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$25,000,000

Est. payment - /mo

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95 Beds

96 Baths

55,522 SqFt

Active

5644 Ravenspur DR Rancho Palos Verdes, CA 90275

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Chris Mardelli

chris@therealupside.com +1(310) 571-5761

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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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