1588 Chastain Pkwy W Pacific Palisades, CA 90272
Estimated payment $6,432/month
About This Lot
Best value in the Highlands. Incredible opportunity to build your dream home on a prime corner lot in the highly desirable Highlands neighborhood of Pacific Palisades. Priced at just $161 per foot, this property offers exceptional value in a premier Westside location. Located within the Summit community which was largely untouched, residents enjoy access to exclusive amenities at the Summit Club, including tennis and pickleball courts, a fitness center, large heated swimming pool, spa, playground, basketball court, and a dedicated dog park. This serene neighborhood also benefits from a 24-hour security patrol. The lot previously housed a 3,622-square-foot residence, which may allow for an expedited rebuilding process of up to 3,984 sq ft. Both Phase 1 and Phase 2 debris removal have been completed, streamlining the path to redevelopment. Set on a quiet street, this lot is just minutes from Palisades Village, acclaimed public and private schools, beach access, and some of the area's best hiking trails. Whether you are envisioning a personal retreat or an investment, this property offers the perfect opportunity in one of LA's most desirable coastal communities.
Property Details
Property Type
- Land
Est. Annual Taxes
- $33,688
Lot Details
- 6,186 Sq Ft Lot
- Property is zoned LAR1
Property Views
- Ocean
- Peek-A-Boo
- Canyon
- Mountain
Utilities
- Sewer in Street
Listing and Financial Details
- Assessor Parcel Number 4431-042-012
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $33,688 | $1,123,632 | $1,123,632 | -- |
| 2024 | $33,688 | $2,754,000 | $2,203,200 | $550,800 |
| 2023 | $25,731 | $2,091,326 | $1,706,742 | $384,584 |
| 2022 | $24,532 | $2,050,321 | $1,673,277 | $377,044 |
| 2021 | $24,223 | $2,010,119 | $1,640,468 | $369,651 |
| 2020 | $24,470 | $1,989,509 | $1,623,648 | $365,861 |
| 2019 | $23,495 | $1,950,500 | $1,591,812 | $358,688 |
| 2018 | $23,391 | $1,912,255 | $1,560,600 | $351,655 |
| 2016 | $22,366 | $1,838,000 | $1,500,000 | $338,000 |
| 2015 | $26,418 | $2,184,734 | $1,747,789 | $436,945 |
| 2014 | $21,073 | $1,697,000 | $1,357,000 | $340,000 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/08/2025 07/08/25 | Price Changed | $999,000 | -16.8% | -- |
| 06/17/2025 06/17/25 | For Sale | $1,200,000 | -55.6% | -- |
| 03/14/2023 03/14/23 | Sold | $2,700,000 | +0.2% | $745 / Sq Ft |
| 01/31/2023 01/31/23 | Pending | -- | -- | -- |
| 01/22/2023 01/22/23 | For Sale | $2,695,000 | +46.6% | $744 / Sq Ft |
| 12/04/2015 12/04/15 | Sold | $1,838,000 | -3.0% | $507 / Sq Ft |
| 10/19/2015 10/19/15 | Pending | -- | -- | -- |
| 09/17/2015 09/17/15 | For Sale | $1,895,000 | -- | $523 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | $2,700,000 | Fidelity National Title | |
| Interfamily Deed Transfer | -- | None Available | |
| Grant Deed | $1,838,000 | California Title Company | |
| Grant Deed | $1,999,000 | California Title Company | |
| Interfamily Deed Transfer | -- | None Available | |
| Grant Deed | $1,925,000 | Gateway Title Company | |
| Grant Deed | $1,550,000 | Chicago Title Co | |
| Interfamily Deed Transfer | -- | Gateway Title Company | |
| Interfamily Deed Transfer | -- | Gateway Title Company | |
| Individual Deed | $1,160,000 | First American Title Co | |
| Interfamily Deed Transfer | -- | Southland Title Corporation | |
| Interfamily Deed Transfer | -- | Southland Title Corporation | |
| Interfamily Deed Transfer | -- | Southland Title Corporation | |
| Quit Claim Deed | -- | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $2,000,000 | New Conventional | |
| Previous Owner | $1,286,600 | Adjustable Rate Mortgage/ARM | |
| Previous Owner | $28,000 | Stand Alone Second | |
| Previous Owner | $175,000 | Stand Alone Second | |
| Previous Owner | $1,499,250 | Negative Amortization | |
| Previous Owner | $200,000 | Credit Line Revolving | |
| Previous Owner | $1,443,750 | Purchase Money Mortgage | |
| Previous Owner | $500,000 | Credit Line Revolving | |
| Previous Owner | $300,000 | Credit Line Revolving | |
| Previous Owner | $650,000 | Unknown | |
| Previous Owner | $250,000 | Credit Line Revolving | |
| Previous Owner | $700,000 | No Value Available | |
| Previous Owner | $765,000 | No Value Available | |
| Previous Owner | $263,000 | No Value Available |
Source: The MLS
MLS Number: 25553519
APN: 4431-042-012
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