Executive Summary
The property is a 110,506 SF (2.54 acre) vacant parcel on the south side of Calabasas Road, the frontage road along the 101 Freeway, at the west end of the street. It has about 219 feet of frontage on Calabasas Road and runs about 450 feet south into the hillside. The front of the lot near the road is the most level ground; the rear rises roughly 50 to 60 feet. It borders the skilled nursing facility at 25100 Calabasas Road to the east and open hillside to the west and south.
Comparable hillside land without approved plans has traded from $0.88 to $3.83 per SF over the past three years; buildable estate pads with utilities sold for $7 to $8 per SF. The parcel's commercial zoning and paved road frontage support pricing at the top of the hillside range. We recommend a list price of $375,000 ($3.39 per SF, about $147,800 per acre), with an expected sale range of $275,000 to $350,000.
Subject Property
Recorded and Marketing History
| Date | Event | Price | $/SF |
|---|---|---|---|
| 05/28/2008 | Sale (full transfer tax) | $970,009 | $8.78 |
| 11/20/2015 | Listed on the MLS | $750,000 | $6.79 |
| 12/06/2018 | Listed on the MLS | $650,000 | $5.88 |
| 04/21/2025 | Trustee sale (foreclosure) | n/a | |
| 05/02/2025 | Listed at $750,000, reduced 05/16/2025 | $399,000 | $3.61 |
| 09/18/2025 | Contingent on the MLS | ||
| 12/23/2025 | Sale to current owner (full transfer tax) | $30,000 | $0.27 |
Sales and the trustee sale from LA County Assessor transfer records; listings from MLS history (MLS# 25533851). The 2025 listing went contingent at a $399,000 asking price after about four and a half months on the market. The $30,000 sale followed the foreclosure and was handled by one agent on both sides, so we do not treat it as evidence of market value.
Zoning and Site Considerations
CL, Commercial, Limited. Calabasas applies the CL zone to commercial land with access limits or sensitive environmental features that cannot support the full range of commercial uses. Its intended uses include limited retail and commercial services, restaurants, plant nurseries, and business and professional offices. It matches the General Plan's Business, Limited Intensity designation, which caps floor area at 0.20 FAR, or about 22,100 SF of building on this lot before setbacks, slope, oak and fire requirements. The 2025 MLS listing also cited day care, medical office, studio, church and nonprofit office uses, per the City's Planning Department.
What a buyer will study. Calabasas regulates oak trees closely, and much of the western half is under oak canopy, so the buildable area will likely center on the more open ground near the road and along the eastern edge. The prior listing noted that an engineered driveway is needed to reach the upper building area. The parcel is in a Very High Fire Hazard Severity Zone, and the Assessor shows no sewer connection. A Scenic Corridor overlay applies to the adjoining parcel along Calabasas Road and likely applies here as well, which adds design review.
Buyer Pathways
Four buyer groups can use this parcel. Each values it differently, and marketing to all four is what produces competition at the asking price.
- CL zoning allows professional and medical office, and the City has cited day care, studio and institutional uses.
- Up to 0.20 FAR (about 22,100 SF) on paper; a realistic building is smaller, placed on the level ground near the road.
- Freeway visibility and quick access to the Las Virgenes interchange.
- The skilled nursing facility next door sits on 5.7 acres with 173 parking spaces and shares the parcel's east line.
- The parcel could add parking, outdoor space or a future building, or simply protect the facility's west side.
- A neighbor often pays more than an outside buyer because the land is worth more joined to its own.
- Plant nurseries are an intended CL use, and they need little building and grading.
- Keeps much of the oak canopy in place, which simplifies City review.
- The former Sperling Nursery on Calabasas Road shows the area's history with this use.
- The prior listing described the land to the west as conservancy land, which would make this an in-holding at the edge of open space.
- Agencies buy on appraisal and grant timing, often per acre at well below private prices.
- A reliable floor buyer if private demand is thin.
Land Sales Comparables
Ten closed vacant land sales from January 2024 to October 2026 in the Calabasas, Agoura Hills and West Hills hillside areas. The first seven are hillside or constrained lots with no approved plans, the best match for the subject. The last three are buildable pads and mark the ceiling.
