Palm Beverly Apartments | 432 N Palm Dr
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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
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $20,950,000 | Apartment Style | Mid Rise |
| Price Per Unit | $581,944 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.36 AC |
| Cap Rate | 3.72% | Building Size | 44,482 SF |
| Sale Conditions | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 18.8 | No. Stories | 5 |
| No. Units | 36 | Year Built/Renovated | 1962/2020 |
| Property Type | Multifamily | Parking Ratio | 1.03/1,000 SF |
| Property Subtype | Apartment |
| Price | $20,950,000 |
| Price Per Unit | $581,944 |
| Sale Type | Investment |
| Cap Rate | 3.72% |
| Sale Conditions | 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 (85)
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 |
PROPERTY TAXES
Parcel Number
4342-034-002
Land Assessment
$6,698,953 (2024)
Improvements Assessment
$6,698,953 (2024)
Total Assessment
$13,397,906 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | R4, Beverly Hills (Five Or More Units Or Apartments) |
| R4, Beverly Hills (Five Or More Units Or Apartments) |
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Palm Beverly Apartments | 432 N Palm Dr
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