19
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$3,500,000
Est. payment /mo
12 Beds
7 Baths
7,599 SqFt
New
9430 Gregory WAY Beverly Hills, CA 90212
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 7,599 sqft
Price per Sqft $460
MLS Listing ID 26105841
Bedrooms 12
HOA Y/N No
Year Built 1949
Lot Size 7,287 Sqft
Property Description
Offered for the first time in nearly five decades! This is a rare chance to acquire a six-unit multifamily asset in the City of Beverly Hills, one of the most prestigious and supply-constrained rental markets in Southern California. The property sits at Gregory Way and South Reeves Drive, between Wilshire and Olympic Boulevards, one block from South Beverly Drive's boutique shops, cafes and restaurants. Rodeo Drive and the Golden Triangle are within walking distance, and Century City and Pico-Robertson are minutes away. The same family has held 9430 Gregory Way since the 1970s. It is fully occupied, with in-place rents well below market. In-place rents are about $17,635 per month against pro forma market rents of $25,500, which is more than 40% of rental upside as units turn over and are brought up to modern standards. An investor gets stable income on day one and substantial long-term upside at an irreplaceable Beverly Hills address.The property has an excellent unit mix of (1) One-Bedroom/One-Bathroom unit,(2) Two-Bedroom/One-Bathroom units, (2) Two-Bedroom/One-and-a-Half-Bathroom units, and (1) Three-Bedroom/Two-Bathroom unit. It offers about 7,599 square feet of building area on a 7,283-square-foot R4-zoned lot, and the units average more than 1,200 square feet. Floor plans of that size are increasingly hard to nd in the Beverly Hills rental market. With a Walk Score of 94, the property puts the restaurants, cafs, shopping and neighborhood amenities of South Beverly Drive and the Golden Triangle right outside the front door. Residents also enjoy the Beverly Hills Unified School District, are close to Cedars-Sinai Medical Center, and have easy access to Century City's employment base and the Metro D Line extension along Wilshire Boulevard. Ownership has already invested in the building with a new roof, and the units are separately metered for gas and electric. With a completed SB 721 balcony inspection and seismic gas shut-off valves installed at every unit, 9430 Gregory Way is ready for its next owner. Opportunities that combine generous oor plans, recent capital improvements and meaningful rental upside in the City of Beverly Hills are exceedingly rare. This is a chance for a discerning investor to secure a long-term hold at one of the most desirable residential addresses in Los Angeles.
Location
State CA
County Los Angeles
Area C01 - Beverly Hills
Zoning BHR4*
Interior
Heating None
Cooling None
Fireplace No
Exterior
Parking Features Driveway Down Slope From Street
Building
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4331004001
Special Listing Condition Standard
Listed by Michael Monempour Lyon Stahl Investment Real Estate, Inc. #01996829
NEARBY SCHOOL & BUSINESS
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