Description
The "Robertson Opportunity" located on 1916-1920 S Robertson Blvd presents an investor the opportunity to acquire a fully vacant, 21,997SF, multifamily asset, situated on a 24,384 LAR3 lot in the WLA community bordering Cheviot Hills, Pico-Robertson and Culver City. City records indicate a total of 32 units were on the site. Formerly an adult care facility, this asset has the potential to be returned back to apartments with the potential to add ADU units. There is an estimated 5,000 SF of improvement not currently allocated to residential use, making for plenty of opportunity to add units and ADU's within the existing structures. Alternatively, one has the potential to build a new multifamily development on the large24,384 SF lot. By using by-right and density bonus criteria one may be able to build 35-50 new units, with the potential to increase the unit count further with the addition of ADUs. In total, due to the tremendous opportunity to add value through renovation or new development, this asset represents a compelling opportunity to build significant equity, generate an out sized yield on cash, all while being very well positioned to capitalize on any inflationary pressure expected to occur in the years ahead.
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32BEDS
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0.56ACRES
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0BATHS
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01/2 BATHS
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21,997SQFT
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$591$/SQFT
School Ratings & Info
Description
The "Robertson Opportunity" located on 1916-1920 S Robertson Blvd presents an investor the opportunity to acquire a fully vacant, 21,997SF, multifamily asset, situated on a 24,384 LAR3 lot in the WLA community bordering Cheviot Hills, Pico-Robertson and Culver City. City records indicate a total of 32 units were on the site. Formerly an adult care facility, this asset has the potential to be returned back to apartments with the potential to add ADU units. There is an estimated 5,000 SF of improvement not currently allocated to residential use, making for plenty of opportunity to add units and ADU's within the existing structures. Alternatively, one has the potential to build a new multifamily development on the large24,384 SF lot. By using by-right and density bonus criteria one may be able to build 35-50 new units, with the potential to increase the unit count further with the addition of ADUs. In total, due to the tremendous opportunity to add value through renovation or new development, this asset represents a compelling opportunity to build significant equity, generate an out sized yield on cash, all while being very well positioned to capitalize on any inflationary pressure expected to occur in the years ahead.
Based on information from the Combined LA/Westside Multiple Listing Service as of 2023-01-29T07:42:41.767. 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.