A 0.3-acre fully entitled development site located at 412 N. Oakhurst Drive in Beverly Hills has been listed for sale at $15 million. The property, situated just north of Burton Way and steps from the Four Seasons, is approved for an eight-story, 52-unit luxury multifamily project, with the potential to add four accessory dwelling units. The site was acquired by the current owner in 2021 for $7.89 million. Public property records show the current owner is a Beverly Hills-based entity.
Colliers, which is managing the listing, has announced that the offering presents a covered land opportunity with an existing 15-unit building generating $267,162 in net operating income, adding that it represents an opportunity to develop high-end housing in one of the most sought-after residential corridors in Beverly Hills. According to the offering memorandum, the proposed unit mix includes studios, one-, two- and three-bedroom residences, allowing flexibility for either a rental or condominium exit. With local condominium sales reportedly averaging $1,495 per square foot, the broker highlights a strong value gap between projected development costs and achievable sales pricing. The condo strategy is projected to yield a return on cost exceeding 20 percent, while the apartment approach is estimated to provide a 6.5 percent untrended yield to cost.
The flyer also underscores the proximity of the site to luxury landmarks such as Rodeo Drive, the Golden Triangle and Melrose Avenue, as well as the strong performance of nearby high-end projects like the Four Seasons Private Residences. These factors are presented as evidence of sustained demand for luxury residential products in the immediate area.
With a 2026 target construction start, the development is being marketed as a chance to secure a turnkey luxury project in a high-barrier-to-entry neighborhood. Colliers’ Vice Chair Kitty Wallace is managing the listing.
Luxury development activity in Beverly Hills continues to accelerate, driven by strong investor interest and high-end demand. Earlier this year, One Beverly Hills, a $5 billion ultra-luxury mixed-use development at 9850–9988 Wilshire Boulevard, has secured a $300 million mezzanine loan from Vici Properties to support ongoing construction. Slated for completion by late 2027, the 17.5-acre project will feature the West Coast’s first Aman Hotel, fewer than 200 Aman-branded condos, a renovated Beverly Hilton, and over 10 acres of lush botanical gardens and open space designed by RIOS. Backed by Cain International and Eldridge Industries, the development integrates hospitality, wellness, retail, and experiential amenities with the goal to set a new benchmark in luxury real estate.
