232 S Tower Dr, Beverly Hills, CA 90211

Property Description

First time on the market in 30+ years! 232 South Tower Drive is an 8 unit “French Chateau” multi-family property located on a great tree lined street in Beverly Hills. It’s an excellent location with a Walk Score rating of 88, providing a short walk to La Cienega Park and countless shopping and dining options along Wilshire Blvd and La Cienaga Blvd. Also nearby are The Grove, Los Angeles County Museum of Art (LACMA) and The Original Farmer’s Market. 
 
 232 South Tower Drive has a great unit mix consisting of 2 – 2 Bedrooms/1 Bathroom, 5 – 1 Bedroom/1 Bathroom & 1 – Studio. The units are spacious and average just under 1,000 square feet each. Current rents are low relative to those of surrounding properties and there is significant upside (subject to the Beverly Hills Chapter 6 rent control ~ 3.01% increase for 2019, new rate to be set June 2020.) Architectural details have been preserved throughout the entire property and two units have updated kitchens. All units are in good condition and there is no known deferred maintenance. There is an onsite laundry facility and ample parking in the rear of the property (6 carports & 1 open space) in addition to off street parking by permit. All of the units are separately metered for gas and electricity. 
 
 232 South Tower Drive is a great opportunity that will be appealing to an array of buyers including an owner/user, investor or anyone in a 1031 exchange looking for a well located asset in good condition.