211-214 Hamilton DrBeverly Hills, CA 90211

Property Details for 211-214 Hamilton Dr

Year built

1949

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional multifamily investment opportunity presents two Class A apartment units located at 211-214 S Hamilton Dr, Beverly Hills, CA 90211, within Los Angeles County. Offered at $14,000,000, this property boasts a compelling 5.00% cap rate. Originally constructed in 1949 and extensively renovated in 2020, the building currently comprises two units, each valued at $7,000,000. An application for a significant expansion is currently under review by the City of Beverly Hills. The application proposes a 14-story building with 210 units, including 20% designated as affordable housing. This application is considered grandfathered under previous city regulations. While not guaranteed, the city shows a positive inclination towards approving a remedy project. Under current zoning codes, the property allows for 24 units by right, with an additional 50% bonus density permitted, potentially increasing the total to 36 units. This presents a unique opportunity to capitalize on the potential for substantial growth and development in a highly desirable Beverly Hills location. The property's prime location and existing infrastructure provide a solid foundation for a lucrative investment. This is a rare chance to acquire a property with significant upside potential in one of the most exclusive areas of Southern California.

Location Insight

City

Beverly Hills

County

Los Angeles

State

California

Latitude

34.0639

Longitude

-118.375

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