87 Lake Sherwood Dr, Thousand Oaks, California 91361, Thousand Oaks, 91361 - 5 bed, 7 bath
ACTIVE$1,999,999
87 Lake Sherwood Dr, Thousand Oaks, California 91361
5Beds
7Baths
6,282Sqft
24,182Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Great Schools: Elementary School: Westlake Elementary School (9/10).
Top Cons:
Requires Significant Construction Investment: The property is sold with plans and permits, meaning the buyer must undertake and finance the entire construction of a 6282 sqft luxury home, adding substantial cost beyond the list price.
Compared to the nearby listings
Price:$2.00M vs avg $1.84M (+$162,999)59%
Size:6,282 sqft vs avg 2,787.5 sqft98%
Price/sqft:$318 vs avg $6641%
More Insights
Condition: This listing is for land with Ready-To-Issue (RTI) plans and permits for a new contemporary home, not an existing structure. Therefore, the property is currently unbuilt and unlivable as a residence. Its value is based solely on the land and its potential for redevelopment, aligning with the 'tear-down' criteria for current habitability and value proposition, even though there is no existing structure to demolish. The images provided are renderings of the proposed future home, not photos of an existing property.
Year Built
Close
-
List price
$2M
Original List price
$2M
Price/Sqft
$318
HOA
-
Days on market
-
Sold On
-
MLS number
25501645
Home ConditionTear down
Features
Excellent View: Hills, Lake
Pool
Patio
ViewHills, Lake
About this home
RTI plans and permits for a contemporary lakefront home with amazing views and private boat dock on Lake Sherwood in Westlake Village. Developer or end user opportunity with lots of upside potential. 6282 square feet, 5 bedroom, 7 baths, theatre room, open concept floor plan opening to large patio with infinity pool with views of lake and surrounding mountains. Plans available for review for interested parties.
Nearby schools
9/10
Westlake Elementary School
Public,•K-5•1.4mi
6/10
Colina Middle School
Public,•6-8•3.2mi
8/10
Westlake High School
Public,•9-12•3.5mi
Condition Rating
Tear down
This listing is for land with Ready-To-Issue (RTI) plans and permits for a new contemporary home, not an existing structure. Therefore, the property is currently unbuilt and unlivable as a residence. Its value is based solely on the land and its potential for redevelopment, aligning with the 'tear-down' criteria for current habitability and value proposition, even though there is no existing structure to demolish. The images provided are renderings of the proposed future home, not photos of an existing property.
Pros & Cons
Pros
Great Schools: Elementary School: Westlake Elementary School (9/10).
Prime Lakefront Location: The property boasts a highly desirable lakefront position on Lake Sherwood, a prestigious and exclusive amenity.
Private Boat Dock: Includes plans and permits for a private boat dock, offering direct access to the lake and enhancing recreational opportunities.
Approved Plans & Permits (RTI): Ready-to-Issue (RTI) plans and permits for a contemporary 6282 sqft luxury home significantly reduce development time and risk for the buyer.
Luxurious Proposed Design: The approved plans detail a spacious 5-bedroom, 7-bath home with a theatre room, open concept floor plan, large patio, and infinity pool, catering to a high-end lifestyle.
Stunning Views & Upside Potential: Offers amazing views of the lake and surrounding mountains, coupled with significant upside potential for developers or end-users upon completion of the luxury residence.
Cons
Requires Significant Construction Investment: The property is sold with plans and permits, meaning the buyer must undertake and finance the entire construction of a 6282 sqft luxury home, adding substantial cost beyond the list price.
Time-Consuming Project: Building a custom luxury home of this scale is a lengthy process, involving managing contractors, materials, and potential delays, which may not suit buyers seeking immediate occupancy.
Niche Market Appeal: The offering is highly specific (land with approved plans for a custom build), which narrows the potential buyer pool to those with the financial capacity and desire to manage a large-scale construction project.