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233 S Gale Dr

3 Unit Apartment Building $3,361,296 CAD ($1,120,432 CAD/Unit) 3.08% Cap Rate Beverly Hills, CA 90211

Investment Highlights

  • Unique Property with Historic Charm and Modern Amenities: Built in 1947 with a distinctive French Normandy-style design
  • Newly re?nished hardwood ?oors upgraded kitchen ?ooring, newly installed alarm system, covered parking, and in-unit laundry
  • High Rental Demand and Luxury Market: Located in a sought-after area known for its luxury real estate and high rental demand.
  • Well-Maintained and Upgraded Units: 3-bed, 2-bed & 1-bed. con?gurations.
  • Prime Beverly Hills Location: Close proximity to La Cienega Park, Rodeo Drive, The Grove, Beverly Center, and West Hollywood.

Executive Summary

Price Adjustment | The Appel Group of Marcus & Millichap is pleased to present the exclusive listing of 233 South Gale Drive. Built in 1947, this French Normandy-style triplex offers a unique blend of historic charm and modern amenities. The property consists of three distinct units, totaling 3,964 rentable square feet on a 5,841 square foot lot.
The triplex features a three-bedroom, two-bathroom unit, a two-bedroom, one-bathroom unit, and a one-bedroom, one-bathroom unit. The three-bedroom unit occupies the entire top ?oor, offering expansive living space with abundant natural light. It features original tilework in the kitchen and bathrooms, two separate entrances, and in-unit laundry, contributing to its attractiveness. The property maintains its historic charm with features like crown moldings, faux fireplaces, and vintage ceramic tiles while incorporating modern upgrades.
The two-bedroom unit is front-facing, providing plenty of natural light, and boasts restored hardwood flooring, vintage crown molding, and 1940s ceramic tile. This unit also has access to a front garden, covered parking, and private entrance, enhancing its appeal to potential tenants. The one-bedroom unit benefits from newly refinished hardwood floors, upgraded kitchen flooring, and new window coverings. It also includes a newly installed alarm system and in-unit laundry facilities, making it a comfortable and modern living space.
The Beverly Hills location adds signifcant value, as the area is known for its luxury real estate and high rental demand. The mix of unit sizes and attractive features positions this triplex as a strong candidate for generating stable rental income. The blend of classic style and contemporary upgrades makes 233 South Gale Drive a standout property in the competitive rental market of Beverly Hills.
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.

Property Facts

Price $3,361,296 CAD
Price Per Unit $1,120,432 CAD
Sale Type Investment
Cap Rate 3.08%
Gross Rent Multiplier 19.87
No. Units 3
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.13 AC
Building Size 3,964 SF
No. Stories 2
Year Built 1947
Parking Ratio 0.76/1,000 SF

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
1+1 1 - -
2+1 1 - -
3+2 1 - -
Walk Score ®
Walker's Paradise (93)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

zoning

Zoning Code BHR475
BHR475
  • Listing ID: 33140955

  • Date on Market: 2024-09-11

  • Last Updated:

  • Address: 233 S Gale Dr, Beverly Hills, CA 90211

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