214 S Hamilton Drive, Beverly Hills, California 90211

$8,500,000

Bedrooms

0

Bathrooms

0

Square Feet

0 sqft

City

Beverly Hills

Status

Active

We are proud to present a rare, entitled high-density development opportunity located at 214 & 216 S Hamilton Drive, Beverly Hills, CA 90211. Positioned immediately south of Wilshire Boulevard and two doors from the historic Saban Theatre, this 10,400 square foot site offers developers the unprecedented opportunity to deliver a best-in-class mixed-income residential project with 36,281 SF of Livable SF in one of the most supply-constrained and desirable multifamily markets in the greater Los Angeles area, with one of the most exclusive addresses around. The property has been entitled utilizing the state Housing Accountability Act Builder's Remedy provisions, securing approvals for an 8-story, 90-unit multifamily development consisting entirely of stacked highly efficient studio units. With 72 market-rate studios, the remaining 20% of the units will be dedicated for affordable tenants. All units will feature balconies and washer/dryer closets. Designed by Ottinger Architects, the project features a modern urban infill concept with an activated ground floor that includes a spacious Lobby, dedicated Office, Package Room and a sizable Community Room totaling 2,293 SF. The design will take advantage of the unique height of the structure with a sprawling 1,887-square-foot rooftop deck that will have expansive views. This shared amenity space enhances the overall resident experience and aligns with current market expectations for lifestyle-driven multifamily products. The plans include a total gross building area of 73,490 square feet, consisting of 63,717 square feet of at and above-grade gross area and 9,773 square feet of subterranean parking area, accommodating 13 parking spaces. With the Builder's Remedy approval in place, this offering provides a rare opportunity to bypass the arduous entitlement process in Beverly Hills, a municipality where securing discretionary approvals is notoriously difficult and housing supply is severely restricted. The property benefits from exceptional connectivity, boasting a Walker's Paradise designation by WalkScore. The property will also benefit from the just-opened Subway Metro Station just 700 feet away! This unparalleled transit proximity already provides access to Hollywood and Downtown Los Angeles, and will soon offer tremendous access to additional major employment hubs like Century City and Santa Monica in the Westside! Combined with its Beverly Hills address, historic surroundings, and already-entitled status, this project represents an exceptional opportunity to deliver high-density housing in a premier infill setting an opportunity that will have lasting effects on the community at large while creating trophy investment that can become your next generational asset! Listing includes two APNs: 4333-029-021 & 4333-029-022.