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Adelon Apartments 152 S Peck Dr 31 Unit Apartment Building $14,000,000 ($451,613/Unit) 4.40% Cap Rate Beverly Hills, CA 90212
Investment Highlights
- Significant (34%) upside in rents
- Value-Add: approved plans with permits to convert the storage rooms to an 800± S.F. ADU with a potential rent of $3,500/mo
- 6.5% cap and 11.1 x gross with rents at market
Executive Summary
Prime Beverly Hills location one bock from Saks Fifth Avenue, Neiman Marcus, Beverly Wilshire, and Four Seasons Hotel. Walking distance to the shops and restaurants in the famous Beverly Hills Golden Triangle. Attractive Property with a grand lobby. Property was completely renovated with new plumbing, kitchens, and bathrooms. Value-Add: approved plans with permits to convert the storage rooms to an 800± S.F. ADU with a potential rent of $3,500/mo. Significant (34%) upside in rents. 6.5% cap and 11.1 x gross with rents at market
Property Facts
| Price | $14,000,000 | Apartment Style | Low-Rise |
| Price Per Unit | $451,613 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.22 AC |
| Cap Rate | 4.40% | Building Size | 18,456 SF |
| Gross Rent Multiplier | 14.9 | Average Occupancy | 100% |
| No. Units | 31 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1929 |
| Property Subtype | Apartment | Parking Ratio | 0.22/1,000 SF |
| Zoning | R4, Beverly Hills - Multiple Dwelling R3 Uses, Churches, Schools, Childcare, Homeless Shelter | ||
| Price | $14,000,000 |
| Price Per Unit | $451,613 |
| Sale Type | Investment |
| Cap Rate | 4.40% |
| Gross Rent Multiplier | 14.9 |
| No. Units | 31 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 18,456 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1929 |
| Parking Ratio | 0.22/1,000 SF |
| Zoning | R4, Beverly Hills - Multiple Dwelling R3 Uses, Churches, Schools, Childcare, Homeless Shelter |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Range
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | - | 300 - 350 |
| 1+1 | 12 | - | 425 - 550 |
| 1+1 | 9 | - | 560 - 700 |
| 2+1 | 4 | - | 1,000 |
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Very walkable
80/100
Fairly drivable
50/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 4328-026-020 | Improvements Assessment | $1,567,718 |
| Land Assessment | $3,997,705 | Total Assessment | $5,565,423 |
Property Taxes
Parcel Number
4328-026-020
Land Assessment
$3,997,705
Improvements Assessment
$1,567,718
Total Assessment
$5,565,423
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Adelon Apartments | 152 S Peck Dr
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