432 Palm Dr Beverly Hills, CA 90210-3977

Property Details for 432 Palm Dr

Year built

1962

Construction

WOOD

Lot size

0.37 lot acres

Property size

44,482 SF

Zone code

BHR4*

Property type

Apartment buildings

APN

4342-034-002

APU

4342034002

Description

This exceptional investment opportunity presents a meticulously maintained, 36-unit apartment building located at 432 N Palm Dr, Beverly Hills, CA 90210. The property boasts a total of 44,482 square feet, offering a compelling price per square foot of $515.94. Built in 1963 and extensively renovated between 2000 and 2024, this five-story building sits on a desirable R4 zoned lot. Currently operating at 100% occupancy (as of October 20, 2024), the property generates a strong net operating income (NOI) of $780,000, resulting in a 3.40% cap rate. The asking price is $22,950,000, translating to $637,500 per unit. Each unit enjoys ample space and the benefit of 1.3 parking spaces. Building amenities include controlled access, gated parking, a swimming pool, and a rooftop sundeck featuring two penthouse units with panoramic city views. This stabilized investment offers significant upside potential through rental increases. The property is owned as a California limited partnership. This is a rare opportunity to acquire a trophy asset in a prime Beverly Hills location.