$23,750,000
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5644 Ravenspur Drive Rancho Palos Verdes, CA 90275
Cluster
Residence
95
Beds
96
Baths
...
Bed/Bath
55,522
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
Views
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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 Penins...ula 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.
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MLS#
25592319
Property Type
Cluster
Bedrooms
95
Bathrooms
Year Built
1969
Square Feet
55,522
sq. ft
Lot Size
1.86
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