Palm Beverly Apartments 432 N Palm Dr 36 Unit Apartment Building $20,950,000 ($581,944/Unit) 3.72% Cap Rate Beverly Hills, CA 90210
INVESTMENT HIGHLIGHTS
- Northernmost & best apartment area of Beverly Hills 90210.
- Property features swimming pool & rooftop sundeck.
EXECUTIVE SUMMARY
FOR SALE BY OWNER!
Rare opportunity to purchase this large trophy property in northernmost (best) apartment area of Beverly Hills.
Even rarer opportunity to purchase it together with Owner’s other apartment building in Beverly Hills, 24 units for $19,450 – total 60 apartments in 85,460 sq. ft. for $40,400,000. (See 24-unit listing elsewhere on this site.)
This 36 units has:
Controlled access, gated parking and very large apartments
Significant upside in rents
Two rooftop penthouse units with panoramic city view
Swimming pool and rooftop sundeck
Rare opportunity to purchase this large trophy property in northernmost (best) apartment area of Beverly Hills.
Even rarer opportunity to purchase it together with Owner’s other apartment building in Beverly Hills, 24 units for $19,450 – total 60 apartments in 85,460 sq. ft. for $40,400,000. (See 24-unit listing elsewhere on this site.)
This 36 units has:
Controlled access, gated parking and very large apartments
Significant upside in rents
Two rooftop penthouse units with panoramic city view
Swimming pool and rooftop sundeck
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS
| Price | $20,950,000 |
| Price Per Unit | $581,944 |
| Sale Type | Investment |
| Cap Rate | 3.72% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 18.8 |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.36 AC |
| Building Size | 44,482 SF |
| Average Occupancy | 100% |
| No. Stories | 5 |
| Year Built/Renovated | 1962/2020 |
| Parking Ratio | 1.03/1,000 SF |
AMENITIES
- Ventilation - Venting
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Storage Space
- Tile Floors
- Crown Molding
- Granite Countertops
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Den
- Dining Room
- Intercom
- Patio
- Smoke Free
- Vinyl Flooring
- Window Coverings
SITE AMENITIES
- Controlled Access
- Laundry Facilities
- Pool
- Property Manager on Site
- Security System
- Video Patrol
- Disposal Chutes
- Smoke Free
- Storage Space
- Elevator
- Sundeck
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 22 | $3,245 | 885 - 1,208 |
| 1+1.5 | 12 | $3,345 | 1,015 - 1,250 |
| 2+1.5 | 1 | $3,495 | 1,077 |
| 3+2 | 1 | $4,495 | 1,700 |
Walk Score®
Very Walkable (84)
PROPERTY TAXES
| Parcel Number | 4342-034-002 | Total Assessment | $13,397,906 (2024) |
| Land Assessment | $6,698,953 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $6,698,953 (2024) | Tax Year | 2023 |
ZONING
| Zoning Code | R4, Beverly Hills (Five Or More Units Or Apartments) |
