It depends. How much of that location value was because of the views, proximity to LA proper, etc.? How much of it was due to the types of houses that were in

It depends. How much of that location value was because of the views, proximity to LA proper, etc.? How much of it was due to the types of houses that were in those specific neighborhoods and the type of people that lived in them? If the "rich and famous" don't return to those neighborhoods and rebuild their multi-million dollar homes, those parcels will be worth significantly less.