277 S Spalding Dr #102 · Beverly Hills, CA 90212

$1,149,000

3 bd · 4.0 ba · 2,427 sqft · Condo public records · 41 Days on market

Built 1994 $473/sqft · 32% below area Est $1685k · 32% under $5500/mo HOA · 64% of rent

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Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +15.0/15.0
• Appreciation +8.1/10.0
• Schools +5.9/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Rent growth +2.2/5.0
• Cash flow +0.0/30.0
• DSCR +0.0/10.0

Listing remarks MLS

Presenting a perfect flip opportunity for a developer or an end user to bring their contractor! This spacious 2,400-square-foot, first-floor three-bedroom, 3.5-bath condominium in the Beverly Spalding sits within close proximity of the prestigious Beverly Hills High School and the Golden Triangle in Beverly Hills, Westfield Century City Mall, and Roxbury Park. Double French doors lead to two generous outdoor spaces. All bedrooms have en-suite bath. This charming condo has been upgraded with new flooring throughout. Large living room with fireplace. Separate dining area, great kitchen, huge primary suite with fireplace, and spa tub. With in-unit laundry, two side-by-side garage parking spots, and unbeatable proximity to world-class shopping, dining, and amenities all in the heart of 90210. Plus, it falls within the highly coveted Beverly Hills School District with access to premier city services, making it the epitome of luxury living in Los Angeles. Some photos are virtually staged.

Key facts

• $5,500 HOA
• 3 garage spots
• Built 1994

What this means for you Summary

Snapshot

• This is a 3-bed/4.0-bath condo listed at $1.15M.

Deal economics

• At list price, monthly cash flow is $-6k ($-68k/yr) — negative.
• To cash-flow at today's rent, offer at most $146k (87.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $853k (25.8% below list).
• Recommended offer: $146k (87.3% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 74/100 on livability (#138 in CA, #4,810 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, amenities A+, commute A+; Watch: housing C-, health & safety C-, crime F.
• Beverly Hills Unified (suburban): math 57% / reading 73% proficiency, ranked #61 of 517 in CA (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 7% free/reduced lunch — higher-income household profile.
• Market conditions: Rents soft (-1.0%/yr); 51 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $8,527/mo this rent would consume 87% of the median local household income ($118k/yr) (locally 1267% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $80k of equity ($8k loan paydown + $72k appreciation (6.3% local appreciation)).
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$128k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($1.11M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 29y ago; this cycle's ask has dropped $150k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $860k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 64% of rent.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $146,002 (87.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 87% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.74% ✗
• Cap rate: 0.36%
• Cash-on-cash: -21.18%
• DSCR: 0.06
• GRM: 11.2

CMA / ARV

• ARV (median comp): $1,684,876
• List price: $1,149,000
• Delta: -31.81%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

6.28% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -1.5%
• Equity multiple: 0.90×
• Total profit: $-33,061
• Equity at exit: $742,444

10-year hold

• IRR: 2.0%
• Equity multiple: 1.44×
• Total profit: $142,083
• Equity at exit: $1,364,117

Cash invested: $321,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 90212

• Home prices YoY: 1.9%
• Rents YoY: -1.0%
• Active inventory: 51
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $8,527 high
• Mortgage (P&I): −$6,025
• Tax from tax record: −$410 /mo · $4,923/yr
• Insurance: −$479
• HOA: −$5,500
• Vacancy / Maint / Mgmt: −$1,791
• Net cashflow: $-5,678

