401 South Rodeo Drive, Beverly Hills
6 Unit Apartment Building | 6,638 SF Building on 6,600SF Lot Zoned BHR4
Current CAP 3.14% and Pro Forma CAP 4.50% | Current GRM 19.02 and Pro Forma GRM 14.88
Offered at $3,750,000
BUILDING INFO
*FANTASTIC CORNER LOCATION. GREAT UPSIDE!
*Beverly Hills school district – close to schools and beautiful Roxbury Park
*Corner location surrounded by single family homes
*Perfect location convenient to Century City mall & Downtown Beverly Hills
*Quick access to West Hollywood, Century City and Rancho Park
*6 large units averaging 1,100+ SF
*Amenities include fireplaces, balconies/patios, garages
401 S Rodeo is a well-maintained building, located on the corner of South Rodeo Drive and Olympic Blvd. The building has significant rental upside.
Located in one of the most sought-after apartment markets in the country, 401 South Rodeo Drive is also close to the Beverly Hills business district - one of the most coveted commercial real estate sub-markets in the country, and a prime area for office space, high-end retail, restaurant and entertainment establishments. It’s close distance to the hot and bustling corridor of South Beverly Drive.
The property is situated just outside the Beverly Hills Triangle where demand for rental housing is consistently high and vacancies low, which has helped keep rental rents for space at a stable premium throughout the pandemic. The property benefits from its close proximity to a vibrant retail area as well as to premier dining establishments and luxury hotels. The building’s preeminent location makes it an incredible investment opportunity.
Acquisition opportunities for quality multi-family assets in Beverly Hills are rare. In addition, the high barriers to entry in Beverly Hills - a result of limited land available for development, challenging regulatory approvals, an anti-growth populace and strict government restrictions - limit the addition of many new multi-family products in the area.
The area’s exceptionally strong leasing fundamentals, healthy occupancy levels, an unrivaled amenity base and elastic rental rates ensure that the Beverly Hills submarket will come out of the Covid environment strong and will continue to be one of the most coveted multi-family markets in the nation. 401 South Rodeo Drive is well positioned to benefit from these factors and offers an investor the security of an exceptionally well located asset in a prime, supply constrained multi-family market with historically high rents and low vacancy.