Thank you
Scott Rosenberg
Kidder Mathews of California, Inc.
310-807-0880
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!
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Total Bedrooms : 37
Total Baths: 32
Full Baths: 0
Half Baths: 0
Wall/Window Unit(s)
Air Conditioning
Natural Gas
Has Heating
Year Built: 1954
Building Area Total: 21,997
Fire Sprinkler System,Gated Community
None
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.5598
Lot Size Source: Other
Lot Size Square Feet: 24384
Original List Price: 14,000,000
Listing Contract Date: 2023-06-01
Listing Agreement: Exclusive Right To Sell
Parcel Number: 4302019003
Garage Description: Gated
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: C09 - Beverlywood Vicinity
Postal Code Plus 4: 1129
Directions: East side of Robertson, South of Sawyer. Located near other great neighborhoods such as Culver City and Palms/Mar Vista.
Zoning: LAR3
Source Property Type: Residential Income
Area: C09 - Beverlywood Vicinity
Property Age: 70
Property Condition: Fixer
Year Built Source: Assessor
Total Square Feet Living: 21997
Entry Location: Ground Level w/steps
Levels or Stories: Two
Building Total Stories: 2
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
3610 Westwood Boulevard, Los Angeles, CA,90034 | $3,350,000 | 13 | -- | 6,270 | 7931 Sqft |
3766 S Canfield Avenue, Los Angeles, CA,90034 | $3,300,000 | 8 | -- | 4,854 | 6428 Sqft |
3126 S Canfield Avenue, Los Angeles, CA,90034 | $3,250,000 | 11 | -- | 7,321 | 8005 Sqft |
2803 Cardiff Avenue, Los Angeles, CA,90034 | $2,199,000 | 3 | 2 | 1,700 | 6761 Sqft |
10521 National Boulevar.., Los Angeles, CA,90034 | $450,000 | 1 | 1 | 625 | 27070 Sqft |
3757 Veteran Avenue, Los Angeles, CA,90034 | $2,290,000 | 8 | -- | 4,248 | 4664 Sqft |
3651 Cardiff Avenue, Los Angeles, CA,90034 | $2,200,000 | -- | -- | 2,104 | 6754 Sqft |
3651 Cardiff Avenue, Los Angeles, CA,90034 | $2,200,000 | 3 | 2 | 2,104 | 6754 Sqft |
2016 S Bedford Street #1, Los Angeles, CA,90034 | $2,350,000 | -- | -- | 6,384 | 6301 Sqft |
9131 Olin Street, Los Angeles, CA,90034 | $1,750,000 | 3 | 1 | 1,987 | 5001 Sqft |
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ByOwner last updated this listing 05/02/2024 @ 18:59
MLS: 23278819
LISTED BY: Scott Rosenberg, Kidder Mathews of California, Inc.
SOURCE: CRMLS
Buyer Agency Compensation: 1.5%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.