| # | Address | Acres | Sale Price | $/SF | $/Acre | Closed | Notes |
|---|---|---|---|---|---|---|---|
| S | 25200 Calabasas Rd (subject) | 2.54 | $375,000 | $3.39 | $147,820 | Proposed | CL commercial zoning, road frontage |
| 1 | 25066 Mulholland Hwy, Calabasas | 2.63 | $350,000 | $3.06 | $133,080 | Oct 2026 | Closest in size and date; no plans |
| 2 | 25858 Mulholland Hwy, Calabasas | 9.78 | $375,000 | $0.88 | $38,344 | Jul 2026 | Access by easement over neighbors |
| 3 | 0 Woolsey Canyon, West Hills | 4.55 | $310,000 | $1.56 | $68,132 | Mar 2026 | Hillside; utilities nearby |
| 4 | 24125 Woolsey Canyon Rd, West Hills | 3.50 | $340,000 | $2.23 | $97,143 | Nov 2025 | Hillside; utilities and house plans in place |
| 5 | 28343 Foothill Dr, Agoura Hills | 1.00 | $150,000 | $3.44 | $150,000 | Jul 2025 | Access by easement |
| 6 | Las Virgenes Rd at the 101, Calabasas | 0.36 | $60,000 | $3.83 | $166,662 | Mar 2024 | Commercial remnant about 1/2 mile east |
| 7 | 3 Woolsey Canyon Rd, West Hills | 2.49 | $100,000 | $0.92 | $40,161 | Jan 2024 | Terraced downslope; utilities offsite |
| Average, comps 1 to 7 | 3.47 | $240,714 | $2.27 | $99,075 | Median $2.23 per SF | ||
| 8 | 0 Abercrombie Ln, Calabasas (gated) | 9.36 | $1,200,000 | $2.94 | $128,205 | Dec 2024 | Two building areas; soils, geology and perc done; utilities to site |
| 9 | 597 and 599 Mountain Green Dr, Monte Nido | 2.68 | $835,000 | $7.15 | $311,567 | Jul 2025 | Large flat knoll, two lots sold together |
| 10 | 0 Malibu Meadows Dr, Calabasas | 2.91 | $1,000,000 | $7.89 | $343,642 | Jun 2025 | Mostly usable; prior plans included |
Prices, dates and lot sizes from MLS closed-sale records, October 2026; comp 9 also verified against LA County Assessor transfer records. $/SF is the sale price over lot area. All comparables except comp 6 are residential estate land; none had commercial zoning comparable to the subject's.
Land Listings Nearby
| Address | Acres | Asking | $/SF | Days | Notes |
|---|---|---|---|---|---|
| 8760 Azul Dr, West Hills | 2.20 | $199,000 | $2.08 | 163 | Hillside lot |
| 0 Stokes Canyon, Calabasas | 10.00 | $599,000 | $1.38 | 25 | Next to parkland; earlier listings at $250,000 and $799,999 |
| 24201 Mulholland Hwy, Calabasas | 13.24 | $989,000 | $1.71 | 650 | Graded pad, soils and perc done, City preliminary approval |
| 25201 Mureau Rd, Calabasas | 26.49 | $3,400,000 | $2.95 | 358 | Marketed as five estate lots, next to Hidden Hills |
| 24677 Dry Canyon Cold Creek Rd, Calabasas | 3.54 | $799,999 | $5.19 | 77 | Cul-de-sac hillside lot |
Asking prices and days on market as advertised on the MLS, October 29, 2026. Several hillside listings have been on the market for a year or more, which is why we recommend pricing to the closed sales rather than to asking prices.
Key Takeaways
Hillside land without plans trades at about $1 to $4 per SF. The seven constrained sales averaged $2.27 per SF, and the closest match in size and timing, 25066 Mulholland, closed in October 2026 at $3.06 per SF.
Commercial zoning sets this parcel apart. Nearly every comparable is zoned for one estate home. CL zoning lets office, medical, day care and nursery users bid, which supports the top of the hillside range.
The 2025 market test points to about $400,000. At a $399,000 asking price the parcel went contingent after about four and a half months. Earlier asks of $650,000 and $750,000 did not sell.
Buildable pads sell for twice as much. Flat, usable lots sold at $7 to $8 per SF. A buyer who confirms a building area, a driveway route and utility service closes some of that gap, which is the upside a marketing campaign sells.
The neighbor is the natural buyer. The care facility next door has the most to gain, and we would approach it directly before and during marketing.
Pricing Recommendation
Why $375,000. The seven hillside sales without plans averaged $2.27 per SF, or about $251,000 applied to this lot. The subject should trade above that average for three reasons: commercial zoning, which none of the estate lots have; paved frontage on Calabasas Road next to an operating facility; and a neighbor with a clear reason to buy. At $3.39 per SF the asking price sits just above 25066 Mulholland ($3.06) and just below the 2025 asking price that drew a contingent buyer ($3.61).
What moves the number. Confirming a building area, a driveway route, and water and sewer or septic service before marketing would let us present the parcel closer to a buildable pad and test a higher price. If the City limits uses more than the zoning suggests, or the tree survey shrinks the usable area, the value moves toward the hillside average and the conservation buyers.
The recommendation assumes the parcel is sold as is, with no approvals, and that title conveys clean after the 2025 foreclosure. Measure ULA does not apply; the parcel is in the City of Calabasas, not the City of Los Angeles.
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