In the arid climate of Los Angeles, finding a lake can be quite the job. Finding a house with a lake could be even more taxing. On June 28, one lucky home buyer may be able to pin down the perfect home at quite a bargain as the Amber Hill compound in Brentwood goes to auction at a reserve price of $14.5 million.
Originally priced at $40 million, the estate gives the right bidder a very rare opportunity to own not only a lake in Los Angeles County, but an exquisite expanse of land. The 48-acre property features horse corrals, riding trails, lush landscaping, bridges, terraces and stunning views of the Santa Monica Mountains and the ocean.
The property is gated, with a quarter-mile, tree-lined driveway that leads to a 12,000-square-foot main house. The interiors of the house are almost as grand as the grounds. A two-story great room features a flagstone fireplace and wine bar. The kitchen is classically decadent with copper appliances and leaded-glass cabinetry.
The property features multiple structures dotting the landscape, including guest houses, a tennis court with pavilion, a caretaker’s cottage and a workshop/maintenance building. In total, the property boasts 13 bedrooms, seven full bathrooms and five half-baths.
Being an opulent Los Angeles-area home, this property certainly has had its place in Hollywood history. The exterior of the main house was used as a scene setter for the TV series “Hart to Hart” (1979-84). Film stars such as Dick Powell and June Allyson have resided on the property in the past.
Brentwood Real Estate Market Update
While this property heads to auction, the rest of Brentwood continues to chug along as a hot market for home sellers and a desirable area for home buyers to get into.
Altos Research, a California-real estate analytics company, reports that as of May 30, the median single-family home value in Brentwood is $500,650. Prices have been on a very slow increase since just before the start of the year when they dipped to about the $478,000 mark.
Home buyers are vying to find properties in this exclusive market. Inventory is growing slowly as well and currently sits at approximately 124 properties listed on the market.
The Market Action Index is a value unique to Altos that indicates from a neutral mark of 30 if trends are moving high in favor of sellers or low in favor of buyers. At 58.36, the MAI in Brentwood is well above the neutral market and into seller’s territory. This will help keep prices moving higher as prime selling season continues.
Properties in Brentwood are continuing to move at a rapid rate. The average days on market is currently 60, meaning that Brentwood only has about a two-month supply of homes available. With desirability so strong for Brentwood homes, it is easy to understand that these properties are moving at light speed.
Are you looking for a home in Brentwood as exquisite as Amber Hills? If you are, please contact our team of luxury property agents. We would love to help you find the perfect property.
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