$ 23,750,000
-
$23,750,000
Price -
7
Bed -
7
Bath -
55,522
SqFt
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About the Listing CLW-X82405 - CLW-C133711
Over $1M Price Reduction! 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. Attractive assumable loan!! Call for details! The property has undergone extensive capital improvements including re-tiling all roofs and new electrical subpanels throughout all units. With 5 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 $428 per square foot. It is currently operating at a 3.80% cap rate, with potential to achieve a proforma cap rate of 6.37%. 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.
Listing Highlights
Status
Active
Days on Site
91
Property Type
Multi-Family
MLS ®
25592319
Year Built
1969
Total Square Footage
55,522
Lot/Acreage
1.86
County
Los Angeles
Area
174 - Crest
Interior Details
- Bedrooms: 7
- Bathrooms: 7 Full
- Appliances:
- Air Cond:
- Heating: Radiant
- Fireplaces:
- Floor: Vinyl,Carpet
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 72
- Zoning: RPRM2000*
- Roof: Tile
- Others: 2+ Total Units
- Sewer:
- Parking Features: Attached Carport
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 7589006006
- Tax Year: N/A
Payment Calculator
Monthly Payment
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- in Taxes
Years
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Questions About..
5644 Ravenspur Dr Rancho Palos Verdes, CA 90275
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