Major price correction! MAJESTIC VIEWS lot located in THE SUMMIT, the most prestigious area of the Palisades Highlands (one of L.A.'s "best kept secrets"). On a Private Gated Street, across from the SUMMIT CLUB, this Ocean and Mountain views lot awaits your chance to rebuild your OWN magnificent Mediterranean home. The original home was a 3183 Sq-Ft, 5bed + 4bath Mediterranean Villa providing direct entry to a 2-car garage. The sale includes owners' existing original architectural plans. The EPA Phase 1 & Phase 2 have been completed. The property includes membership to the "SUMMIT CLUB" (resort-style pool, spa, clubhouse with kitchen, tennis courts, gym, playground area, sports court with staff) * AND * "PDRA-Palisades Drive Recreational Assoc" (w/ VIEWS, "off-leash" dog hours, picnic tables, walking/jogging track with exercise equipment, fenced jungle-gym area, a large grassy park-field + parking and restrooms). Enjoy the unique Highlands "micro-climate", hiking/mountain biking trails and surrounding nature. Only minutes to the Palisades "village" and beaches. The Summit is governed by the home owner association CC&R'S. Call agent for HOA dues information.