1904 -1916 S Robertson Blvd

La Cienega Heights, Los Angeles, CA 90034

$22,000,000
Multi Family Townhouse

AGENTS

Rachelle Rosten
Rachelle Rosten
  • Licensed Real Estate Salesperson
  • DRE #: 01255977
V-Card
Source of Data:
California Real Estate Technology Services

Property Description

It is a rare occasion on the westside of Los Angeles for a property of this scale and opportunity presents itself to the multifamily investor community. The "Robertson Portfolio "1904, 1916, 1920 S Robertson Blvd is a significant offering of 60 existing permitted units within 39,431 SF of improvements situated on over a contiguous acre of R3 residential land on S. Robertson Blvd. just South of Beverly Hills and North of Culver City. The offering includes APN #4302-019-001,002, & 003. Adding to its meaningful statistics, the Roberson portfolio has no less than 36 vacancies making for an incredible reposition opportunity to drive value and yield in this most desirable of submarkets. The property's configuration is nearly ideal given its unit mix of mostly one and two bedroom units as well as storage and garage space that is well situated for potential ADU conversions. With sales comps of similar properties trading at mid 3% cap rates and per unit cost trending at $450k per unit for existing housing stock, the Robertson portfolio, at only $367K offers meaningful upside to be extracted through the rehabilitation, relet and stabilization of this community of assets. Development potential exists as both in market rate or a an affordable housing project which has the potential to increase the density to approximately 150 units. In total, the Robertson Portfolio the merits the attention of anyone serious about undertaking deep value added opportunities, new development or growing their portfolio with significant assets in WLA. The properties can be purchased together or separately.
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PROPERTY DETAILS

  • Interior
    39,431 Sq Ft.
  • Exterior
    1.05 Acres
  • Property Type
    Multi Family Townhouse
  • Year Built
    1954
  • MLS/Listing ID
    22-219781
  • Days On Market
    83

Amenities

  • Pool
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Listing Courtesy of Kidder Mathews of California, Inc., Scott Rosenberg - 01456686 - 310-889-8738