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215 Elm Drive
Beverly Hills, CA 90212
Sold
As exclusive advisors, we are pleased to present 215 South Elm Drive, an 8-Unit apartment building built in 1932 and located in the heart of Beverly Hills. This charming Beverly Hills architectural asset features a two-story center hall layout with Eight (8) One Bedroom & One Bathroom apartment homes. These high-demand, well-proportioned interiors have historically facilitated high resident retention and low vacancy rates. For the incoming Buyer, the offering presents an exceptional long term opportunity to achieve market rents and a long-term value proposition though improved operations, unit attrition and interior updates. A recent neighborhood rental survey of One Bed / One Bath units shows nearby properties capture very strong rents of approx. $3,000 per month vs. the average of $2,243 per month at 215 South Elm Drive. It is estimated that there is long-term rental upside estimated at 20-25%, leaving plenty room to create a meaningful return on investment. The building amenities include secured entry, center hallway layout, common area laundry, and carport parking for 5 vehicles. Utilities are separately metered for gas and electrical. THE INTERIOR UNITS215 South Elm Drive features Eight (8) spacious One-Bedroom units pf approx. +/- 700 square feet and featuring a myriad of classic vintage finishes along with modern upgrades. In the recent past, all eight apartment homes have been nicely renovated most feature NEW kitchens and NEW Baths with wood flooring, 3-panel doors, arched ceilings, ornate fixtures, large closets with mirrored doors, and a substantial appliance package with a dishwasher, refrigerator, stove and microwave. Each of the eight units has been extensively remodeled COMMON AREAS & BUILDING AMENITIESThe common areas are replete with classic original wood flooring, 1930's hardware, arched molding, ornate iron work, large skylights, antique lighting, common area laundry, and central boiler. Utilities are separately metered for gas & electrical. Covered carport parking is provided for 5 vehicles and is situated in the rear of the property, accessible through the alleyway that runs from Gregory Way and Charleville Blvd. Contact listing agents for complete offering memorandum.
PROPERTY INFORMATION
| MLS # | 23308581 | Lot Size | 6,071 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 3,650,000
Price Per SqFt: $ 611 |
DOM | 605 Days |
| Address | 215 Elm Drive | Type | Residential Income |
| City | Beverly Hills | Sq.Ft. | 5,969 Sq. Ft. |
| Postal Code | 90212 | Garage | N/A |
| County | Los Angeles | Year Built | 1932 |
| Bed / Bath | 8 / 0 | Parking | 5 |
| Built In | 1932 | Status | Closed |
| Sold Date | 2023-11-29 |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | Community |
| Has Appliances | Yes |
| Kitchen Appliances | Dishwasher, Disposal |
| Has Heating | Yes |
| Heating Information | Wall Furnace |
| InteriorFeatures Information | Ceiling Fan(s) |
EXTERIOR FEATURES
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $3,893
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 09/14/2023 | Listed | $3,650,000 |
Topfind Realty
REALTOR®
(844)-333-8033
Questions? Contact today.
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Listing provided courtesy of Adam Zunder, Iconic Investments. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
