The Last Vacant Lot on Westlake Island, Westlake Village, CA
When 2428 Oakshore Drive was sold in 2016 for $2,150,000, it was marketed as the last available vacant lot on the Island. Well, that’s not quite true and the owners (The Hogan’s) knew it because they also previously owned the last vacant lot. There is one more vacant lot still on the Island that has never had a home on it. Since it does not have a home on it, it does not even have an address, so let’s call it 3944 Fairbreeze Circle.
Fairbreeze Circle was the original location for the Westlake Island Model Homes as seen in the picture below obtained from the Westlake Village Archives. The 3944 Fairbreeze lot would be on the Point between the Buccaneer and the Martinique Model Homes.
The Points for Westlake Island were originally planned for 4 homes as seen in the Plat Map recorded with the County below. The Martinique Model was sitting on one of the four lots (one of the middle lots).
You can see the completed Models in this picture from the Westlake Archives. You can also see there was not a model home at 3944 Fairbreeze Circle.
Here are some pictures from the Current Time period as well as from Google Maps. You can see there are some trees, landscaping and a Gazebo.
So what’s the History of the Last Remaining Vacant Lot on the Island? According to public records on 7/1/1991 a James Grant White and Leslye Aranda White sold the vacant lot to Ronald M Krueger for $252,500. County Records then show a transfer of the lot on 12/27/1991 from Ronald M Krueger to The Hogan Family Trust which is Ed and Marilyn Hogan of the Pleasant Hawaiian Holidays Company. Records indicate the Hogan’s lived next-door at 3946 Fairbreeze Circle. It appears from the County Records the Hogan’s bought Martinique Model Home in 1977. They must have also bought the lot next to the Martinique Model as these two lots are now known as 3946 Fairbreeze Circle and the Home Has Been Expanded over both lots.
Public records indicate the Hogan’s sold 3946 Fairbreeze Circle and the vacant lot 3944 Fairbreeze Circle to the Catlan Family in 2004. According to public records, 3944 Fairbreeze Circle, the vacant lot, was sold for $1,200,000. I was unable to determine what the 3946 Fairbreeze Circle home sold for from the public records. The information I could find was that is was listed in 2003 for $3,500,000 and the last MLS Listing Price was $2,295,000.
What is the Value of the Last Vacant Lot on the Island today? I would say based on recent sales, 3944 Fairbreeze Circle with being a corner lot on the Point with 9180 square Feet – approximately $3,000,000.
You can stay current on all available homes for sale on Westlake Island by visiting my website https://westlakevillageisland.com/ It is continuously updated and secure.
Todd Riley | Keller Williams Realty | 818.538.6331 | dre#01165252 | https://westlakevillageisland.com/ | When Feeling Nautical is Not Enough….