224 S Gale Dr - Apartments FOR SALE


Beverly Hills, CA 90211
$2,395,000 USD
818-390-4181
224 S Gale Dr, Beverly Hills, CA for Sale
$2,395,000 USD
Apartments - FOR SALE
1/20
null | 2.63% Cap Rate

224 S Gale Dr
Beverly Hills, CA 90211


HIGHLIGHTS

  • Situated 2 blocks east of La Cienega Boulevard and 1 block south of Wilshire Boulevard, this property offers easy access to iconic locations
  • Strong Rental Demand: Beverly Hills is a high-demand area for luxury rental properties
  • The owner covers the costs of water, trash, and gardening, which should be considered when evaluating operating expenses.
  • Potential for Rent Growth: The vacant 2+1 unit offers immediate leasing potential, w/ rent increases expected given the property’s location & features
  • Held by the same family for decades
  • Long-Term Appreciation Potential: Given Beverly Hills' reputation as a premier residential area, the property is well-positioned

OVERVIEW

The Appel Group of Marcus & Millichap is pleased to present the exclusive listing of 224 South Gale Drive. Built in 1926, this property consists of four distinct units, totaling 3,447 rentable square feet on a 6,496 square foot lot. 224 S. Gale Dr. in Beverly Hills, CA, is an attractive four-unit apartment building in a highly sought-after location. The property consists of two 2-bedroom/1-bathroom units, one of which is vacant, and two 1-bedroom/1-bathroom units. The building features four parking spots in the rear, window unit air conditioners, wall heaters, refinished hardwood floors and bright, airy living rooms with plenty of natural light and windows in every room, adding to its appeal. The owner is responsible for paying water, trash, and gardener expenses, which should be factored into the overall operating costs. The Beverly Hills location adds significant value, as the area is known for its luxury real estate and high rental demand. Ideally located 2 blocks east of La Cienega Boulevard, and 1 block south of Wilshire Boulevard. The property is steps away from La Cienega Park, and minutes from Rodeo Drive, The Grove, the Beverly Center, and West Hollywood. Beverly Hills provides a blend of high-end dining, luxury shopping such as Spago Beverly Hills, Mastro's Steakhouse, The Bazaar by José Andrés and Nobu Beverly Hills. This sought-after area is synonymous with high-end living, featuring a blend of historic charm and modern sophistication. Residents can also explore a range of cultural attractions including the historic Saban Theater, the Beverly Hills Hotel, the Greystone Mansion, the Getty Center, the Hollywood Bowl and Museum Row on the Miracle Mile which includes Los Angeles County Museum of Art (LACMA), La Brea Tar Pits, The Petersen Automotive Museum and the Academy Museum of Motion Pictures. The property benefits from excellent connectivity to major roads, including Santa Monica Boulevard and Wilshire Boulevard, as well as easy access to the 405 and 10 Freeways.

FOR SALE DETAILS

PRICE

$2,395,000 USD

PRICE/SF

$447 USD /SF

# OF UNITS

4

PRICE/UNIT

$598,750

CAP RATE

2.63%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1926

PARKING SPACES

4

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

4333-030-038

ASK ABOUT THIS PROPERTY

Eli AppelMarcus & MillichapMore Info
818-390-4181

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Eli AppelMarcus & MillichapMore Info
818-390-4181

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.