. The cul-de-sac location enhances the sense of exclusivity and creates an ideal setting for a luxury estate, a modern retreat, a multigenerational living opportunity, or an investment project. Utilities previously serviced the property. Buyers are encouraged to independently verify rebuilding requirements, lot dimensions, zoning, utility status, permits, environmental conditions, fire rebuild guidelines, and all development possibilities with Los Angeles County and applicable agencies. Rare opportunities like this are becoming increasingly limited in Altadena. Bring your vision and imagination to restore and reimagine this special property. Minutes from hiking trails, recreation, and the charm of nearby Pasadena districts, this property offers a unique blend of nature, community, and future value in a highly sought-after Altadena location.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,560 | 2,007 |
| Lot Size | 14,261 | 9,310 |
| Price | $850.0K | $1.36M |
| Price per sq ft | $545 | $755 |
| Built year | 1956 | 1951 |
| HOA | $0 | $0 |
| Days on market | 45 | 54 |
Jun 7, 2026
$850,000
Initial Listing