The Chandler Convalescent Hospital in Valley Village has sold for $14.8 million dollars.

The 62,000-square-foot facility at 5335 Laurel Canyon Blvd. was purchased by GS Woodley LLC from investor Sanford Deutsch, according to real estate data firm CoStar Group and the West L.A. office of Marcus & Millichap.

“Properties of this size in the Los Angeles Basin area are rarely available for purchase. And this one has tremendous future development potential,” said Marty Cohan, a vice president Marcus & Millichap who represented both sides of the deal.

The 2.1-acre property contains a 201-bed skilled nursing facility and 49-bed assisted living facility in a building constructed in 1968. The hospital is on a triple-net lease with the property owner.