361 Riviera Drive
About This Property
This remarkable home captures the essence of upscale living and whimsical charm, boasting coveted Lake Rights for the perfect blend of golf course sophistication and lakeside leisure-just a short five-minute drive to sparkling Lake Arrowhead for boating and water adventures.
Upon arrival, you'll be greeted by an expansive front yard brimming with endless potential, whether you dream of expanding the residence, adding an ADU, or accommodating your boat or RV. Nearly level entry ensures effortless living, with the home's grandeur unfolding on the main floor.
Enter through an impressive foyer leading into a sunken living room adorned with a cozy fireplace and captivating floor-to-ceiling windows, framing the emerald beauty of the 3rd green and beyond. The views flow seamlessly into the dining room, expanding dramatically at the corner to reveal panoramic vistas over Grass Valley Lake.
The spacious gourmet kitchen inspires culinary creativity, featuring abundant storage and prep space ideal for seasoned chefs or casual cooks alike. Whether hosting intimate dinners or vibrant gatherings, the kitchen effortlessly flows into an additional dining area or whimsical entertainment nook, perfect for games or relaxing with friends. A uniquely chic mountain-green and gold wet bar elegantly connects the kitchen and dining spaces.
Retreat to the luxurious primary suite on the main level, complete with a tranquil seating area, generous walk-in closet, dual vanities, and a lavish en suite bathroom. Three additional spacious bedrooms and a guest bathroom, plus a convenient powder room, round out this floor, ensuring comfort and privacy for everyone.
Descend to discover a versatile lower-level bedroom suite with its own private entrance and bathroom-ideal for a playful bunk room, lively game space, or even a private guest retreat or separate apartment.
Step outdoors onto the expansive deck, where you'll immerse yourself in mesmerizing fairway views and sun-dappled serenity. The lower-level concrete patio provides abundant storage and a spacious golf cart garage, perfectly blending convenience and practicality.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jul 14, 2025 | Sold | ||
| Sold | |||
| Jun 15, 2025 | In contract | - | |
| In contract | |||
| Jun 12, 2025 | Listed by COLDWELL BANKER SKY RIDGE REALTY | $925,000 | |
| Listed by COLDWELL BANKER SKY RIDGE REALTY | |||
| Feb 19, 2025 | Listed | $1,195,000 | |
| Listed | |||
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European Château-Inspired Retreat Overlooking the Lake Arrowhead Country Club
Tucked away on a peaceful cul-de-sac and gracefully perched above the 8th green of the Arrowhead Country Club, this enchanting European château-inspired home blends classic elegance with effortless comfort. Offering 5 bedrooms, 3 baths, and 2,847 square feet of inviting living space, this home is designed for those who appreciate stunning views, timeless architecture, and an open, airy ambiance.
Inside, vaulted ceilings and an expansive open floor plan create a sense of grandeur, while a striking floor-to-ceiling Brick fireplace serves as the heart of the home, adding warmth and character to the main living area. Walls of windows showcase breathtaking golf course views, seamlessly connecting the indoors with the natural beauty beyond.
With 11,387 square feet of beautifully landscaped grounds, the outdoor spaces invite relaxation and entertaining, whether you're enjoying a quiet morning on the patio or watching the sunset over the fairways. A dedicated golf cart garage with direct access to the course ensures easy enjoyment of country club living.
A rare find in an unbeatable location, this home offers a perfect balance of charm, tranquility, and effortless elegance.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017