Investment Overview

Marcus & Millichap is pleased to present 332 S. Doheny Drive, Beverly Hills, CA, an extremely rare development opportunity situated on a 5,620 SF lot. The existing structure is a vacant ~1,584 SF single-family residence with a detached rear garage. The offering renders a rare development opportunity on an exceptional 5,620 SF infill site located on prestigious Doheny Drive, in the heart of one of Southern California’s most desirable residential markets. § Flexible Multifamily Development Potential – Zoned BHR4YY (R-4), offering a range of development options, including the ability to utilize California’s State Density Bonus Program. § The property boasts a convenient walkability, with close proximity to Rodeo Drive, Century City, and Beverly Center, along with an abundance of restaurants, cafes, shopping, and services. § The approximately 0.129-acre (5,620 SF) lot benefits from rear alley access, adding valuable flexibility for site planning, parking, and overall project design. § The property is fully entitled with approved plans for a 9-unit, 5-story multifamily building featuring rooftop amenities, with approvals secured through both the Beverly Hills Planning Commission and Architectural Commission. § A buyer pursuing the existing project would inherit a complete pre-development package, including full architectural, structural, and MEP plan sets, geotechnical clearance, a CEQA exemption, and a recorded density bonus covenant, representing significant time and capital savings from day one. § The site also qualifies for ministerial small lot subdivision under SB 1123, offering a streamlined path to three fee-simple luxury townhomes without discretionary review. § Beverly Hills remains one of the most desirable and competitive rental markets in Los Angeles. Combined with the high barrier to entry for comparable development sites, this represents a compelling opportunity for creative investors seeking premier locations to build.