A mid-century modern home located at 1120 Wallace Ridge in the Beverly Hills market is currently under contract. The property spans 7,000 square feet and sits on 0.71 acres, priced at $38,800,000. This home, designed by Edward Fickett, notably more than doubled its 2022 sale price of $19.5 million.

Summary of transation details:

• Property Type: Single Family
• Transaction Amount: $38,800,000
• Address: 1120 Wallace Ridge
• Market: Beverly Hills
• Square Footage: 7,000
• Price Per Square Foot: $5,543
• Seller: Mehrad Javahery
• Broker Representatives: Kurt Rappaport & Stuart Vetterick - Westside Estate Agency; Branden Williams & Rayni Williams - Williams & Williams Estates Group - The Beverly Hills Estates

Last week, this signed contract represented the highest price in Los Angeles, as the luxury market recorded 28 signed contracts totaling $221.9 million, reflecting a slight decrease from the prior week's total of $231.8 million. The second-ranked property was a $15.9 million Cape Cod-style home situated on Malibu’s Billionaire’s Beach.