OVERVIEW
Q: What is Robinson Residences?
Robinson Residences is an 8-unit residential apartment building undergoing a legal conversion to Tenancy-in-Common (TIC) ownership. Each unit is a one-bedroom, one-bathroom home located minutes from Silver Lake, Echo Park, and Downtown LA. The building features upgraded systems, renovated interiors, and ongoing common area improvements including a redesigned entry and rooftop patio. This is a cutting-edge opportunity to own real estate in Los Angeles at a fraction of the typical cost.

Q: What is being sold?
Each buyer is purchasing a 1/8th membership interest in 240 Robinson Street 90026 LLC, tied to a specific unit through a 99-year ground lease. After conversion, you will hold deeded ownership under a TIC structure.

Q: How is this different from a condo?
Unlike a condo, TICs involve co-ownership of the entire property with exclusive rights to occupy your specific unit. After conversion, you may refinance or resell just like a condo, but through TIC-friendly lenders and agreements.

TIC CONVERSION
Q: When will the TIC conversion be complete?
Legal conversion is underway with TIC attorney Andy Sirkin. Expected completion is 8–10 months from date of sale.

Q: What happens at conversion?
Your LLC membership and ground lease convert into recorded TIC ownership. You receive legal title to your unit and may refinance or sell independently.

Q: Can I sell my unit before TIC conversion?
Yes, but any sale must comply with the LLC’s Operating Agreement, including Right of First Refusal and Manager approval. After TIC conversion, sales are unrestricted.

OCCUPANCY & TENANCY
Q: Are the units vacant?
Yes. All units will be delivered vacant at close of escrow. The Seller is completing all tenant relocations through Ellis Act proceedings.

Q: Can I rent out my unit?
Yes. Long-term rentals (30+ days) are allowed post-closing, subject to TIC rules and Manager approval prior to conversion. Short-term rentals are prohibited.

Q: Can I live in the unit immediately?
Yes. You can take possession at close of escrow, unless you’ve opted for renovation first.

Q: What’s included in the renovation budget?
A complete gut remodel including kitchen, bath, flooring, electrical, plumbing, windows, drywall, lighting, fixtures, appliances, and finishes. Renovations must be completed for all non-renovated units using Reshape Construction (www.ReshapeConstruction.com) for $40,000. This ensures building safety, uniform design, and consideration for other residents. Renovation funds will be held in escrow and drawn bi-weekly for labor and materials.

Q: Can I use a different contractor?
No. All renovations must be performed by Reshape Construction to ensure consistent quality, safety standards, and project management.

Q: How long do renovations take?
Typical completion time is 2–3 months per unit.

FINANCIALS & COSTS
Q: Is this an all-cash purchase?
Yes. No financing is available pre-conversion. Proof of funds is required.

Q: What are the monthly and quarterly costs?
Monthly: $200 HOA covers common utilities, maintenance, cleaning, and pest control. Quarterly: 1/8th share of water/sewer, building insurance, and property taxes (~1.25% of purchase price annually).

Q: Are reserves or special assessments expected?
Each unit includes a $5,000 reserve contribution. Future assessments require 67% owner approval.

Q: Do I get title insurance?
Not until TIC conversion is complete. Title insurance will apply once deeds are recorded.

LEGAL & GOVERNANCE
Q: Who manages the building?
Until conversion, management is handled by Seller/Manager David Levine Bramante via Reshape Construction and Better Real Estate I LLC. After conversion, all owners self-govern under the TIC agreement.

Q: What legal protections are in place?
The Operating Agreement and upcoming TIC Agreement both limit owner liability to their share (1/8th). You are not responsible for other owners’ debts or defaults.

Q: What if another owner fails to pay?
You are not liable. Delinquent shares may be penalized or recovered via legal remedies available to the LLC or TIC.

RESALE, REFINANCE & EXIT
Q: Can I refinance after TIC conversion?
Yes. You can refinance with TIC lenders such as Sterling Bank or National Cooperative Bank once the TIC is recorded.

Q: Can I sell after TIC conversion?
Yes. No approvals are needed to sell post-conversion.

Q: Can I resell before TIC conversion?
Yes, with Manager approval and in compliance with the LLC Operating Agreement.

NEXT STEPS
Q: How do I make an offer?
Submit through the listing agent or your buyer’s agent. A 3% commission is offered to licensed agents. Offers must include a signed purchase agreement, proof of funds, and renovation agreement if applicable.

Q: Is escrow used?
Yes. Wilshire Escrow or another neutral third-party handles all closings.

Q: When do I get possession?
At close of escrow. If renovating, possession begins after completion.

Q: Where do I get the legal documents?
Buyers receive the full disclosure packet: Operating Agreement, Ground Lease, TIC conversion sample, budget and  renovation scope.