PHOTO: Two friends try to save Pacific Palisades home from fire. LA TIMES
Once a luxury enclave overlooking the Pacific, Pacific Palisades was left scorched and skeletal after one of the worst wildfires in Los Angeles history. But in a remarkable twist, buyers are now lining up to spend millions on the charred remains—betting big on the future of one of California’s most prestigious postcodes.
🔥 After the Fire: From Destruction to High Demand
When the Pacific Palisades Fire ignited on January 7, 2025, driven by fierce Santa Ana winds and prolonged drought, it tore through 23,000+ acres, destroyed over 6,800 homes, and left more than 100,000 people displaced. But instead of devastation stopping the market—it has created a new gold rush.
“At first, no one knew what a burned lot was worth,” said John McNicholas, a real estate agent representing both buyers and sellers in the aftermath. “We were navigating completely uncharted territory.”
💰 Burned, But Not Broken: Buyers Drop Up to $5 Million on Empty Land
Despite the destruction, demand has surged.
-
15103 Albright Street, a cleared lot, sold for $2.65 million—only slightly below its estimated pre-fire value of $3.5 million.
-
635 Ocampo Drive, in the Huntington neighborhood, sold for $4.25 million.
-
732 Chapala Drive, another fire-cleared plot, fetched $4 million.
Some developers aren’t waiting. Luxury builder JNY Investments is already marketing a not-yet-built 8,200-square-foot estate at 15515 Via De Las Olas for a staggering $8.25 million.
“This will be a community of nearly all new 2026 homes—there’s nothing like it on the coast,” said McNicholas.
🏗️ Rebuilding Fast: New Roads, Schools, and Fire-Resistant Homes
The rebuild isn’t just cosmetic. Pacific Palisades is rising from the ashes with:
-
Modern utilities
-
Updated infrastructure
-
Underground power lines
-
Fire-resistant building codes
Thanks to the Army Corps of Engineers, debris was cleared at no cost for uninsured residents, speeding up recovery and development timelines.
🏡 Who’s Buying? Everyone From Locals to Opportunists
Buyers include:
-
Longtime residents looking to rebuild their lives.
-
Newcomers who never imagined affording a Palisades address.
-
Investors aiming to flip or hold.
“There are people who always dreamed of living here,” McNicholas said. “Now, because of what’s happened, they can.”
He added: “Even buyers who are just holding these cleared lots will likely see a return.”
⚠️ Cash Is King—But So Is Caution
Financing for burned lots is nearly impossible—purchases are cash-only. And despite city efforts to prevent future fires, risks remain.
“Unless brush management improves, there’s always a chance this happens again,” McNicholas warned. “But some are calling this a once-in-100-year event.”
Still, the early sales—though emotionally and economically complex—are setting a foundation for the new Pacific Palisades.
“I had to find a price that made sense for buyers betting on the future—and for sellers who needed to move forward,” he said. “That’s something I’m proud of.”
The lot left behind at 635 Ocampo Drive after the Palisades fire
The house that stood at 635 Ocampo Drive before the Palisades fire
JNY Investments is promoting plans for an 8,200-square-foot modern estate at 15515 Via De Las Olas. Pictured is a rendering of the proposed property
📊 The Fire’s Toll: A Snapshot
-
Start date: 7 January 2025
-
Acres burned: 23,448
-
Structures destroyed: 6,837
-
Lives lost: 12
-
Evacuations: Over 100,000
-
Estimated damage: $25 billion (third-worst in CA history)
The Pacific Palisades Fire, which ignited on January 7, 2025, amid intense Santa Ana winds and prolonged drought, became one of the most devastating wildfires in Los Angeles history
An aerial view of homes destroyed in the Palisades Fire
🚧 What’s Next?
The transformation of Pacific Palisades is already underway. With land values holding strong and new construction on the horizon, this fire-ravaged community may soon become one of the most modern and desirable coastal neighborhoods in California.
SOURCE: THE DAILY MAIL