Multifamily Property with Rooftop
149-159 S Maple Dr & 9225 Charleville Boulevard Beverly Hills, CA 90212
149-159 S Maple Dr & 9225 Charleville Boulevard, Beverly Hills, CA, 90212
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For Sale
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Three-building apartment complex delivered vacant at close of escrow, with approved plans for recreation and rooftop sundeck pool.
Property Size63,514 SF
Price / SF$203.89
Days on Market140
Property Features for 149-159 S Maple Dr & 9225 Charleville Boulevard
General Information
- Standard status
- Active
- Size
- 63,514 SF
- Property subtype
- Multifamily
Listing agency
Marcus & Millichap - Los Angeles
(310) 909-5454
Listed by
Tony Azzi · License #00910513
Source
Crexi
Added: Mar 5 Updated: Jul 22 at 8:08PM Checked: Jul 22 at 8:08PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Los Angeles
Investment Insights
Based on property information with market context.
This multifamily property includes three apartment buildings totaling 13 units, with all units removed from the rental market via Ellis Act filings and delivered vacant at the close of escrow. The approved building design calls for an attractive unit mix with an average unit size of 1,331 square feet. Common area amenities are planned to include a recreation room and a rooftop sundeck with a swimming pool.
A reentitlement pathway is available to increase the property to up to 39 units through AB 1287 density bonus. The property is described as offering immediate access to top Class-A office employment centers and convenience to major employment hubs including Century City, West Hollywood, Culver City, and Mid-Wilshire.
A reentitlement pathway is available to increase the property to up to 39 units through AB 1287 density bonus. The property is described as offering immediate access to top Class-A office employment centers and convenience to major employment hubs including Century City, West Hollywood, Culver City, and Mid-Wilshire.
Key Highlights
- Approved building design includes a unit mix with an average unit size of 1,331 SF
- Existing improvements: three apartment buildings totaling 13 units, delivered vacant at close of escrow
- Common amenities planned: recreation room and rooftop sundeck with swimming pool
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $2.02M | $31.80 |
| − Vacancy | −$161.6k | −$2.54 |
| EGI | $1.86M | $29.26 |
| − OpEx | −$836.2k | −$13.17 |
| NOI | $1.02M | $16.09 |
63,514 SF · lease $31.80/SF/yr · vacancy 8.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$14.60M
$12.77M – $17.03M
NOI $1,021,991 @ 7.0% cap · market cap 7.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$34.01M
$29.75M – $39.67M
NOI $2,380,360 @ 7.0% cap · market cap 18.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Three-building apartment complex delivered vacant at close of escrow, with approved plans for recreation and rooftop sundeck pool.
Where is this apartment building located?
The property is located at 149-159 S Maple Dr & 9225 Charleville Boulevard Beverly Hills, CA.
What is the asking price?
The asking price for this property is $12,950,000.
What are key features of this property?
This property features: Approved building design includes a unit mix with an average unit size of 1,331 SF; Existing improvements: three apartment buildings totaling 13 units, delivered vacant at close of escrow; Common amenities planned: recreation room and rooftop sundeck with swimming pool
