Multifamily Property with Rooftop
For Sale
Contact for pricing
Pending
149-159 S Maple Dr & 9225 Charleville Boulevard, Beverly Hills, CA 90212
Three-building apartment complex delivered vacant at close of escrow, with approved plans for recreation and rooftop sundeck pool.
Property Size63,514 SF
Days on Market186
Property Features for 149-159 S Maple Dr & 9225 Charleville Boulevard
General Information
Standard status
Pending
Size
63,514 SF
Total Parking Spaces
72
Property subtype
Multifamily
Zoning
R-4 Multifamily Residential
Additional Details
Multifamily Units
13
Amenities
recreation room
rooftop sundeck
swimming pool
Building Details
Units
37
Listing Agency:
Marcus & Millichap - Los Angeles
Listed By:
Tony Azzi · License #00910513
(310) 909-5454
Source:
Crexi
Added: Mar 5
Changed: Sep 5
Last Checked: Sep 4 at 6:17PM
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
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$1,021,991
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.89%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$20,439,820
$20.4M
Cap Rate 7%
$14,599,871
$14.6M
Cap Rate 9%
$11,355,456
$11.4M
Market Conditions
NOI Build-Up for 63,514 SF
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.
Gross rent
$2.02M $31.80/SF
− Vacancy
−$161.6K −$2.54/SF
EGI
$1.86M $29.26/SF
− OpEx
−$836.2K −$13.17/SF
NOI
$1.02M $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$20,439,820
Cap Rate 7%
$14,599,871
Cap Rate 9%
$11,355,456
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 authorities.
Property Analytics
Current Use
Lease Details
13
Residential units
Location Intelligence
Trade Area within ½ mile
9,510
Businesses Nearby
Explore this area
Business Placement
Demographics for 90212, CA
11,451
Population
6,107
Households
1.9
Avg Household Size
43
Median Age
74%
College-Educated
98%
High-School Grad
0.9 sq mi
ZIP Area
12,723
Density / Sq Mi
$116,238
Median Household Income
$70,031
Median Earnings
$2,764
Median Rent
$2,000,001
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
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
