405 Shirley PL new Save Request In-Person Tour Request Virtual Tour
Beverly Hills,CA 90212
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 13,122 sqft
Price per Sqft $533
MLS Listing ID 25544177
Bedrooms 21
Year Built 1948
Lot Size 0.318 Acres
Property Description
Century Park Realty, Inc. is proud to present this pride-of-ownership 11-unit apartment complex located in prime Beverly Hills, across from Beverly Hills High School and at the gateway to Century City. 405 Shirley Place is a 13,122 SF building situated on a 0.32-acre lot, consisting of ten (10) spacious two-bedroom, two-bathroom units (averaging almost 1,200 SF) and one fully renovated standalone studio. The building features classic Beverly Hills charm with a leafy brick-gated courtyard, original crown moldings in units, and timeless architectural details with modern updates.This offering presents a compelling value-add opportunity, with a proven value add business plan already in motion. Five of the eleven units have been partially or fully updated as tenants naturally moved out over the year and those renovated units have achieved significantly higher rents (up to 95% rental premium through interior renovation), clearly demonstrating the potential to increase income across the board. A new owner can execute the same or similar renovation strategy to increase net operating income (NOI) by +/- 40% a clear path to increased cash flow and long-term value creation.Additional Opportunity to Acquire Adjacent Parcel(s)
Location
State CA
County Los Angeles
Area C01 - Beverly Hills
Zoning BHR4YY
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Laundry Common Area,Laundry Room
Exterior
Parking Features Covered,Detached Carport
Garage Spaces 3.0
Garage Description 3.0
Building
Story 2
New Construction No
Others
Special Listing Condition Standard