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29-Unit Beverly Hills Development Site

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Address: 149 S Maple Dr, Beverly Hills, CA 90212, USA

California & West + Land/Development

Created date: July 15, 2024

Date last updated: October 10, 2024

Fully Entitled Multifamily Development Site in the Heart of Beverly Hills
Delivered Entitled to Build 29 Luxury Units
- Either Condominium or RentalExisting Improvements Delivered Vacant
  Potential to re-entitle for up to 39 units
  
  through AB 1287 density bonus
Beverly Hills Multifamily Submarket
- Rents and Per-Unit Sale PricesSignificantly Outperform those of
  Los Angeles Metro
Strong Multifamily Demand Drivers
- New Housing Need – Beverly Hills CondominiumsSold May 2023-May 2024 and Currently Active
  On-Market Median Year Built: 1990
Superlative Location Proximate to the Beverly HillsGolden Triangle and South Beverly Drive
93 Walk Score® “A Walker’s Paradise”
Excellent Public School System:
- Beverly Hills Unified School District is one of the toppublic school districts in the country; highly sought
  after and exclusively for residents
Superb Education Demographics:
- 73.1% of the Population, Aged 25 and Over have aBachelor’s, Graduate, or Other Professional Degree
Outstanding Income Demographics:
- 2028 Projected Average Household Income: $186,513

Property Description

CBRE, as exclusive agent, is pleased to present the opportunity to acquire Maple & Charleville, a multifamily development site fully entitled to build 29 luxury units in the heart of Beverly Hills, California. 149-159 S. Maple Drive & 9225 Charleville Boulevard, offers a superlative location in one of the world’s most recognizable cities: • Proximity to the famed Beverly Hills Golden Triangle and Rodeo Drive. • An abundance of shops and cafés along South Beverly Drive. • The Property boasts a WalkScore of 93 out of 100 – a “Walker’s Paradise.” • Highly acclaimed gourmet restaurants. • Destination five-star hotels. The approved building design features an attractive unit mix with an average unit size of 1,670 square feet. Common area amenities will include a recreation room and rooftop sundeck with a swimming pool. The property can be re-entitled for up to 39 units through AB 1287 density bonus. Existing improvements include three apartment buildings totaling 13-units that will be delivered vacant at the close of escrow. All units will have been removed from the rental market via Ellis Act filings. Not only are the Beverly Hills income and education demographics outstanding, but the Property provides immediate access to a top Class-A office employment center and is convenient to other key employment hubs such as Century City, West Hollywood, Culver City and Mid-Wilshire. Maple & Charleville offers a discerning developer the opportunity to build the next luxury multifamily project with a premier Beverly Hills address.