Break-even live

Break-even rent $15,714

Max offer price $146,002

Occupancy floor —

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $287,250
• Closing costs: $34,470
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
277 S Spalding Dr #201 Beverly Hills, CA	2.0	3.0	1943	$10,500	$5.40	43d	1	0.02mi
9928 Robbins Dr Beverly Hills, CA	3.0	2.5	1740	$7,450	$4.28	24d	1	0.15mi
9928 Robbins Dr Beverly Hills, CA	3.0	2.5	1740	$6,995	$4.02	7d	1	0.15mi
200 S Linden Dr Beverly Hills, CA	3.0	4.0	3075	$18,000	$5.85	24d	1	0.21mi
137 S Spalding Dr #304 Beverly Hills, CA	2.0	2.5	1629	$6,995	$4.29	24d	1	0.25mi
141 S Linden Dr #206 Beverly Hills, CA	3.0	2.0	2093	$7,000	$3.34	15d	1	0.25mi
9955 Durant Dr Unit 106 Beverly Hills, CA	2.0	2.0	1800	$7,000	$3.89	43d	1	0.26mi
10000 Santa Monica Blvd Los Angeles, CA	2.0	2.5	1621	$14,450	$8.91	2d	1	0.33mi
441 S Bedford Dr Beverly Hills, CA	3.0	3.0	1800	$6,000	$3.33	6d	1	0.34mi
428 S Bedford Dr Beverly Hills, CA	3.0	3.0	1900	$9,250	$4.87	7d	1	0.34mi
2142 Century Park Ln Los Angeles, CA	2.0	2.0–2.5	2162	$8,500	$3.93	24d	2	0.40mi
9563 Charleville Blvd Beverly Hills, CA	2.0	2.5	1663	$16,500	$9.92	43d	1	0.45mi
9565 Charleville Blvd Beverly Hills, CA	2.0	2.5	1599	$17,500	$10.94	3d	1	0.45mi
155 S Rodeo Dr Beverly Hills, CA	2.0	2.5	1660	$10,000	$6.02	7d	1	0.48mi
1220 Roxbury Dr #204 Los Angeles, CA	2.0	2.5	1659	$5,995	$3.61	18d	1	0.50mi
9507 W Olympic Blvd Beverly Hills, CA	3.0	3.0	1869	$8,950	$4.79	24d	1	0.50mi
1 W Century Dr Los Angeles, CA	2.0	2.5–3.5	3020	$25,000	$8.28	24d	2	0.50mi
2025 Avenue of the Stars #1420 Los Angeles, CA	3.0	3.0	2452	$25,000	$10.20	43d	1	0.51mi
2025 Avenue of the Stars #1203 Los Angeles, CA	2.0	2.5	1942	$19,000	$9.78	43d	1	0.51mi
2025 Avenue of the Stars #1412 Los Angeles, CA	2.0	2.5	2408	$23,500	$9.76	43d	1	0.51mi
211 Elm Ct Unit 14B Los Angeles, CA	2.0	2.5	1813	$17,950	$9.90	3d	1	0.52mi
1304 Roxbury Dr #103 Los Angeles, CA	3.0	2.5	1722	$7,750	$4.50	18d	1	0.54mi
261 S Reeves Dr Beverly Hills, CA	2.0	2.5	1736	$11,000	$6.34	43d	1	0.61mi
329 S Reeves Dr Beverly Hills, CA	2.0	2.0	1800	$6,500	$3.61	24d	1	0.62mi
207 S Reeves Dr Beverly Hills, CA	3.0	3.0	2400	$6,500	$2.71	24d	1	0.65mi
207 S Reeves Dr Beverly Hills, CA	3.0	3.0	2400	$7,750	$3.23	43d	1	0.65mi
450 Smithwood Dr Beverly Hills, CA	2.0	2.5	2676	$7,250	$2.71	43d	1	0.68mi
2222 Avenue of the Stars Unit 2402E Los Angeles, CA	2.0	2.0	1639	$8,500	$5.19	43d	1	0.69mi
2222 Avenue of the Stars #704 Los Angeles, CA	3.0	3.0	2200	$25,000	$11.36	1d	1	0.69mi
252 S Canon Dr Beverly Hills, CA	3.0	2.0	2017	$9,000	$4.46	24d	1	0.71mi
1278 S Camden Dr #301 Los Angeles, CA	3.0	3.0	1585	$6,200	$3.91	7d	1	0.71mi
1568 Ensley Ave Los Angeles, CA	4.0	3.0	2494	$9,500	$3.81	5d	1	0.72mi
1204 Beverwil Dr Los Angeles, CA	4.0	3.5	3105	$12,995	$4.19	24d	1	0.72mi
1204 Beverwil Dr Los Angeles, CA	4.0	3.5	3105	$12,995	$4.19	43d	1	0.72mi
9385 Charleville Blvd Beverly Hills, CA	3.0	2.0	2000	$5,500	$2.75	24d	1	0.73mi
9373 W Olympic Blvd Beverly Hills, CA	3.0	3.0	1900	$5,995	$3.16	43d	1	0.74mi
1539 Ensley Ave Los Angeles, CA	4.0	3.0	2374	$10,900	$4.59	24d	1	0.78mi
232 S Crescent Dr Beverly Hills, CA	4.0	3.0	2400	$10,995	$4.58	14d	1	0.78mi
368 S Crescent Dr Beverly Hills, CA	3.0	2.0	1600	$5,500	$3.44	43d	1	0.78mi
368 S Crescent Dr Beverly Hills, CA	3.0	2.0	1600	$4,900	$3.06	24d	1	0.78mi

