It’s a bit early in 2023 to talk about record real estate prices, yet here we are. A 10-acre estate in Southern California’s prestigious Rolling Hills Estates recently sold for $12.5 million, the highest home price on the Palos Verdes Peninsula so far in 2023.
The home on Georgeff Road was snapped up in one day. “The first person who saw it bought it — full price,” says selling agent Suzanne Dyer of Strand Hill Properties.
The ranch-style home behind gates in Rolling Hills Estates is a sprawling hilltop property in the middle of horse country. Residents have access to more than 20 miles of horseback riding and hiking trails right outside their doors. The house is set atop lush canyons with expansive views of the coast and twinkling city lights along the peninsula, and panoramas of the San Gabriel Mountains to the north.
It was built in 1980 and hasn’t been on the market for 43 years. The house has five bedrooms and seven full or partial bathrooms plus a pool, tennis courts, gazebo with rolling lawns, and parking for three cars.
The site’s location makes it a standout. “It’s really rare to find 10 flat acres,” Dyer says. “It has spectacular views, and it’s very private. It is just a really, really special property.”
Rolling Hills Estates is known for its natural beauty and tranquil setting about 25 miles from downtown Los Angeles. The 87-acre public South Coast Botanic Garden and the Peter Weber Equestrian Center, which offers horse lessons and camps, are nearby. The gated community features 24-hour guards at three entrances to the city. Additional amenities include community tennis and pickleball courts.
The home belonged to the late Frank Robinson, aeronautical engineer and founder of Robinson Helicopter Company in Torrance. He designed and manufactured the popular two-seater R44 helicopter, which first flew in 1990, and remained a top seller for decades before it was eclipsed by newer models. Robinson was known for bringing lightweight, versatile helicopters to the market.
Robinson received several industry awards for his work, including being inducted into the San Diego Air & Space Hall of Fame in 2009. He retired from the now 50-year-old company in 2010 and died in November at the age of 92.
One-time owner of the L.A. Rams football team, Georgia Frontiere, previously owned the property.
As far as the record-setting sale goes, it may not stand for long. The highest-priced sale on the Palos Verdes Peninsula in 2022 was $17,150,000 for a Palos Verdes Estates home.
MORE FROM FORBES GLOBAL PROPERTIES
Strand Hill Properties is an exclusive member of Forbes Global Properties, a consumer marketplace and membership network of elite brokerages selling the world’s most luxurious homes.