Six-Unit Apartment
For Sale
$3,595,000
447 S Palm Dr, Beverly Hills, CA 90212
Built in 1954, this six-unit multifamily property offers a mix of one-, two-, and a private-deck three-bedroom unit.
Property Size6,756 SF
Lot Size0.14 Acres
Price / SF$532.12
Days on Market64
Property Features for 447 S Palm Dr
General Information
Standard status
Active
Size
6,756 SF
Lot size
0.14 Acres
Property subtype
Multifamily
Additional Details
Cap Rate
3.91%
Highway Access
Yes
Multifamily Units
6
Amenities
Attractive Assumable Financing at 3% Interest Only! Fixed Till Nov 2031
Unit mix consisting of two (2) 1+1, three (3) 2+2, and one (1) 3+2 unit with private deck
Three Bedroom Unit to be delivered vacant for an excellent owner/user opportunity
Approximately 6,756 square feet of rentable area situated on a 6,078 square foot lot
Prime location within close proximity to world-class retail and dining along Rodeo Drive and Wilshire Boulevard
Building Details
Building Size
6,756 SF
Year Built
1954
Units
6
Listing Agency:
Marcus & Millichap - Los Angeles
Listed By:
Michael Sterman · License #License(s): CA: 01911703
(818) 212-2784
Source:
Marcusmillichap
Added: Jul 3
Changed: Aug 8
Last Checked: Sep 4 at 2:32AM
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.
447 S Palm Dr is a six-unit apartment property built in 1954. The unit mix includes two one-bedroom/one-bath units, three two-bedroom/two-bath units, and one three-bedroom/two-bath unit with a private deck. The three-bedroom unit will be delivered vacant.
The property is located in the Beverly Hills submarket with immediate access to retail and dining along Rodeo Drive and Wilshire Boulevard. It also provides convenient connectivity to Century City and West Hollywood, with access to the I-10 and I-405 freeways.
As presented for sale, this is a six-unit residential income property well suited for ownership with an available unit for an owner-user scenario or for repositioning within the existing mix.
The property is located in the Beverly Hills submarket with immediate access to retail and dining along Rodeo Drive and Wilshire Boulevard. It also provides convenient connectivity to Century City and West Hollywood, with access to the I-10 and I-405 freeways.
As presented for sale, this is a six-unit residential income property well suited for ownership with an available unit for an owner-user scenario or for repositioning within the existing mix.
Key Highlights
- 6‑unit apartment property built in 1954 with approximately 6,756 rentable SF on an approximately 6,078 SF lot
- Unit mix: two 1BD/1BA, three 2BD/2BA, and one 3BD/2BA unit with a private deck
- 3‑bedroom unit will be delivered vacant, offering an owner‑user setup
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
$108,709
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
3.02%
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%
$2,174,180
$2.2M
Cap Rate 7%
$1,552,986
$1.6M
Cap Rate 9%
$1,207,878
$1.2M
Market Conditions
NOI Build-Up for 6,756 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
$214.8K $31.80/SF
− Vacancy
−$17.2K −$2.54/SF
EGI
$197.7K $29.26/SF
− OpEx
−$88.9K −$13.17/SF
NOI
$108.7K $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%
$2,174,180
Cap Rate 7%
$1,552,986
Cap Rate 9%
$1,207,878
Alternative Uses
Best Use
Apartment 5plus
$1.55M
$1.36M – $1.81M
NOI $108,709 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.62M
$3.17M – $4.22M
NOI $253,200 @ 7.0% cap · market cap 7.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
8,484
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 - Built in 1954, this six-unit multifamily property offers a mix of one-, two-, and a private-deck three-bedroom unit.
Where is this apartment building located?
The property is located at 447 S Palm Dr Beverly Hills, CA.
What is the asking price?
The asking price for this property is $3,595,000.
What are key features of this property?
This property features: 6‑unit apartment property built in 1954 with approximately 6,756 rentable SF on an approximately 6,078 SF lot; Unit mix: two 1BD/1BA, three 2BD/2BA, and one 3BD/2BA unit with a private deck; 3‑bedroom unit will be delivered vacant, offering an owner‑user setup
