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$25,000,000
Est. payment /mo
55,522 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 55,522 sqft
Price per Sqft $450
MLS Listing ID CL25592319
HOA Y/N No
Year Built 1969
Lot Size 1.865 Acres
Acres 1.86
Property Sub-Type Other
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 reno
Location
State CA
County Los Angeles
Zoning RPRM
Interior
Heating Radiant
Cooling None
Flooring Vinyl, Carpet
Fireplace No
Laundry Common Area
Building
New Construction No
Others
Tax ID 7589006006
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Listed by John Katnik • BRC Advisors- BH
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