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215 S Elm Dr, Beverly Hills, CA 90212
$3,150,000
215 S Elm Dr, Beverly Hills, CA 90212View this property at 215 S Elm Dr, Beverly Hills, CA 90212
215 S Elm DrBeverly HillsCA90212
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Property Description
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.
Full Property Details
Full Property Details for 215 S Elm Dr
General
- Sold For: $3,150,000
- Status: Closed
- Type: Multi-Family
- MLS ID: 23-308581
- Added to Site: 235 day(s) ago
Rooms
Bathrooms
- Total Bathrooms: 8
Bedrooms
- Total Bedrooms: 8
Other Rooms
- Laundry: Community
Additional Information
- Other Features: Other
Parking
- Garage Description: Carport Detached
Location
- Area: Beverly Hills
- County: Los Angeles
- Driving Directions: Just south of the Golden Triangle. Walking distance to Wilshire and Beverly Drive. Premier Beverly hills location.
Heating & Cooling
- Cooling Type: Wall Unit(s)
- Heating Type: Wall
Structural Information
- # Buildings: 1
- Stories/Levels: 2
- Square Feet: 5,969
- Sq. Ft. Source: Vendor Enhanced
- Year Built: 1932
- Year Built Source: Vendor Enhanced
Unit Information
- Units in Complex: 8
- Unit Type: 2106
Unit 1
- Total Bathrooms: 1
- Bedrooms: 1
Additional Structures
- Other Structures: Other
Lot Features
- Lot Size (Acres): 0.1394
- Lot Size: 6071
- Lot Size Source: Vendor Enhanced
- Zoning: BHR4YY
Financial Considerations
- Price Per Sq. Ft.: $611.49
- Assessment Year: 1932
Disclosures and Reports
- Disclosures/Reports: None
- APN: 4331-009-004
Listed and Sold by Iconic Investments, Adam Zunder and KW Commercial Studio City, Rich Johns
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Schools
Schools serving 215 S Elm Dr
School District:Beverly Hills Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
200 S Elm Dr, Beverly Hills, CA 90212 | K-8 | 0.1 mi | |
241 S Moreno Dr, Beverly Hills, CA 90212 | 9-12 | 1 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 215 S Elm Dr
Date
Details
Price
Change
Source
11/29/2023
Sold
$3,150,000
-13.7%
MLS
9/06/2023
Listed
$3,650,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
215 S Elm Dr, Beverly Hills, CA 90212 (MLS# 23-308581) is a Multi-Family property that was sold at $3,150,000 on November 29, 2023. Want to learn more about 215 S Elm Dr? Do you have questions about finding other Multi-Family real estate for sale in Beverly Hills? You can browse all Beverly Hills real estate or contact a Coldwell Banker agent to request more information.