Just Leased: 948 Paseo La Cresta Palos Verdes Estates
I just leased this mega huge mid century ocean view property on Paseo La Cresta in Palos Verdes Estates.
With jaw dropping ocean. coastline, and Catalina views from multiple levels of this over 9,000 Sq Ft home sitting on one of the nicest streets in 90274 there’s more than enough room for multiple work from home occupants.
The home offers casual CA elegance in a spectacular setting and is one of the largest SFRs in the area which I was quite surprised to discover when I did my research.
And these days when we've all been spending so much time at home there's ample space for work, relaxing, home schooling, hanging out and just about anything else you want to do.
Private gated driveway, ocean view tennis court, 3 car garage, multiple living and family rooms, fireplaces, and other amenities make this the ideal estate to lease. It is doubtful you will find another home on the hill with as much space and if you do, it won't have these views.
As with many of the sales and leases I do, there’s some great lessons to be learned from this property. Here’s a few.
YOU NEED TO PRESENT YOUR LEASE AS IF IT WERE FOR SALE
The owners of this property now live primarily over seas and hadn’t been back since before the pandemic lockdown. But when you walked into the house it looked like the just left 5 minutes ago. In other words, cluttered, needing a deep cleaning and not shown off to its best advantage. That doesn’t make it any easier to lease. My recommendation to all landlords is the same as for sellers: declutter and put your best foot forward.
DON’T LIST A PROPERTY FOR LEASE WAY IN ADVANCE OF WHEN IT IS AVAILABLE
Often I have landlords wanting to list while their outgoing tenants are still in place and the property can’t be moved in to yet. I understand not wanting to have an interruption of rental income but I think it is advisable to only list when the new tenants can move in within 30 days.
For this property, while the tenants could have potentially moved in almost immediately, considering how much work had to be done to clear out a 9,000 Sq Ft property, many prospective tenants who previously viewed it, needed something faster than the landlord could get it prepared.
THINK OUTSIDE THE BOX
There are alternatives to 12 month leases. This property was leased for a longer than one year term. Sometimes landlords might make more money doing shorter term leases or in this case of this property, using it for special events or Airbnb (neither of which was done).
