432 Palm DrBeverly Hills, CA 90210
- Residential income properties
- 44,482 SF
Property Details for 432 Palm Dr
- Year built
- 1962
- Construction
- WOOD
- Lot size
- 0.37 AC
- Property size (Sq ft)
- 44,482 SF
- Zone code
- BHR4*
- Property type
- Residential income properties
- Property subtype
- Other 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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $16,014,208
- 6.5%
- $14,782,346
- 7%
- $13,726,464
-
Comparable approach
- Method
- Valuation
- Relative Method
- $13,110,981
- Geo Method
- $13,110,981
-
Alternative Use
- Use
- Valuation
- Residential
- $14,782,346
- Hospitality
- $13,540,549
- Educational
- $11,265,578
- Medical
- $11,653,018
- Retail
- $17,524,232
Location Insight
- City
- Beverly Hills
- County
- Los Angeles
- State
- California
- Latitude
- 34.078
- Longitude
- -118.392
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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