Premiere Estates is handling the auction of a high-end Bel Air property currently listed at $5.5 million and they have officially posted the information for prospective buyers on their website.
The property is located at 901 Strada Vecchia Road in Bel Air, Los Angeles, and the total size is 1.2 acres. Nestled at the end of one of Bel Air’s most coveted streets and covered by a tree line, this property provides its owner with the ultimate level of privacy, while still being adjacent to the Bel-Air Country Club. This world-class property also offers stunning views of the city and the canyons that surround it.
Bids for the property are due no later than 9/27 at 12 pm PST and this will be a no reserve auction, meaning the sale will go to the highest offer regardless of price with court confirmation. Prospective buyers interested in making a bid must provide proof of funds along with a $250,000 registration deposit.
This property will be auctioned and sold after several years of contention between the previous owner Mohamed Hadid. Hadid is a real estate developer known for building the grandest estates in California and for his world-famous supermodel daughters Bella and Gigi Hadid.
Mohamed built the property against the regulations and codes approved by the city and as a result, must now auction the property. Conversely, Hadid also has a $250 million mega-mansion in Los Angeles listed for sale, which would make it the most expensive home in America.
Because the 901 Strada Vecchia Road, Bel Air estate was built without the appropriate city permits, it will be demolished after the sale is consummated at no extra cost to the buyer and the new owner will have the opportunity to build their dream home on one of Bel Airs best parcels of land
The circumstances that brought such valuable property to the auction may have been highly unusual, but this rare real estate gem is sure to draw hordes of interested buyers who see the chance to either flip the property for a massive profit or finally build the house they’ve always wanted.