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Multifamily

163 N Clark Dr

163 N Clark Dr, Beverly Hills, CA 90211

Listing Price: $3,605,000

Cap Rate
2.77%
Number of Units
8
GRM
20.05
Occupancy
97.0%
Price/Unit
$450,625
Price/Gross SF
$715.28
Gross SF
5,040

Investment Overview

Millichap is pleased to present the exclusive listing of 163 and 169 North Clark Drive. Built in 1930, a prestigious two-building multifamily portfolio boasting a total of 12 units, with an added bonus of Ready-To-Issue (RTI) permits for 3 one-bedroom, one-bathroom ADUs (Accessory Dwelling Units) and 1 studio ADU. Situated in one of the most coveted neighborhoods in the world, this portfolio combines classic elegance with the promise of lucrative returns.

Comprising a great unit mix, with 4 spacious two-bedroom, one-bathroom units, 4 cozy one-bedroom, one-bathroom units, and 4 chic studio apartments, tenants are offered a range of living options. In addition to the existing units, the inclusion of RTI permits for ADUs presents an exciting opportunity for expansion and increased rental income. These additional units offer versatility and flexibility, allowing investors to capitalize on the high demand for luxury housing in Beverly Hills. Other income includes utility bill-back, garage and laundry.

From a financial perspective, this portfolio offers a compelling proposition. With strong demand for premium rental properties in Beverly Hills, investors can expect a steady stream of rental income from the existing units. Furthermore, the addition of ADUs presents the potential for increased cash flow and enhanced property value over time.

Ideally located in the unique quiet neighborhood off Clifton Way 1 block west of Robertson Boulevard, 1 block north of Wilshire Boulevard, and 2 blocks south of Burton Way.

The property's proximity to renowned attractions such as Rodeo Drive, Beverly Gardens Park, Greystone Mansion and Park, and the Wallis Annenberg Center for the Performing Arts enhances its appeal to existing and potential tenants, ensuring a competitive edge in the rental market. Furthermore, the area is surrounded by world-class dining options, offering investors an added advantage in attracting high-quality tenants. Notable restaurants nearby include Spago, Mastro's Steakhouse, Il Pastaio, The Ivy, and Nobu Beverly Hills.

Seize the opportunity to own a piece of Beverly Hills real estate and unlock the full potential of this exceptional investment.

Investment Highlights

  • Good Unit-Mix: Includes 12 units spread across two buildings, offering various options from spacious two-bedroom to cozy studios.
  • Expansion Potential: RTI's for additional units, providing an opportunity for increased rental income.
  • Multiple Income Sources: Additional income from garage rentals, and laundry facilities.
  • Convenient Amenities: Features like in-unit laundry, upgraded floors and kitchens and on-site parking.
  • Beautiful Sought-After Beverly Hills Location: Close to famous landmarks and dining options.
  • Long-Term Value: Location ensures potential for long-term property value appreciation.

Exclusively Listed By

Financing By

Multifamily

163 N Clark Dr

Listing Price: $3,605,000

Cap Rate
2.77%
Number of Units
8
GRM
20.05
Occupancy
97.0%
Price/Unit
$450,625
Price/Gross SF
$715.28
Gross SF
5,040

Investment Highlights

  • Good Unit-Mix: Includes 12 units spread across two buildings, offering various options from spacious two-bedroom to cozy studios.
  • Expansion Potential: RTI's for additional units, providing an opportunity for increased rental income.
  • Multiple Income Sources: Additional income from garage rentals, and laundry facilities.
  • Convenient Amenities: Features like in-unit laundry, upgraded floors and kitchens and on-site parking.
  • Beautiful Sought-After Beverly Hills Location: Close to famous landmarks and dining options.
  • Long-Term Value: Location ensures potential for long-term property value appreciation.

Investment Overview

Millichap is pleased to present the exclusive listing of 163 and 169 North Clark Drive. Built in 1930, a prestigious two-building multifamily portfolio boasting a total of 12 units, with an added bonus of Ready-To-Issue (RTI) permits for 3 one-bedroom, one-bathroom ADUs (Accessory Dwelling Units) and 1 studio ADU. Situated in one of the most coveted neighborhoods in the world, this portfolio combines classic elegance with the promise of lucrative returns. Comprising a great unit mix, with 4 spacious two-bedroom, one-bathroom units, 4 cozy one-bedroom, one-bathroom units, and 4 chic studio apartments, tenants are offered a range of living options. In addition to the existing units, the inclusion of RTI permits for ADUs presents an exciting opportunity for expansion and increased rental income. These additional units offer versatility and flexibility, allowing investors to capitalize on the high demand for luxury housing in Beverly Hills. Other income includes utility bill-back, garage and laundry. From a financial perspective, this portfolio offers a compelling proposition. With strong demand for premium rental properties in Beverly Hills, investors can expect a steady stream of rental income from the existing units. Furthermore, the addition of ADUs presents the potential for increased cash flow and enhanced property value over time. Ideally located in the unique quiet neighborhood off Clifton Way 1 block west of Robertson Boulevard, 1 block north of Wilshire Boulevard, and 2 blocks south of Burton Way. The property's proximity to renowned attractions such as Rodeo Drive, Beverly Gardens Park, Greystone Mansion and Park, and the Wallis Annenberg Center for the Performing Arts enhances its appeal to existing and potential tenants, ensuring a competitive edge in the rental market. Furthermore, the area is surrounded by world-class dining options, offering investors an added advantage in attracting high-quality tenants. Notable restaurants nearby include Spago, Mastro's Steakhouse, Il Pastaio, The Ivy, and Nobu Beverly Hills. Seize the opportunity to own a piece of Beverly Hills real estate and unlock the full potential of this exceptional investment.

Exclusively Listed By

Financing By

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