When developer Michael Chen and his investor partner stumbled upon 1108 Wallace Ridge in the exclusive Trousdale Estates area of Beverly Hills, they saw potential where others saw a tear-down. The half-acre lot and outdated 6,300-square-foot mansion were on the market for $18 million, but the pair saw the opportunity to rebuild on a prime piece of real estate they believed would see a dramatic increase in value.
"The main decision-making to buy this lot was that it was a front-row view property with one of the only daylight basements in Trousdale,” said Chen. The property's location on an elevated ridge overlooking Century City, combined with the opportunity to build a sun-drenched basement below ground level, made it a valuable investment despite its need for a complete overhaul.
Chen and his partner purchased the property for $15 million and set to work on a redesign that would maximize the new home's views, square footage, and curb appeal. The result is a stunning 18,000-square-foot megahome with floor-to-ceiling windows, a "front-row view" of Century City, and an entertainment and pool area located in the residence's sun-drenched lower-level.
Despite the strict height restriction of 14 feet in this part of Beverly Hills, the developer was able to make the most of the property's unique features, such as the daylight basement, to add valuable square footage and millions of dollars in value to the new residence.
The ultra-luxe modern design is a symphony of glass, stone and vertical louvers with seven bedrooms and 14 baths, making it the perfect vacation property for Chen and his investor to enjoy for a few years before selling at the right time.
As a photographer, I was introduced to Michael Chen through a former client as he was friends with Michael and thought I'd be a perfect match for michael to photograph his property. I spent several days at the property, capturing its many features and details. From the stone walkway that extends across a water feature and leads to the home's entryway, to the owner's suite with an outdoor terrace and hot tub, I was able to showcase the property in all its glory.
However, with luxury home sales in Los Angeles averaging $2,078 per square foot during the second quarter of this year, the developers saw an opportunity to sell the completed home for $65 million. Represented by real estate brokers Aaron Kirman of Compass and Adam Rosenfeld at the Agency RE, the property hit the market in the middle of a global pandemic and quickly generated interest from potential buyers.
The story of 1108 Wallace Ridge is a testament to the power of a visionary developer's ability to see potential in a property where others see only a tear-down. With its stunning views, luxurious design, and prime location in one of the most sought-after areas of Beverly Hills, this $65 million megahome is the ultimate example of how a little imagination can turn a property into a true masterpiece.