RealKey
‪(213) 433-7766‬

2950 Palos Verdes Drive N, Rolling Hills, California 90274, Rolling Hills, 90274 - 4 bed, 4 bath

2950 Palos Verdes Drive N, Rolling Hills, California 90274 home-pic-0
ACTIVE$1,900,000
2950 Palos Verdes Drive N, Rolling Hills, California 90274
4Beds
4Baths
3,822Sqft
50,913Lot
Year Built
1977
Close
-
List price
$1.9M
Original List price
$2.3M
Price/Sqft
$497
HOA
$1,800
Days on market
-
Sold On
-
MLS number
SB25139447
Home ConditionTear down
Features
Good View: City Lights
Deck
ViewCity Lights

About this home

We found 3 Cons,7 Pros. Rank: price - $1.90M(13th), sqft - 3822(81th), beds - 4(50th), baths - 4(56th).

Great Opportunity in Rolling Hills – Red Tag Property with Builder Potential Discover an exceptional investment opportunity in the prestigious Rolling Hills community. This single-level family home offers a unique chance for builders, investors, or visionary homeowners to unlock its full potential. Featuring 4 spacious bedrooms and 4 full bathrooms, the property includes 2 separate units, providing flexibility for multi-generational living or rental income. Please note: this is a Red Tag property. The current owner is actively working with both the City and County to secure permits for necessary improvements. The home has a foundation issue that will require repair, presenting a prime opportunity for value-add redevelopment in one of the most desirable neighborhoods in the area. Key Features: Located in the highly sought-after Rolling Hills community 4 Bedrooms | 4 Bathrooms 2 Units on a Single-Level Layout Large Lot with Potential Foundation Needs Repair – Permits in Progress Ideal for Builders, Contractors, and Investors Bring your vision and turn this into a dream home or a profitable investment. Property being sold as-is. Don’t miss out on this rare opportunity!

Nearby schools

10/10
Rancho Vista Elementary School
Public,•K-5•1.5mi
9/10
Soleado Elementary School
Public,•K-5•1.7mi
8/10
Mira Catalina Elementary School
Public,•K-5•2.1mi
8/10
Dapplegray Elementary School
Public,•K-5•3.2mi
9/10
Vista Grande Elementary School
Public,•K-5•3.7mi
8/10
Miraleste Intermediate School
Public,•6-8•1.5mi
9/10
Ridgecrest Intermediate School
Public,•6-8•2.3mi
10/10
Palos Verdes Peninsula High School
Public,•9-12•2.2mi
8/10
Palos Verdes High School
Public,•9-12•4.7mi

Price History

Date
Event
Price
07/10/24
Sold
$1,700,000
Condition Rating
Tear down
This property is explicitly listed as a 'Red Tag property' with a 'foundation issue that will require repair.' The images further reveal severe roof damage, visible structural issues, and a dumpster on site, indicating extensive disrepair. A 'Red Tag' status means the property is deemed unsafe and unlivable in its current condition. While demolition isn't explicitly mandated, the combination of a major structural defect (foundation), severe roof damage, and the 'Red Tag' status strongly suggests the existing structure is beyond economical repair and its value lies primarily in the land for redevelopment, aligning with the 'tear-down' criteria.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 50913, living area = 3822.
Great Schools: Elementary School: Rancho Vista Elementary School (10/10). Middle School: Ridgecrest Intermediate School (9/10). High School: Palos Verdes Peninsula High School (10/10).
Prestigious Location: Situated in the highly sought-after Rolling Hills community, known for its exclusivity and desirability.
Significant Redevelopment Potential: Presents a prime 'value-add redevelopment' opportunity, ideal for builders, contractors, and investors looking to capitalize on a substantial project.
Flexible Multi-Unit Layout: Features two separate units and a single-level design, offering versatility for multi-generational living or potential rental income.
Generous Property Dimensions: Boasts a substantial 3,822 sqft of living space with 4 bedrooms and 4 bathrooms, set on a large 50,913 sqft lot.
Desirable Views & School District: Offers city lights views and is located within the highly-rated Palos Verdes Peninsula Unified School District.

Cons

Red Tag Property Status: Currently designated as a 'Red Tag' property, indicating significant safety or structural concerns that prevent immediate occupancy and require extensive remediation.
Major Structural Issues: Explicitly requires 'foundation repair,' signifying a substantial and potentially costly structural defect that will necessitate significant investment.
As-Is Sale & Permit Uncertainty: Sold in 'as-is' condition, placing all repair responsibilities and costs on the buyer. The ongoing permit process for necessary improvements introduces potential delays and regulatory complexities.

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI

Browse Properties by State Browse housing market trends by state