401 Shirley Place 401 Shirley Pl 22 Unit Apartment Building $9,500,000 ($431,818/Unit) 3.98% Cap Rate Beverly Hills, CA 90212

*$500K PRICE REDUCTION!
Arbor Realty Capital Advisors is pleased to present the exclusive listing of the Shirley Place Apartments, a luxury twenty-two (22) unit apartment building, located at 401 Shirley Place in Beverly Hills, California. The offering is situated in the world renown City of Beverly Hills, on the southwest corner of Shirley Place and Olympic Boulevard, and East of Century Park East. The location is rated as “Very Walkable”, with an above average Walk Score of 79/100 and is nestled between the highly rated Beverly Hills High School, Roxbury Memorial Park, with over 11 acres of green space, four tennis courts, basketball courts, two lawn bowling greens and children's playgrounds and the Westfield Century City Mall, which features a 1.3 million square foot outdoor shopping mall with over 200 stores. This unique offering, once home to Hollywood icons like Shirley Temple and Clark Gable, resides on the same block as many multi-million dollar, Beverly Hills homes. This is one of the most coveted neighborhoods in Southern California, with everything from luxury five-star hotels, designer brand shopping, an Michelin star dining options, are within a short walking distance from Shirley Place.
Built in 1941, this elegant California Regency style, three-story building has an incredible street presence and boasts approximately 22,157 square feet and sits on a 13,745 square foot corner lot, zoned BHR4YY.
This distinctive building has an inviting lushly landscaped brick center courtyard and features a very strong unit mix consisting of four (5) bachelor units, six (6) studios, that are ideal for the young professional, two (2) 1 bed / 1 bath, seven (8) spacious 2 bed / 2 bath (majority with formal dining rooms) and two (1) 3 bed / 2 bath. Rare for the vintage, + the property has 14 subterranean parking spots and one additional parking spot outside. This architecturally significant building has a perfect blend with the character and charm of a golden era mixed with tasteful modern upgrades.
Amenities include hardwood floors, crown moldings, new windows, air conditioning units, quartz countertops, custom tile work, entryways. recessed lighting, an abundance of closet space, and formal The Shirley Place Apartments will appeal to any experienced investor or family office looking for a generational opportunity in an A+ location, that is turn-key and yet has significant income upside potential of +/-53%. Additionally, there is unutilized space that can be monetized through creating storage spaces and/or one or more ADU's. Furthermore, one can add value and take advantage of the Mills Act with the benefit of paying lower property taxes.