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$ 25,000,000
Est. payment | /mo
95 Beds
96 Baths
55,522 SqFt
$ 25,000,000
Est. payment | /mo
95 Beds
96 Baths
55,522 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 55,522 sqft
Price per Sqft $450
MLS Listing ID 25592319
Bedrooms 95
HOA Y/N No
Year Built 1969
Lot Size 1.865 Acres
Property Description
We are excited to present the Peninsula Villas, a unique apartment opportunity in the highly desirable coastal community of Rancho Palos Verdes. This rare property offers significant value-add potential in one of Southern California's most sought-after locations. The Peninsula Villas is located at 5644 Ravenspur Dr and spans two acres with a total of 48 apartment units plus 1 non-conforming apartment unit. The current unit mix includes 1 studio/1 bathroom unit, 1 one-bedroom/1 bathroom unit, 28 two-bedroom/1.5 bathroom townhome units, 13 two-bedroom/2 bathroom units and 6 two-bedroom/2 bathroom townhome units. Residents enjoy ample on-site parking, laundry facilities, and a beautiful swimming pool. In addition, the property is encumbered with an assumable loan of $10,000,000, interest-only at a fixed rate of 5.55% for a little under 5 years, providing immediate access to below-market financing and enhancing the overall investment profile (Call Broker for Financing Details). The property has undergone extensive capital improvements including re-tiling all roofs and new electrical subpanels throughout all units. With four current vacancies and rental rates below market value for many of the occupied units, there is a substantial opportunity to increase income through strategic renovations. The property is offered at an attractive $450 per square foot. It is currently operating at a 3.50% cap rate, with potential to achieve a proforma cap rate of 6.00%. Given the limited supply of multifamily properties in Rancho Palos Verdes, this is a rare generational opportunity to acquire a value-add asset with significant future upside.
Location
State CA
County Los Angeles
Area 174 - Crest
Zoning RPRM2000*
Interior
Heating Radiant
Cooling None
Flooring Carpet, Vinyl
Fireplace No
Laundry Common Area
Exterior
Parking Features Attached Carport
Pool Community
Community Features Pool
Roof Type Tile
Total Parking Spaces 72
Private Pool No
Building
Story 3
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 7589006006
Special Listing Condition Standard
Listed by John Katnik BRC Advisors- BH
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