The site previously held a 6,001-square-foot residence built in 2018, which included a basement, possibly streamlining the permitting process for new construction
A vacant lot in one of Pacific Palisades’ sought-after Alphabet Streets is on the market for $1,995,000 following two recent price reductions. The 6,501-square-foot parcel at 1027 Kagawa St is being listed at roughly $306 per square foot, down from an initial asking price of $2.5 million in March.
The listing, marketed by Anthony Marguleas of Amalfi Estates, advertises the lot as a rare opportunity to build a new home in the affluent coastal neighborhood. The site previously held a 6,001-square-foot residence built in 2018, which included a basement, possibly streamlining the permitting process for new construction. Listing materials suggest that building plans may be included with the sale.
According to the agent, Phase 2 debris removal has already been completed at the site, which sits a short distance from Palisades Village and within proximity to local beaches, hiking trails, and high-ranking public schools.
The property, listed under MLS #25510003, has been on the market for 116 days. Its latest price adjustment—down from $2.3 million in April—comes amid fluctuating interest in Los Angeles’s high-end land market.
No structure currently exists on the lot, and the listing does not include any building permits, pending approvals, or architectural renderings. The site has no current ocean view and is classified as “land” under the Multiple Listing Service.
The area, known for its high property values and limited development space, continues to attract buyers seeking teardown and custom home construction opportunities. For more information, go to https://www.redfin.com/CA/Pacific-Palisades/1027-Kagawa-St-90272/home/6846189.
