9955 Durant Dr
Beverly Hills, CA 90212
9955 Durant · Multifamily Property For Sale · 20 Units

Located on a tree-lined, pedestrian-friendly street in the City of Beverly Hills and adjacent to the world famous Rodeo Drive and Golden Triangle, 9955 Durant features 20 apartment homes averaging 1,681 square feet. Condo-level finishes are included throughout: wood plank-style flooring, squared-edge quartz countertops, wood cabinetry, stainless steel appliances, wine coolers and in-unit washer dryers. At the top of 9955 Durant is a stunning 2,170sf penthouse with a large private outdoor rooftop garden with views of the city. RARE OPPORTUNITY TO ACQUIRE • 1 of only 10 Class ‘A’ apartment buildings in the City of Beverly Hills (5+ units) • 100% occupied • Fully remodeled and modernized building in 2014 All of the units have been turned over and leased at post-remodel rents, thereby limiting any impact caused by the City of Beverly Hills’ recent rental restrictions. Future annual rent growth is bright as (1) City of Beverly Hills rent control has a high protected floor of no less than 3.0% annual rent growth, with a 2018/2019 4.1% annual rent growth allowed, and (2) market rents are below comparable apartment rents with substantial room for future increases. Zero additional Class ‘A’ apartments in Beverly Hills are under construction or in the development pipeline. Furthermore, the future redevelopment and renovation of existing, older buildings is unlikely to be replicated due to the same rental restrictions recently approved by the City.