Active
$2,195,000
8%
4 Units
6 Beds
4 Baths
3,447 Area(sq.ft.)
Lot: 6,498 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 2 | 1 | 1 | No | $ 1,726 | $ 3,452 | $ 4,790 |
| Unit 2 | 1 | 2 | 1 | No | $ 2,308 | $ 2,308 | $ 3,625 |
| Unit 3 | 1 | 2 | 1 | No | $ 3,625 | $ 3,625 | $ 3,625 |
| 4 | 6 | 4 | $ 9,385 | $ 12,837 | $ 16,830 |
| MLS #: | 25491455 |
| Days On Market: | 333 |
| Listing Date: | January 6, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 637 |
| Price per unit: | $ 548,750 |
| Year Built: | 1926 |
Property Details
We are pleased to present the exclusive listing of a charming four-unit apartment building located at 224 S. Gale Drive in Beverly Hills, an exceptional opportunity to own in one of Los Angeles' most prestigious neighborhoods. Built in 1926 and owned by the same family for generations, this rare offering includes two separate duplexes on a 6,496 SF lot, totaling 3,447 rentable square feet. The unit mix consists of two 2-bedroom/1-bathroom units one of which is a vacant, ground-floor unit with minimal steps, ideal for an owner-user and two 1-bedroom/1-bathroom units. Priced under $2.2 million, this is a truly rare chance to own a Beverly Hills fourplex in a prime location steps from La Cienega Park, two blocks east of La Cienega Boulevard, and one block south of Wilshire Boulevard. The building features four parking spaces in the rear, a completed soft-story retrofit, window A/C units, wall heaters, refinished hardwood floors, and bright, airy living spaces with windows in every room. With one unit vacant, this is a perfect scenario to live in one unit and collect rental income from the other three. Residents enjoy unbeatable access to world-class amenities including Rodeo Drive, The Grove, The Beverly Center, and West Hollywood, as well as premier dining options like Spago, Mastro's, The Bazaar by Jos Andrs, and Nobu Beverly Hills. Cultural attractions such as the Saban Theater, Greystone Mansion, The Beverly Hills Hotel, the Getty Center, and Museum Rowhome to LACMA, La Brea Tar Pits, the Petersen Museum, and the Academy Museum are all just minutes away. With strong rental demand, timeless charm, and excellent connectivity via Santa Monica Boulevard, Wilshire, and the 405 and 10 Freeways, this is a unique investment with enduring appeal in the heart of Beverly Hills.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Vacancy Rate: | 2% |
| Gross Operating Income: | $ 109,236 |
| Total Annual Expense: | $ 42,580 |
| Net Operating Income: | $ 6,655 |
| Gross Annual Income: | $ 109,236 |
| Cap Rate: | 3.04% |
| Gross Rent Multiplier: | 19.86 |
Structure
| Type of Units: | Multifamily |
| Buildings: | 2 |
| Levels: | Two |
Land & Parking
| Zoning: | BHR475 |
| Parking Garage: | Assigned |
Interior
| AC/Cooling: | Window Unit(s) |
| Equipment: | None |
| Heating: | Forced Air |
Exterior
Detailed Map
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