414 N Palm Dr
- 14.2 x Gross & 4.7% Cap with rents at market
- Significant (31%) upside in rents
- 2,500± S.F. Penthouse unit located on the 4th Floor suitable for owner use will be delivered vacant
- Trophy Property with large 1/1 (1,200± S.F.) & 2/2 (1,500± S.F.)
Property Description
Prime Beverly Hills location, N. of Burton Way. Trophy Property with large 1/1 (1,200 S.F.) & 2/2 (1,500 S.F.). 2,500 S.F. Penthouse unit located on the 4th Floor suitable for owner use will be delivered vacant. Significant (31%) upside in rents. 14.2 x Gross & 4.7% Cap with rents at market. Seller has spent over $247,000 in renovation in the past year.
Key Property Information
| Listing Status: | Available |
|---|---|
| Price: | $7,750,000 |
| No. of Units: | 10 |
| Cap Rate: | 3.2% |
| GRM /GIM: | 18.7 |
| Year Built: | 1962 |
| Building Size: | 17,050 Sq ft |
| Lot Size: | 7,702.00 Sq ft |
| No. of Stories: | 3 |
| APN: | 4342-001-009 |
| Opportunity Zone: | No |
| Price per unit: | $775,000 |
Unit mix
| Description | No. of Units | Sq ft. | Avg. Monthly Rent |
|---|---|---|---|
| 1/1 | 3 | 1200 | 1596 |
| 2/2 | 6 | 1500 | 3523 |
| 2/2 | 1 | 2500 | 6500 |
FINANCIAL DETAILS
| Income/expense info: | Actual |
|---|---|
| Financial year: | 2023 |
| Gross income: | 414196 |
| Effective Gross income: | 401770 |
| Operating expenses: | 156640 |
| Net operating income: | 245130 |
Additional contacts
| Full name | Phone number | Email address |
|---|---|---|
| Jared Battat | 310-432-5769 | [email protected] |
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