Sold! 4040 Via Valmonte, Palos Verdes Estates

This iconic Valmonte property sold for a record price for a 3 bedroom house on a lot less than 10,000 sqft.  Why did a house sell for such a high price per square foot?  This one is simple – it is a special home.  Built by the previous owner as a second home, the attention to detail and craftsmanship is top notch.  Built-ins are found in nearly every room, and the kids bunk room is something you would see in a magazine.  Even the stone work is something you won’t find on every home.  This is something that to replace at today’s construction costs would be well over the price paid today – $2,575,000.  An the lot is unique.  The house sits high on the lot, well above the street below, and when you are in the backyard you feel like you are in a different world.  With room for a pool or to expand the house, this is one with options – not easy to find in Valmonte.

The sellers worked with local architect Russ Barto to design a 2000+ square foot addition with a detached garage,  ADU, and pool.  After some changes in circumstances that necessitated selling the house, we listed the house for sale in the Spring with the hope of finding a buyer willing to take on the building project but we were not able to find any takers.  After one price reduction to a more palatable price, the buyer recognized the value for an upgraded, move-in ready Valmonte property with a large yard and moved forward with the purchase.  Our seller’s patience paid off and resulted in a record sale for a 3 bedroom home on a lot under 10,000 square feet.