Glenville Triplex

TBDPrime Net Lease is pleased to exclusively offer for sale 1123 Glenville Drive, a distinctive three-unit multifamily property located in the highly desirable Beverlywood area of Los Angeles, immediately adjacent to Beverly Hills and minutes from Century City. The property features three oversized two-bedroom, one-and-a-half-bath townhome-style residences, each comprising approximately 1,343 square feet, for approximately 4,029 square feet of total residential space. The spacious two-story layouts provide a residential feel rarely found in traditional apartment properties, with generous living areas, formal dining spaces, abundant natural light and substantial storage throughout. The residences have been thoughtfully updated while retaining the property's original character and charm. Features found throughout the property include hardwood flooring, updated kitchens, stainless-steel appliances, built-in cabinetry, generous closet space, in-unit laundry or washer/dryer accommodations, private outdoor areas and garage parking. Select residences feature additional amenities including central air conditioning and heating, Nest thermostats, private patios, bedroom balconies and updated bathrooms. Beyond the individual residences, the gated property features landscaped common outdoor areas accented by mature landscaping, bougainvillea, roses and a decorative fountain, creating an attractive residential setting with enhanced privacy. The investment also offers meaningful value-add potential, with current rents totaling approximately $10,880 per month compared with estimated market rents of approximately $14,100 per month, representing approximately 29% potential rental upside based on current underwriting. Additionally, the property's ±6,077-square-foot LAR3-zoned parcel provides a compelling long-term redevelopment component. Based on the underlying R3 density standard, the site may accommodate up to seven residential units, compared with the three existing residences, subject to applicable zoning regulations, development standards and City approval. With its combination of oversized townhome-style residences, private outdoor space, garage parking, gated grounds, rental upside, LAR3 zoning and premier West Los Angeles location, 1123 Glenville Drive offers investors multiple avenues for long-term value creation.