$2,410,000
$2,645,000
8.9%For more information regarding the value of a property, please contact us for a free consultation.
6 Beds
4 Baths
4,089 SqFt
SOLD DATE : 06/21/2024
Key Details
Sold Price $2,410,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 4,089 sqft
Price per Sqft $589
MLS Listing ID 24375109
Sold Date 06/21/24
Bedrooms 6
HOA Y/N No
Year Built 1933
Lot Size 6,490 Sqft
Property Description
Price Adjustment $50,000. We are pleased to present the exclusive listing of 159 North Arnaz Drive. Built in 1933, a beautiful well-maintained duplex located in prime Beverly Hills. Comprised of two spacious three-bedroom, two-bathroom units, with a total 4,089 rentable square feet sitting on a 6,489 square foot lot. The property boasts beautiful period charm with archways, crown moldings and the original aqua & black Art Deco tile in the primary bathrooms, enhancing its aesthetic appeal and attracting tenants who appreciate classic architecture. These architectural details add a touch of elegance and sophistication to the property, potentially commanding higher rental rates. The front of the property has beautiful xeriscaping providing minimal maintenance and significantly lower utility expenses. Featuring replaces, modern kitchen amenities and in unit laundry facilities provide convenience and added value for tenants. Beautiful hardwood floors add warmth and character to the units while also offering durability and easy maintenance Each unit comes with 2-car garage parking, one of which has a new garage door opener, adding secure and convenient parking options for tenants. The upper unit front and back stairs have been renovated as well as plumbing in the guest bathrooms for each unit. The upper unit has a den above the driveway. From a financial perspective, this property offers a compelling proposition. The property's spacious three-bedroom units, period charm, and modern amenities make it highly desirable among renters, commanding premium rental rates or a wonderful opportunity for an owner/user. With strong demand for premium rental properties in Beverly Hills, investors can expect a steady stream of rental income. Beverly Hills is known for its high demand for quality housing, reducing the risk of vacancies and ensuring a steady income stream for investors. In addition to the appealing features, there are opportunities for value-add initiatives such as cosmetic upgrades, landscaping improvements, and adding amenities to further enhance the property's value and rental income potential. Located on Arnaz Dr, a street with a historic designation in the unique quiet neighborhood off Clifton Way 1 block east of Robertson Boulevard, 1 block north of Wilshire Boulevard. in the unique quiet neighborhood off Clifton Way 1 block east of Robertson Boulevard, 1 block north of Wilshire Boulevard. 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. Buyer to verify information independently and with listing broker.
Location
State CA
County Los Angeles
Area C01 - Beverly Hills
Zoning BHR4YY
Interior
Heating Forced Air
Flooring Wood
Fireplace No
Exterior
Garage Covered, Driveway
Garage Spaces 4.0
Garage Description 4.0
Total Parking Spaces 4
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4334008032
Special Listing Condition Standard
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Bought with Eliyahu Appel • Marcus & Millichap