NOT LISTED FOR SALE

29015 Covecrest Dr Rancho Palos Verdes, CA 90275

Estimated Value: $2,687,000 - $3,068,000

5 Beds
5 Baths
3,059 Sq Ft
$946/Sq Ft Est. Value

Last Sold June 28, 2022

Last sale price $2,901,000 $948 Per Sq Ft

Current estimated payment $18,115/month

12 Days on Market

Highlights

  • Ocean View
  • Filtered Pool
  • Open Floorplan
  • Montemalaga Elementary School Rated A+
  • Primary Bedroom Suite
  • Maid or Guest Quarters

About This Home

As of June 2022

Stunning ocean views from Catalina to Malibu will take your breath away from this picturesque single-level family home in prestigious Rancho Palos Verdes. An inviting entry with a drought-friendly garden welcomes you into this wonderful home that has been meticulously updated with the utmost care. Gleaming floors, custom crown moulding with matching pillars, recessed lighting, a built-in speaker system, and high ceilings. The sprawling, stair-free, open floorplan has tons of natural light in every room. The large great room features a fireplace with custom framing for cozy evenings and complete ceiling to floor and wall to wall windows and sliders offering dazzling ocean views from every angle as far as the eye can see. The kitchen has beautiful granite countertops, newer stainless appliances including dual ovens, and an island with bar seating. The floorplan has 5 bedrooms all with built-in closets and 5 bathrooms which were all redone with newer fixtures, cabinetry, granite countertops, and custom tile. The home has many high-quality upgrades including dual-paned windows, efficient smart thermostat and air conditioning, and R30 insulation in the walls and ceilings and partially through the attic which help keep the house quiet. The house has been re-piped with all copper plumbing throughout, and new sewer lines were run from the house to the street. Solar panels have been installed which results in a very low monthly electricity bill. The large 3-car garage has easy, direct access to the house. The backyard is ready for entertaining. It is a beautiful oasis designed for pool parties in the summer with family and friends, enjoying the sparkling pool with a more efficient pool pump and new heater installed in 2021. The large outdoor space accommodates a large number of guests where kids can play and swim in the pool while adults enjoy drinks and food while looking at the gorgeous view. The aluminum alloy, rust and termite-proof awning offer shade with style. In the evening you can gather around the built-in fire pit to enjoy s’mores and conversation while soaking in the warm summer evening. There is a large raised gardening space with vegetables, berries, melons, eggplants, and squash. You will also find pomegranate, mulberry, fig, lemon, line, apricot, and peach trees that offer fruit every year. Living in this clean and beautiful house can feel like being on vacation every day. You can enjoy the Spectacular morning sunrise and sunset ocean views!

Last Agent to Sell the Property

Terry Russell

Home Smart Realty Group License #01220891 Listed on: 05/24/2022

Home Smart Realty Group

Last Buyer's Agent

Terry Russell

Home Smart Realty Group License #01220891 Listed on: 05/24/2022

Home Smart Realty Group

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $33,847

Year Built

  • Built in 1967

Lot Details

  • 0.28 Acre Lot
  • Landscaped
  • Sprinkler System
  • Garden
  • Back and Front Yard
  • Property is zoned RPRS10000*

Parking

  • 3 Car Direct Access Garage
  • Parking Available
  • Two Garage Doors
  • Garage Door Opener
  • Driveway

Property Views

  • Ocean
  • Catalina

Home Design

  • Copper Plumbing

Interior Spaces

  • 3,059 Sq Ft Home
  • 1-Story Property
  • Open Floorplan
  • Central Vacuum
  • Crown Molding
  • High Ceiling
  • Great Room
  • Living Room with Fireplace
  • Laundry Room

Kitchen

  • Double Oven
  • Gas Cooktop
  • Microwave

Bedrooms and Bathrooms

  • 5 Main Level Bedrooms
  • Primary Bedroom Suite
  • Walk-In Closet
  • Maid or Guest Quarters
  • 5 Full Bathrooms
  • Granite Bathroom Countertops

Home Security

  • Home Security System
  • Fire and Smoke Detector

Pool

  • Filtered Pool
  • In Ground Pool
  • Pool Cover

Schools

  • Montemalaga Elementary School
  • Ridgecrest Middle School
  • Peninsula High School

Additional Features

  • No Interior Steps
  • Rain Gutters
  • Property is near a park
  • Central Heating and Cooling System

Community Details

  • No Home Owners Association

Listing and Financial Details

  • Tax Lot 31
  • Tax Tract Number 27677
  • Assessor Parcel Number 7585015016

Home Details

Home Type

Single Family

Est. Annual Taxes

$33,847

Year Built

Built in 1967

Lot Details

0

Parking

3

Listing Details

  • Structure Type: House
  • Assessments: Yes
  • Property Attached: No
  • Security: Fire and Smoke Detection System, Security System
  • View: Yes
  • Zoning: RPRS10000*
  • Property Sub Type: Single Family Residence
  • Property Type: Residential
  • Parcel Number: 7585015016
  • Year Built: 1967
  • Special Features: None

