SoldBroker Activity · Entry № 58

I Think I Found My Next Apartment Market.

I toured one building in Beverly Hills expecting to analyze a sale. I left thinking this might be where I want to own apartments next.

PublishedJune 30, 2026
StatusSold · Apr 25, 2026
DatelineThe Tape · Beverly Hills, Los Angeles
313 S Reeves Dr hero photo
FIG. 01, 313 S Reeves Dr, Beverly Hills, CA 90212. Listing photo via MLS #26645413.
Four takeawaysFour things an operator takes away from 313 S Reeves Dr
  1. This Sale Changed My Thinking About Beverly Hills Apartments.  I toured the building expecting to analyze someone overpaying for a building. I left thinking Beverly Hills may be one of the best places in Los Angeles to own luxury apartments.  Especially after speaking to one of the tenants.
  2. This Isn't a Typical Apartment Building. It Was Built as Condominiums.Every unit has its own APN and a recorded condo map, giving the buyer future potential to sell these as condo's.
  3. Luxury Beverly Hills Condos Sell for Over $1,000/SF.  This Building Sold for $592/SF.  That's a huge gap and it helps explain why this sale may be more attractive than it first appears when you look at GRM and cap rate.
  4. I Can't Build This Building for $13.2 Million Today.  My rough math puts the land and construction alone at $13.7M. Once you add financing, soft costs, and three years of carrying the project, I'd expect my all-in basis to be well north of $17 million.
Deal Stats · 313 S Reeves Dr
Sale Price
$13,200,000
closed Apr 25, 2026
List Price
$14,250,000
$1.05M bid-ask spread
Units
10
1×1BR · 6×2BR · 3×2BR lrg
Price / Unit
$1,320,000
per door
Price / SF
$592/SF
22,313 gross SF
CAP (Current)
4.8%
using Atlas data
GRM (Current)
14.59 GRM
at close
NOI
$569,744
implied current
Gross Annual Rent
~$904,729
implied, no T-12 on file
Year Built
2015
Beverly Hills, 4 stories
Lot SF
11,900 SF
0.27 acres · FAR 1.88
ULA Tax Estimate
No ULA
City of Beverly Hills doesn't have ULA

The Location

313 S Reeves Drive sits in the residential core of Beverly Hills, one block east of Beverly Drive and roughly four blocks south of Wilshire.   This is right behind South Beverly Drive and an easy walk to the best restaurants and shops.  I love this location.

The Setup

The mix breaks down as 1 one-bedroom at $5,600/month asking, 6 two-bedrooms at roughly $7,168/month, and 3 larger two-bedrooms at roughly $10,633/month. Subterranean, gated parking with 28 stalls for 10 units, which is 2.8 stalls per unit, an unusually generous ratio. The building was purpose-built as condominiums, rented from day one, and conveyed with a recorded condo map. Each unit holds its own APN. 

What an Operator Sees

Yesterday I toured the building and ended up talking with one of the tenants, a physician who recently moved here from the East Coast.

I asked him how he liked living in Beverly Hills.

He smiled and said:

"Beverly Hills is an oasis. I'm never leaving."

That one conversation stuck with me.

We spend so much time analyzing cap rates, GRMs, and rent rolls that we sometimes forget to ask the people actually paying the rent why they chose to live there.

After walking the building, seeing the condo-quality construction, and hearing how strongly a resident felt about the neighborhood, I left thinking less about this transaction and more about the market.

If I don't end up building homes in the Palisades, Beverly Hills just moved much higher on my list for my next apartment acquisition.  

Listing Broker:

Dario Svidler 

(424) 600-7633 (p)
(424) 600-7633 (m)
(424) 600-7633 (p)
dario@svidlercre.com

I track every multifamily sale in Los Angeles so you don't have to.

If you found this useful, share it.  

Send OMs to David@AtlasBrief.LA

Brokers
Listing Broker
Lee Mintz
Buyer Broker
Luiza Vardumyan
Pinnacle Estate Properties
  • DRE# 02116279
Written from the field

David Safai, operator, developer, GC.

Atlas Home Builders, Inc. is a Los Angeles owner-operator and general contractor. If you are a broker with a listing you want an honest read on, send the OM and the T-12 to David@AtlasBrief.La.

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