5300 Sepulveda Blvd. School for Sale
Sherman Oaks, CA 91403
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Phone: 818-501-5001 (ext. 132)
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Avl SQ FT: 9,500
Land SQ FT: 31,500
Land SQ FT: 9,500
Parking Spaces: TBD
Lease Rate: $23,000/mo.
Lease $/SF: $2.42N
Sale Price: $3,195,000 Price Just Reduced
Year Built: N/A
Description
There is an approximate 9,500 s.f. multi-classroom building on the property.

The Dept. of Building and Safety records show that there never was a CUP or Variance on the property. Reason being is that when the property was originally zoned R-4, neither a CUP or variance were required. High school and elementary school uses fit into that R-4 zone. When the zone changed from R-4 to R-3, those same uses had a non conforming right to continue as same. Currently the property can be used for a school under certain circumstances:

A Certificate of Occupancy was issued in May ’83 for a school use. Maximum of 299 students were allowed in 19 classrooms. According to the Dept of Bldg and Safety, and also a Mr. Tom Rath (City Planning), if a premises is not utilized for it’s approved use for a period of over 1 year (which is the case), a new CUP will be required. Verification of this regulation is found in the City of L.A. Municipal Code, 12.23, B.9 P. 1-235 in that it says: “A building or structure or portion of same which contains a non-conforming use which is discontinued for a continuous period of 1 year, shall only be occupied by a use that conforms to the current use regulations of the zone and other applicable land use requirements”.

Mr. Rath believes that continuing the same school use at the property would be approved by the city, but a CUP must be granted. He said one potential obstacle might be the neighbors, as no city official can ever predict if the neighbors might challenge, or appeal a CUP. In any event, the Sellers are disinclined to allow a Buyer to tie up the property while they go through this process, unless there is some kind of financial compensation to Seller.


For more information:
Ron Kassan 818-849-3547