1339 Chautauqua Boulevard

Set just above the sought-after Alphabet Streets, this is one of the best view sites in Pacific Palisades, taking in the city, the coastline, Catalina Island, and the full sweep of the Santa Monica Bay. A street-to-street parcel, much of the buildable area is flat with a gentle slope at the lower end - a rare advantage in a neighborhood defined by sheer hillside sites. The previous residence spanned 4,204 square feet over two levels, with the views on display from nearly every room. Caruso's newly reopened Palisades Village is a two-minute drive, or a brisk stroll away. Land of this caliber rarely comes to market, and this is the foundation for one of the Palisades' great future estates.