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$4,800,000

Beds
6
Baths
7.5
sq ft
7,848

6224 Ocean Terrace Dr, Rancho Palos Verdes, CA 90275

6224 Ocean Terrace Dr

Rancho Palos Verdes, CA 90275

  • Pending
    • Price drop $2,700,000↓
AUCTION BIDDING OPEN: Bidding ends December 20th. Previously Listed $7.5M. Current High Bid $4.8M. Positioned on a quiet cul-de-sac in the prestigious Sea Crest Community on the Palos Verdes Peninsula, this modern estate offers breathtaking vistas. A recent multimillion-dollar renovation transformed this 7,848-square-foot sanctuary into an epitome of opulence, seamlessly blending coastal grandeur with state-of-the-art amenities. From the circular drive and porte-cochere to a striking reception bridge leading to a steel pivot door entry, each architectural element welcomes with sophistication. The residence boasts abundant natural light, marble finishes, and expansive glass walls framing unmatched views of the Pacific Ocean, Catalina Island, and nearby landmarks. Lavish spaces for entertaining include a living room with a grand fireplace and towering tri-fold doors that open to panoramic deck views, a spacious family room, and an ocean-view gourmet kitchen equipped with Viking appliances and custom European cabinetry. Outside, limestone pathways, lush gardens, and fruit trees surround a resort-style pool and spa. This estate is a coastal paradise of privacy, luxury, and panoramic beauty.

Details

Property type

Single Family Residence

Est. home value

$5,618,253

Property condition

Updated/Remodeled

Lot size

0.5227 acres

Price per sq ft

$612

Year built

1989

HOA

No

Price History

12/23/2024
CRMLS

CRMLS #PV24128183

Pending
$4,800,000
12/18/2024
CRMLS

CRMLS #PV24128183

Price change
$4,800,000
-36%
10/18/2024
CRMLS

CRMLS #PV24128183

Price change
$7,500,000
-5.66%

Schools & Community

Elementary school: 

Vista Grande

Middle school: 

Ridgecrest

High school: 

Peninsula

Community features: 

Golf, Suburban

High school district: 

Palos Verdes Peninsula Unified

Seller’s Loan History

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

Lender

Jpmorgan Chase Bank Na

Loan start date

August 2023

Original loan amount

$5,000,000

Est. remaining balance

Not provided

Interest rate

6.12%

Loan type

New Conventional, 30 year

Seller

Vicente Zarate and Ingrid Zarate

Lender

Axos Bank

Loan start date

April 2023

Original loan amount

$3,900,000

Est. remaining balance

Not provided

Interest rate

8.25%

Loan type

New Conventional, 30 year

Seller

Vicente Zarate and Ingrid Zarate

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?

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Status: Pending/Under Contract

Tomo last checked: 12/23/2024 at 1:50 AM

Listing updated: 12/22/2024 at 7:49 PM

Listed by: Stephen Haw, Keller Williams Palos Verdes Phone #: (310) 544-6100

MLS: CRMLS #PV24128183

CRMLS logo