Listed by Marcus & Millichap - Los Angeles
$12,950,000
149-159 S Maple Dr & 9225 Charleville Boulevard
Details
APN 4331-013-011, -012, -013
Property Type Multifamily
Sub Type Apartment Building
Square Footage 63,514
Units 37
Price per SqFt $711
Lot Size (SqFt) 18,210
Zoning R-4 Multifamily Residential
Parking Spaces 72 spaces
Parking Per SqFt 1.13
Multifamily | 37 Units | $350,000/unit
Marketing description
The approved building design features an attractive unit mix with an average unit size of 1,331 square feet. Common area amenities will include a recreation room and rooftop sundeck with a swimming pool. The property can be reentitled for up to 39 units through AB 1287 density bonus.
Existing improvements include three apartment buildings totaling 13-units that will be delivered vacant at the close of escrow. All units have been removed from the rental market via Ellis Act filings.
Not only are the Beverly Hills income and education demographics outstanding, but the Property provides immediate access to top Class-A office employment centers and is convenient to other key employment hubs such as Century City, West Hollywood, Culver City and Mid-Wilshire
Investment highlights
- Build 37 Ultra High-End Luxury Units in Beverly Hills The site is already fully entitled for 29 luxury rental units with design by highly regarded SPF: architects. Option to put a condo map on the property if desired. Existing improvements will be delivered vacant
- New Entitlement Plans Submitted to Build 37 Luxury Units New plans utilizing stacked density bonus under AB 1287 to build 37 luxury apartment units have been submitted to the City of Beverly Hills.
- Prime Development Opportunity in Beverly Hills Developer has rare opportunity to build high-end apartments or condos in Beverly Hills
- Excellent Land Value The land is attractively priced at $12.95 million. Generational opportunity to buy three adjacent lots for residential development in the heart of Beverly Hills.
- Beverly Hills Multifamily Submarket Rents and per-unit sale prices in Beverly Hills consistently outperform those in the greater Los Angeles metro. The submarket is driven by location, prestige, and constrained supply. Investor demand remains exceptionally strong
- Strong Multifamily Demand Drivers Beverly Hills continues to face a new housing need, particularly for high-end multifamily units.
- Superlative Beverly Hills Location Steps from the Golden Triangle and South Beverly Drive. Offers unmatched access to retail, dining, and amenities. A walkable, globally recognized neighborhood.
- Excellent Public School System Served by the top-rated Beverly Hills Unified School District. Highly sought after and resident-exclusive. Adds long-term appeal for families and investors.
- Outstanding Income Demographics Projected 2028 average household income: $186,513. Reflects strong earning power in the area. Supports premium rents and luxury demand.
Listing Contacts
Listed by Marcus & Millichap - Los Angeles
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