HOA detail condo

• Monthly dues: $5,500 · $66,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-05-12
   price $1,149,000 997-char remark

   Show marketing remark (997 chars)

   Presenting a perfect flip opportunity for a developer or an end user to bring their contractor! This spacious 2,400-square-foot, first-floor three-bedroom, 3.5-bath condominium in the Beverly Spalding sits within close proximity of the prestigious Beverly Hills High School and the Golden Triangle in Beverly Hills, Westfield Century City Mall, and Roxbury Park. Double French doors lead to two generous outdoor spaces. All bedrooms have en-suite bath. This charming condo has been upgraded with new flooring throughout. Large living room with fireplace. Separate dining area, great kitchen, huge primary suite with fireplace, and spa tub. With in-unit laundry, two side-by-side garage parking spots, and unbeatable proximity to world-class shopping, dining, and amenities all in the heart of 90210. Plus, it falls within the highly coveted Beverly Hills School District with access to premier city services, making it the epitome of luxury living in Los Angeles. Some photos are virtually staged.

2. 2026-04-14
   listed $1,299,000 Active 997-char remark

   Show marketing remark (997 chars)

   Presenting a perfect flip opportunity for a developer or an end user to bring their contractor! This spacious 2,400-square-foot, first-floor three-bedroom, 3.5-bath condominium in the Beverly Spalding sits within close proximity of the prestigious Beverly Hills High School and the Golden Triangle in Beverly Hills, Westfield Century City Mall, and Roxbury Park. Double French doors lead to two generous outdoor spaces. All bedrooms have en-suite bath. This charming condo has been upgraded with new flooring throughout. Large living room with fireplace. Separate dining area, great kitchen, huge primary suite with fireplace, and spa tub. With in-unit laundry, two side-by-side garage parking spots, and unbeatable proximity to world-class shopping, dining, and amenities all in the heart of 90210. Plus, it falls within the highly coveted Beverly Hills School District with access to premier city services, making it the epitome of luxury living in Los Angeles. Some photos are virtually staged.

3. 2025-11-14
   historical $7,500
4. 2025-10-11
   listed $7,500
5. 2003-01-03
   soldstatus $860,000 233-char remark

   Show marketing remark (233 chars)

   BEAUTIFUL & NEWER BUILDING BURSTING WITH EUROPEAN CHARM, GREAT LOCATION WALKING DISTANCE TO RODEO DRIVE. SHOPPING. MARBLE FLOOR IN ENTRY FULL, KITCHEN & BATHROOM. HARDWOOD FLOOR IN LIVING ROOM; NEWER APPLIANCES. MUST SEE!

6. 2003-01-03
   soldstatus $850,000

   Show marketing remark (233 chars)

   BEAUTIFUL & NEWER BUILDING BURSTING WITH EUROPEAN CHARM, GREAT LOCATION WALKING DISTANCE TO RODEO DRIVE. SHOPPING. MARBLE FLOOR IN ENTRY FULL, KITCHEN & BATHROOM. HARDWOOD FLOOR IN LIVING ROOM; NEWER APPLIANCES. MUST SEE!

