132 S. Spalding dr, Beverly Hills, CA 90212
Active
$17,000,000
23 Units
44 Beds
39 Baths
30,662 Area(sq.ft.)
Lot: 24,497 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 4 | 3.50 | No | $ 4,900 | $ 4,900 | $ 9,050 |
| Unit 2 | 1 | 3 | 3.50 | No | $ 4,120 | $ 4,120 | $ 9,050 |
| Unit 3 | 2 | 3 | 2.50 | No | $ 4,640 | $ 9,280 | $ 12,150 |
| Unit 4 | 2 | 3 | 2 | No | $ 3,600 | $ 7,200 | $ 12,800 |
| Unit 5 | 4 | 2 | 2 | No | $ 4,504 | $ 18,015 | $ 19,700 |
| 10 | 27 | 26 | $ 43,516 | $ 114,040 | $ 146,800 |
| MLS #: | 25529289 |
| Days On Market: | 288 |
| Listing Date: | April 23, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 554 |
| Price per unit: | $ 739,130 |
| Year Built: | 1937 |
Property Details
We are truly proud to present a rare, generational multifamily investment and/or redevelopment opportunity at 132 and 144 South Spalding Drive, nestled in the prestigious heart of Beverly Hills. These two adjacent properties, each with their own APN, are ideally located on one of the most coveted streets in all of Los Angeles, offering discerning investors multiple pathways to capitalize on some of the highest rental demand in the city. Situated on over half an acre along along a beautiful, tree-lined setting, each building boasts an exceptional unit mix with expansive floor plans drenched in natural light. 132 S Spalding Drive is comprised of 19 units, featuring an outstanding blend of mostly three-bedroom, two-bedroom, and one-bedroom apartments arranged around a charming central courtyard and meticulously landscaped grounds. Many units retain classic design details such as original hardwood floors, crown moldings, fireplaces, spacious kitchens and baths, and large bay windows. A rare amenity for its vintage, the building also includes a subterranean garage with ample assigned parking. 144 S Spalding Drive, a beautifully maintained 1936 fourplex, offers an equally attractive mix of units, including one-, two-, and three-bedroom layouts. The building echoes the architectural charm of its neighbor, with many of the same timeless features and thoughtful design elements. With multiple vacancies across both properties, investors are presented with a prime value-add opportunity. Immediate upside can be captured by renovating the units, common areas, and infrastructureunlocking significant rental potential while preserving the historic character of the buildings. For developers, an enticing option exists to redevelop 144 S Spalding Drive from a four-unit structure into a seven-unit building, seamlessly integrating it with the existing 132 S Spalding property to create a 26-unit boutique luxury community. This thoughtful expansion would create an accessible connection between both properties, while delivering elevated living spaces with top-tier amenities, including a lobby/reception, an on-site pool (buyer to verify) and additional parking, maximizing long-term value and appeal. Alternatively, the combined site may support a full ground-up redevelopment of up to 44 units (Buyer to verify), making this offering a once-in-a- generation opportunity in one of the most exclusive submarkets in the world. Beverly Hills remains a global symbol of luxury, lifestyle, and enduring real estate value. Just steps from iconic Rodeo Drive, the Spalding properties enjoy unparalleled walkability and access to world-class shopping, five-star dining, cultural landmarks, and thriving business districts. The forthcoming One Beverly Hills mega-development will further enhance the area's prestige, introducing new luxury residences, premium retail, and state-of-the-art office space. A short drive connects residents to Century City's booming commercial core, the vibrant Sunset Strip's entertainment scene, and the coastal beauty of Santa Monica Beach. Simply put, this location offers unmatched connectivity, prestige, and long-term value in a market that continues to outperform. This offering truly combines timeless Beverly Hills charm with scalable development upside ideal for investors seeking long-term value, luxury appeal, and an unbeatable location.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Vacancy Rate: | 43% |
| Gross Operating Income: | $ 970,148 |
| Total Annual Expense: | $ 364,817 |
| Net Operating Income: | $ 576,269 |
| Gross Annual Income: | $ 968,760 |
| Gross Rent Multiplier: | 17.52 |
Structure
| Type of Units: | 23 |
| Buildings: | 2 |
| Levels: | Multi/Split, One |
Land & Parking
| Zoning: | BHR4YY |
| Parking Garage: | Subterranean, Carport, Side By Side |
| Total Parking: | 31 |
Interior
| AC/Cooling: | Other |
| Equipment: | Other |
| Heating: | Other |
| Laundry: | In Unit, Community |
Exterior
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