Luxury Exemption Duplex in Prime Beverlywood 1232 Smithwood Dr 2 Unit Apartment Building $1,849,000 ($924,500/Unit) 2.37% Cap Rate Los Angeles, CA 90035

1232 Smithwood Drive is a rare duplex opportunity offered at $1,849,000 in the heart of Beverlywood, steps from Beverly Hills. BOTH UNITS ARE OCCUPIED. Located on a quiet, tree-lined street, the property features two spacious 2-bedroom, 1-bath units with functional layouts including separate living rooms, dining rooms, and in-unit washer and dryer setups. Interiors are largely in original condition, presenting a clear value-add opportunity. The property qualifies for the Los Angeles luxury rent exemption, allowing annual increases of 5% plus CPI, and is ideal for both investors and owner-users. A buyer can occupy one unit while generating income from the other to offset mortgage costs. The oversized lot offers strong ADU potential, providing additional upside and long-term value. The property has also been well maintained, with a new roof and partial copper plumbing upgrades completed over the years. Positioned just steps from Beverly Hills and close to Beverly Drive, Robertson Boulevard, and Pico Boulevard, the property offers excellent walkability and access to top dining, shopping, and entertainment. Duplex opportunities in this pocket rarely trade, driven by limited supply and strong demand for Beverly Hills adjacent living. With owner-user appeal, ADU upside, and a premier Westside location, 1232 Smithwood Drive is a standout long-term investment opportunity.