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J.G. Cotton and his wife moved to Los Angeles, CA, permanently in 1927, and built this apartment building soon after. By 1938, he was 84 and seeking to donate the building to an educational charity, but needed to derive income from it for the rest of his life and that of his wife. The George Pepperdine Foundation, operator of a college then located in Los Angeles, offered a novel solution to facilitate the charitable donation while enabling retirement income to remain for the Cottons. The Los Angeles Times of 04/10/1938 said of this arrangement: "The gift of an apartment building at 2002 North Beachwood Drive, Hollywood, by Mr. and Mrs. J.G. Cotton to the George Pepperdine Foundation, subject to certain life interests, has been announced. The structure was formerly the home and income property of the donors and consists of three apartments--a two-room, three-room and six-room apartment. Mr. Pepperdine, in expressing appreciation for this presentation by Mr. and Mrs. Cotton, stated that it was possible to accept the property and at the same time provide an income for the donors by a purchase agreement wheregy certain payments are made for a period of time." (See "Property Given to Aid College," Los Angeles Times, 04/10/1938, p. E3.)

PCAD id: 18553