1920 S Robertson Boulevard, Los Angeles, CA 90034 (MLS # 23278819)
The "Robertson Opportunity" located on 1916-1920 S Robertson Blvd presents an investor the opportunity to acquire 21,997 SF of improvements formerly licensed as an ARF. The property is fully vacant, situated on a 24,384 LAR3 lot in the WLA community of Pico-Robertson. The improvements were last used as a licensed, 100 bed, Adult Residential Facility. The improvements include a commercial kitchen area, commissary, employee lounge, administrative office, laundry, equipment and storage rooms. The property no longer holds the license to operate as an ARF, but a new owner may be able to acquire a new license. City records indicate that the two properties were originally configured as a total of 32 units. A new owner may potentially be able to return the property back to the 32-unit apartments. There are several storage and garage like areas not currently allocated to residential use, making for plenty of opportunity to add ADU's within the existing structures. Alternatively, one has the potential to build a new multifamily development on the large 24,384 SF lot. By using a variety of potential density bonus incentives, one may be able to build between 30 to 88 new units. In total, due to the tremendous opportunity to add value through renovation or new development, this asset represents a compelling opportunity for investors who are motivated to add value through renovation and/or development. Please view the OM attached for more information!
Property Type(s):
Residential Income
|
Last Updated
|
7/10/2023
|
Year Built
|
1954
|
|
Community
|
Beverlywood Vicinity
|
County
|
Los Angeles
|
Price History
|
Prior to Jul 10, '23
|
$13,000,000 |
| Jul 10, '23 - Today |
$14,000,000 |
Additional Details
| AIR |
Wall/Window Unit(s) |
| AIR CONDITIONING |
Yes |
| AREA |
Beverlywood Vicinity |
| BUYER'S BROKERAGE COMPENSATION |
1.000 % |
| GARAGE |
Gated |
| HEAT |
Natural Gas |
| LOT |
0.56 acre(s) |
| PARKING |
Gated |
| POOL DESCRIPTION |
None |
| STORIES |
2 |
| STYLE |
Mid-Century Modern |
| VIEW |
Yes |
| VIEW DESCRIPTION |
Courtyard |
| ZONING |
LAR3 |
Location
Listed with Kidder Mathews of California, Inc.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 5/3/24 6:41 AM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2024.
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