Interior Features

  • Fireplace: Yes
  • Living Area: 3059.00 Square Feet
  • Interior Amenities: Copper Plumbing Full, Crown Molding, High Ceilings, Open Floorplan, Vacuum Central
  • Stories: 1
  • Entry Location: 1st floor
  • Common Walls: No Common Walls
  • Accessibility Features: No Interior Steps
  • Appliances: Yes
  • Full Bathrooms: 5
  • Full And Three Quarter Bathrooms: 5
  • Total Bedrooms: 5
  • Fireplace Features: Living Room
  • Levels: One
  • Main Level Bathrooms: 5
  • Main Level Bedrooms: 5
  • Price Per Square Foot: 948.35
  • Room Type: Great Room, Guest/Maid's Quarters, Kitchen, Laundry, Living Room, Master Suite, Walk-In Closet
  • Bathroom Features: Granite Counters

Exterior Features

  • View: Catalina, Ocean
  • Pool Features: Private, Filtered, In Ground, Pool Cover
  • Pool Private: Yes

Garage/Parking

  • Attached Garage: Yes
  • Garage Spaces: 3.00
  • Parking: Yes
  • Parking Features: Direct Garage Access, Driveway, Garage, Garage - Two Door, Garage Door Opener
  • Total Parking Spaces: 3.00

Utilities

  • Sprinklers: Yes
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Double Oven, Gas Cooktop, Microwave
  • Heating Type: Central
  • Laundry Features: Individual Room, Inside
  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Gutters, Sidewalks

Schools

  • School District: Palos Verdes Peninsula Unified
  • Elementary School: Montemalaga
  • Middle School: Ridgecrest
  • High School: Peninsula
  • Elementary School: Montemalaga
  • High School: Peninsula
  • Middle Or Junior School: Ridgecrest
  • Elementary School #2: MONTEM
  • High School2: PENINS

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Back Yard, Front Yard, Garden, Landscaped, Park Nearby, Sprinkler System
  • Lot Size Sq Ft: 12280.00
  • Lot Size Acres: 0.2819

Multi Family

  • Lease Considered: No
  • Lot Size Area: 12280.0000 Square Feet
  • Number Of Units Total: 1

Tax Info

  • Tax Census Tract: 6704.07
  • Tax Lot: 31
  • Tax Tract Number: 27677

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Feb 10, 2003
Sold by
Lolachi Christopher and Lolachi Anoosheh
Bought by
Lolachi Christopher and Lolachi Anoosheh
Current Estimated Value
$2,893,096

Purchase Details

Closed on
Mar 19, 2002
Sold by
Lolachi Christopher M and Lolachi Anoosheh
Bought by
Lolachi Christopher M and Lolachi Anoosheh

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$525,000
Outstanding Balance
$216,373
Interest Rate
6.87%
Estimated Equity
$2,676,723

Purchase Details

Closed on
Feb 17, 1998
Sold by
Mavros Glenn S and Mavros Ellen T
Bought by
Lolachi Christopher and Pourdanesh Anoosheh

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$479,920
Interest Rate
6.95%
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Lolachi Christopher -- --
Lolachi Christopher M -- North American Title Co
Lolachi Christopher $600,000 Provident Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Lolachi Christopher M $525,000
Closed Lolachi Christopher $479,920
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/28/2022 06/28/22 Sold $2,901,000 +3.6% $948 / Sq Ft
05/24/2022 05/24/22 For Sale $2,799,000 0.0% $915 / Sq Ft
01/26/2021 01/26/21 Rented $6,300 0.0% --
01/20/2021 01/20/21 Off Market $6,300 -- --
01/18/2021 01/18/21 For Rent $6,300 0.0% --
01/14/2021 01/14/21 Off Market $6,300 -- --
01/10/2021 01/10/21 For Rent $6,300 -- --
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $33,847 $3,078,563 $2,462,002 $616,561
2024 $33,847 $3,018,200 $2,413,728 $604,472
2023 $33,280 $2,959,020 $2,366,400 $592,620
2022 $12,917 $1,126,716 $626,686 $500,030
2021 $12,806 $1,104,625 $614,399 $490,226
2019 $12,249 $1,071,864 $596,177 $475,687
2018 $12,015 $1,050,848 $584,488 $466,360
2016 $11,438 $1,010,044 $561,793 $448,251
2015 $11,432 $994,873 $553,355 $441,518
2014 $11,275 $975,386 $542,516 $432,870
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB22109297

California Regional Multiple Listing Service (CRMLS)

APN: 7585-015-016