Villa Las Peñas, South Shore, Puerto Vallarta Real Estate. The architectural signature in this four bedroom waterfront villa stands apart from its peers.  All living spaces captivate ones eyes with the view of los arcos, all seemingly in reaching distance. The light filled generous spaces are all decorated with colorful elements that make one aware of the relaxing vacation residence this is. Complete with garage and caretakers apartment, up to date with federal maritime zone concessions.