Rare Fully-Entitled Luxury Development Sites in Beverly Hills Hits Market, Offering 89 New Units in one of Nation’s Tightest Land Markets
About $30 Million represents the largest entitled development offerings in Beverly Hills in recent years.
Beverly Hills, CA , June 17, 2025 (GLOBE NEWSWIRE) — The Group CRE, a Los Angeles-based commercial real estate brokerage specializing in apartment buildings, today announced the listing of two fully-entitled luxury development sites in prime Beverly Hills locations. The properties at 412 N Oakhurst Drive and 149-159 S Maple Drive/9225 Charleville Boulevard represent a combined 89 luxury residential units (excluding ADUs) ready for immediate development in one of the nation’s most supply-constrained markets.
412 N Oakhurst Dr Rendering
The simultaneous availability of two entitled sites of this caliber is unprecedented in Beverly Hills, where development-ready land has become increasingly scarce. Together, the properties offer developers the rare opportunity to add significant luxury housing inventory without the typical 2-3 year entitlement process.
“These aren’t just development sites – they’re once-in-a-lifetime opportunities in the heart of Beverly Hills,” said Taylor Avakian, broker at The Group CRE. “With full entitlements already secured, a developer can break ground within months and capture the current market demand for luxury housing. Beverly Hills is an oasis of real estate calm in an otherwise stormy SoCal real estate market. In a city where entitled land is virtually extinct, having two sites of this quality available simultaneously is a once-in-a-decade event.”
412 N Oakhurst Drive offers:
- 8-story luxury development approval (rare in Beverly Hills)
- 52 units plus 4 ADUs
- 20%+ projected return on cost for condo development
- Walking distance to Robertson Boulevard’s premier shopping and dining
- $15 million asking price
149-159 S Maple Drive features:
- 7-story contemporary design approval
- 37 units plus 1 ADU
- 6.7% projected stabilized yield (conservative)
- Prime location near Wilshire Boulevard
- $16 million land basis
The Beverly Hills luxury residential market continues to demonstrate exceptional fundamentals, with average luxury condo sales reaching $1,495 per square foot, 96% occupancy rates, and an average household income of $168,000 within a one-mile radius. The city’s strict development regulations and lengthy approval processes have created a severe shortage of new luxury inventory, making entitled sites particularly valuable. Both of these sites can easily be converted to condominium projects under the same state law (SB 330).
“We’re seeing unprecedented interest from both domestic and international developers who understand the value of bypassing the entitlement process,” added Avakian. “These sites offer immediate execution in a market where timing is everything.”
Both properties feature approved designs that maximize the allowable density while maintaining the aesthetic standards Beverly Hills is known for. The developments will contribute to the city’s housing goals while preserving the character that makes Beverly Hills one of the world’s most desirable residential addresses.
The Group CRE is conducting a targeted marketing campaign to qualified developers and investment groups, with offerings memoranda available under NDA. Virtual tours and site visits are being scheduled for qualified parties.
About The Group CRE
The Group CRE is a boutique commercial real estate brokerage specializing in the sale of apartment buildings and development opportunities throughout Los Angeles. Known for creative marketing strategies and deep market expertise, the firm executes transactions across channels others overlook. For more information, visit www.thegroupcre.com.
Contact:
Taylor Avakian
The Group CRE
916-996-4421
taylor@thegroupcre.com
412 N Oakhurst Dr Rendering 2
