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9948 Robbins Dr

4 Unit Block of Flats £3,376,529 (£844,132/Unit) 3.68% Net Initial Yield Beverly Hills, CA 90212

Investment Highlights

  • Prime Beverly Hills Location
  • 30.3% upside in rents, 50.3% upside in rents with ADU
  • All units equipped with HVAC
  • Potential to build 1 to 2 ADUs
  • Seismic retrofit done in 2015
  • Garaged parking

Executive Summary

True North CRE of Compass Commercial is proud to present an exceptional investment opportunity: 9948 Robbins Dr., a meticulously maintained four-unit multifamily property located in the heart of Beverly Hills.
The property includes two 1,500 SF 2-bed/1-bath units, one 1,500 SF 2-bed/1.5-bath unit, and one 1,600 SF 3-bed/1.5-bath unit. Amenities
feature decorative fireplaces, separate showers and tubs, pedestal sinks outside the primary bedrooms, full kitchens with appliances, and individual laundry rooms with washer/dryer hookups. The top units have high ceilings with intricate original moldings; one includes a balcony. All units provide on-site garaged parking with electric doors, upgraded electrical systems, HVAC, plumbing upgrades including copper and PVC piping, and back entrances to a shared patio with drought-tolerant landscaping. Recent improvements include updates to the roof (portions resealed/recoated as recommended) in 2024, a voluntary seismic retrofit completed in 2015, and the building has recently passed the mandated balcony inspections. There is also potential to convert the garages into 1-2 ADUs to boost revenue. Tenants cover electric, gas, and a portion of trash services, with potential for the new owner to shift full trash costs to tenants.
Nestled on a quiet, tree-lined street, this property boasts an unbeatable location in the heart of Beverly Hills. Just a short walk from Century City, Rodeo Drive, Beverly Hills High School, and convenient public transportation options, it provides tenants easy access to both the 405
and 10 freeways. Positioned in a highly desirable rental market, this asset holds tremendous long-term value. Residents will enjoy proximity to world-class dining, luxury shopping, and premier entertainment.

Financial Summary (Actual - 2023)

Annual Annual Per SF
Gross Rental Income £176,319 £28.94
Other Income £2,041 £0.34
Vacancy Loss - -
Effective Gross Income £178,360 £29.27
Taxes £40,181 £6.59
Operating Expenses £14,086 £2.31
Total Expenses £54,267 £8.91
Net Operating Income £124,094 £20.37

Financial Summary (Actual - 2023)

Gross Rental Income
Annual £176,319
Annual Per SF £28.94
Other Income
Annual £2,041
Annual Per SF £0.34
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual £178,360
Annual Per SF £29.27
Taxes
Annual £40,181
Annual Per SF £6.59
Operating Expenses
Annual £14,086
Annual Per SF £2.31
Total Expenses
Annual £54,267
Annual Per SF £8.91
Net Operating Income
Annual £124,094
Annual Per SF £20.37

Property Facts

Price £3,376,529
Price Per Unit £844,132
Sale Type Investment
Net Initial Yield 3.68%
Gross Rent Multiplier 12.74
No. Units 4
Property Type Residential
Property Subtype Apartment
Building Class C
Lot Size 0.16 AC
Building Size 6,093 SF
Average Occupancy 100%
Number of Floors 2
Year Built 1929
Parking Ratio 0.82/1,000 SF

Unit Amenities

  • Washer/Dryer Hookup
  • Tub/Shower

Site Amenities

  • Courtyard

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
3+1.5 1 £4,401 1,600
2+1.5 1 £3,442 1,500
2+1 2 £3,425 1,500
Walk Score ®
Very Walkable (86)
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.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
4328-005-005
Land Assessment
£360,971 (2024)
Improvements Assessment
£150,089 (2024)
Total Assessment
£511,059 (2024)
Annual Taxes
£40,181 (£6.59/sf)
Tax Year
2023

zoning

Zoning Code BHR4YY (BHR4YY)
BHR4YY (BHR4YY)
  • Listing ID: 33626595

  • Date on Market: 24/10/2024

  • Last Updated:

  • Address: 9948 Robbins Dr, Beverly Hills, CA 90212

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