7. 2002-08-21
   historical 233-char remark

   Show marketing remark (233 chars)

   BEAUTIFUL & NEWER BUILDING BURSTING WITH EUROPEAN CHARM, GREAT LOCATION WALKING DISTANCE TO RODEO DRIVE. SHOPPING. MARBLE FLOOR IN ENTRY FULL, KITCHEN & BATHROOM. HARDWOOD FLOOR IN LIVING ROOM; NEWER APPLIANCES. MUST SEE!

8. 2002-03-16
   listed $890,000 233-char remark

   Show marketing remark (233 chars)

   BEAUTIFUL & NEWER BUILDING BURSTING WITH EUROPEAN CHARM, GREAT LOCATION WALKING DISTANCE TO RODEO DRIVE. SHOPPING. MARBLE FLOOR IN ENTRY FULL, KITCHEN & BATHROOM. HARDWOOD FLOOR IN LIVING ROOM; NEWER APPLIANCES. MUST SEE!

9. 2000-07-19
   soldstatus $720,000
10. 2000-07-19
    soldstatus $720,000
11. 2000-05-23
    historical
12. 2000-02-17
    listed $750,000
13. 1997-09-22
    soldstatus $550,000
14. 1997-09-10
    soldstatus $550,000
15. 1997-08-18
    historical
16. 1997-06-12
    listed $575,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $4,923 · $410/mo
• Projected year-2 tax: $8,732 · $728/mo
• Expected delta: +$3,810/yr (+$317/mo · 77.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥86°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $102,330
• − Mortgage interest: −$64,362
• − Property taxes: −$4,923
• − Insurance: −$5,745
• − Repairs & maintenance: −$8,186
• − Management: −$8,186
• − HOA: −$66,000
• − Depreciation: −$33,425
• Taxable loss: −$88,498
• Est. tax savings @ 24.0%: +$21,240
• After-tax cash flow: $-46,893/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Beverly Hills Unified
• NCES district ID: 0604830
• Math proficiency: 57% ▼ -7.00%
• Reading proficiency: 73% ▼ -2.00%
• Median HH income: $89,439
• Composite: 58.93/100
• National rank: #969
• State rank: #61 of 517 in CA

Livability — Beverly Hills

• Score: 74/100
• State rank: #138
• US rank: #4810

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment A+ Housing C- Health & safety C- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Beverly Hills, CA
• County: Los Angeles County · 9,444,647 people
• City population: 38,852
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 10,728
• Household income: $118,019
• Rent vs Own: 78.9% rent · 21.1% own
• Severe rent burden: 1267.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Asian 12% Two or more races 10% Hispanic / Latino 9% Black 3%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Scotch-Irish 8% Romanian 7% Lithuanian 4%
• Foreign-born: 33% · Canada, China, Jamaica
• Languages at home: 64% English-only · Other Indo-European 13% Spanish 9% French/Haitian/Cajun 3%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.28%
• Current HPI: 327.6332
• Rent YoY: ▼ -1.02%
• Metro: Los Angeles-Long Beach-Anaheim, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+99.8% since first listed

16 events — show timeline

• 2026-05-12 Price Changed $1,149,000 TheMLS
• 2026-04-14 Listed $1,299,000 TheMLS
• 2025-11-14 Rental Removed $7,500 CLAW
• 2025-10-11 Listed for Rent $7,500 CLAW
• 2003-01-03 Sold (Public Records) $850,000 Public Records
• 2003-01-03 Sold (MLS) $860,000 TheMLS
• 2002-08-21 Delisted — TheMLS
• 2002-03-16 Listed $890,000 TheMLS
• 2000-07-19 Sold (Public Records) $720,000 Public Records
• 2000-07-19 Sold (MLS) $720,000 TheMLS
• 2000-05-23 Delisted — TheMLS
• 2000-02-17 Listed $750,000 TheMLS
• 1997-09-22 Sold (MLS) $550,000 TheMLS
• 1997-09-10 Sold (Public Records) $550,000 Public Records
• 1997-08-18 Delisted — TheMLS
• 1997-06-12 Listed $575,000 TheMLS

Property tax history

+2.3%/yr

Latest (2025): $4,923 · +2.7% YoY. Source: county tax records.