$12.5 Million Home Sale Sets 2023 Record (So Far) For Palos Verdes Peninsula

It’s a bit early in 2023 to speak about report actual property costs, but right here we’re. A ten-acre property in Southern California’s prestigious Rolling Hills Estates not too long ago offered for $12.5 million, the very best residence worth on the Palos Verdes Peninsula to this point in 2023.

The house on Georgeff Highway was snapped up in sooner or later. “The primary one that noticed it purchased it — full worth,” says promoting agent Suzanne Dyer of Strand Hill Properties.

The ranch-style residence behind gates in Rolling Hills Estates is a sprawling hilltop property in the course of horse nation. Residents have entry to greater than 20 miles of horseback using and mountain climbing trails proper outdoors their doorways. The home is about atop lush canyons with expansive views of the coast and twinkling metropolis lights alongside the peninsula, and panoramas of the San Gabriel Mountains to the north.

It was in-built 1980 and hasn’t been in the marketplace for 43 years. The home has 5 bedrooms and 7 full or partial bogs plus a pool, tennis courts, gazebo with rolling lawns, and parking for 3 vehicles.

The positioning’s location makes it a standout. “It’s actually uncommon to seek out 10 flat acres,” Dyer says. “It has spectacular views, and it’s very non-public. It’s only a actually, actually particular property.”

Rolling Hills Estates is understood for its pure magnificence and tranquil setting about 25 miles from downtown Los Angeles. The 87-acre public South Coast Botanic Backyard and the Peter Weber Equestrian Middle, which presents horse classes and camps, are close by. The gated group options 24-hour guards at three entrances to town. Extra facilities embody group tennis and pickleball courts.

The house belonged to the late Frank Robinson, aeronautical engineer and founding father of Robinson Helicopter Firm in Torrance. He designed and manufactured the favored two-seater R44 helicopter, which first flew in 1990, and remained a high vendor for many years earlier than it was eclipsed by newer fashions. Robinson was identified for bringing light-weight, versatile helicopters to the market.

Robinson obtained a number of trade awards for his work, together with being inducted into the San Diego Air & Area Corridor of Fame in 2009. He retired from the now 50-year-old firm in 2010 and died in November on the age of 92.

One-time proprietor of the L.A. Rams soccer group, Georgia Frontiere, beforehand owned the property.

So far as the record-setting sale goes, it might not stand for lengthy. The very best-priced sale on the Palos Verdes Peninsula in 2022 was $17,150,000 for a Palos Verdes Estates residence.


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