1920 S Robertson Boulevard, Los Angeles, CA 90034 (MLS # 23278819)
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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!
| DAYS ON MARKET | 351 | LAST UPDATED | 7/10/2023 |
|---|---|---|---|
| YEAR BUILT | 1954 | COMMUNITY | Beverlywood Vicinity |
| COUNTY | Los Angeles | STATUS | Active |
| PROPERTY TYPE(S) | Residential Income |
| 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 |
TOTAL MONTHLY PAYMENT
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