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$29,750,000

Beds
7
Baths
9.5
sq ft
12,472

245 Rocky Point Rd, Palos Verdes Estates, CA 90274

245 Rocky Point Rd

Palos Verdes Estates, CA 90274

  • 389 days on market
    • Price drop $5,250,000↓
Perched on the western-most point of Palos Verdes Estates on a pristine bluff, this sprawling compound spans over 1.15 acres of lush coastal land, offering 180-degree views of California coastline. This property has never been offered on the market, presenting a rare opportunity for discerning buyers seeking luxury and seclusion along the Southern California coast. Renowned interior designer Tim Clarke meticulously curated this residence, crafted with stone and plaster to blend seamlessly with the surroundings. Behind privacy gates, the compound provides an inviting atmosphere that effortlessly combines comfort and exquisite design, creating a remarkable coastal retreat. Fully retractable sliding doors blend the boundaries between interior and exterior spaces throughout the property. The chef's kitchen boasts French limestone countertops from the ancient Massangis quarry, a Wolf 6-burner stove, a copper sink with a graceful patina and Waterworks fixtures. Reclaimed wood-beamed ceilings, French white oak, limestone floors, Roman clay plaster walls, vintage Italian chandeliers and antique fireplace mantels from France contribute to its timeless elegance and contemporary comfort. The primary suite offers breathtaking ocean views with disappearing doors, an outdoor spa, a luxurious bathroom and a bespoke walk-in closet. Landscape architect Art Luna's design harmoniously blends the coastal habitat and natural wonders of the expansive property. Sprawling lawns, limestone hardscape, and pergolas surround the pool and spa, creating an enchanting outdoor oasis that celebrates the coastal surroundings. The guest house and entertainment pavilion seamlessly blend comfort and luxury, featuring a custom indoor Italian grill, oversized dining area and multiple seating areas leading to the pool and spa area. Two generously appointed bedrooms, three and a half bathrooms, a well-equipped gym, secured wine cellar which holds over 1200 bottles of wine, and a home office area complete this idyllic retreat. This property offers a once-in-a-lifetime opportunity to experience the epitome of coastal living.

Details

Property type

Single Family Residence

Est. home value

$11,563,761

Lot size

1.1533 acres

Price per sq ft

$2,386

Year built

2016

Price History

06/27/2024
CRMLS

CRMLS #SB23170243

Price change
$29,750,000
-15%
09/12/2023
CRMLS

CRMLS #SB23170243

Listed
$35,000,000

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Park

High school district: 

Palos Verdes Peninsula Unified

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$23,160,438
Asking price
$29,750,000
Closing costs (~8% of asking)
-$2,380,000
Est. remaining loan balance
-$4,209,562
Cash to seller
$23,160,438

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Wells Fargo Bank Na

Loan start date

January 2017

Original loan amount

$5,000,000

Est. remaining balance

$4,209,562

Interest rate

3.94%

Loan type

New Conventional, 30 year

Seller

Timothy D Armour and Del Mar Trust

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 10/05/2024 at 12:20 AM

Listing updated: 09/02/2024 at 2:05 PM

Listed by: Brittney Austin, Vista Sotheby’s International Realty Phone #: (310) 546-7611

MLS: CRMLS #SB23170243

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