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3524 Chesapeake Ave

Los Angeles, CA 90016
  • $12,500,000
  • STATUS: Active
  • ON SITE: 37 Days
  • MLS #: 21-799184
UPDATED: 57 min ago
$12,500,000
  • 36
    BEDS
  • 0.29
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 23,056
    SQFT
  • $542
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
2021
County:

School Ratings & Info

Description

The subject property is a luxury, brand new construction, 27 unit apartment complex located in the West Adams submarket of Los Angeles. Ideally situated on Chesapeake Ave (a quiet, residential street) and 3 doors down from Exposition Blvd (the Expo Line station is one block away). This 2021 constructed building has pristine units, an incredible unit mix and views from most units. The property boasts Eighteen 1 bedroom, 1 bathroom units, and Nine 2 bedroom, 2 bathroom units (3 of which are deemed affordable). Amenities include common area benches and tables, and a gym. The densely populated location ensures expeditious lease up and the luxurious units allow for tenant comfort and investor stability. The area has undergone a major economic renaissance during the past decade with development as the driving force. The new apartment and mixed use developments in the immediate area have provided an overwhelming increase in the demand for high end rental units and retail. 11 units remain vacant. The central courtyard building also has an oversized side yard on the southern side of the building. Tenants have access to a bike closet for bike storage and there is a pristine, inviting entryway with the elevator. All units have washer and dryers and balconies as well as all the modern conveniences of living in a brand new building.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-03T09:42:27.863. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.deserthouseseekers.com/homes/122761438
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3524 Chesapeake Ave Los Angeles, CA 90016

  • Price: $12,500,000
  • Status: Active
  • On Site: 37 Days
  • Updated: 57 min ago
  • MLS #: 21-799184
36
Beds
0
Baths
0
½ Baths
0.29
Acres
23,056
SQFT
$542
$/SQFT
2021
Built
Neighborhood:
Park Hills Heights
County:
Los Angeles
Area:
Park Hills Heights
Property Description
The subject property is a luxury, brand new construction, 27 unit apartment complex located in the West Adams submarket of Los Angeles. Ideally situated on Chesapeake Ave (a quiet, residential street) and 3 doors down from Exposition Blvd (the Expo Line station is one block away). This 2021 constructed building has pristine units, an incredible unit mix and views from most units. The property boasts Eighteen 1 bedroom, 1 bathroom units, and Nine 2 bedroom, 2 bathroom units (3 of which are deemed affordable). Amenities include common area benches and tables, and a gym. The densely populated location ensures expeditious lease up and the luxurious units allow for tenant comfort and investor stability. The area has undergone a major economic renaissance during the past decade with development as the driving force. The new apartment and mixed use developments in the immediate area have provided an overwhelming increase in the demand for high end rental units and retail. 11 units remain vacant. The central courtyard building also has an oversized side yard on the southern side of the building. Tenants have access to a bike closet for bike storage and there is a pristine, inviting entryway with the elevator. All units have washer and dryers and balconies as well as all the modern conveniences of living in a brand new building.
Exterior Features

Cross Streets Off Exposition Blvd Between La Brea And Crenshaw. Lot Size Area 12808 Other Structures None Parking Garage Gated Total Parking 16

Interior Features

Baths Total 36.00 Cooling Other Equipment Other Heating Other

Property Features

Assessed Total Value 1716660 Gross Income 670968 Gross Operating Income 650839 Like Units1 18 Like Units2 6 Like Units3 3 Net Operating Income 433017.00 Number Of Buildings 1 Number Of Units 27 Sale Type Standard Source Living Area Developer Source Lot Size Area Vendor Enhanced Source Lot Size Dimensions Assessor Total Annual Expense 217822 Type Of Units Apartments Year Built Source Builder Zoning R3-1 Tier 3

Listing provided courtesy of Dario Svidler DRE#01884474 of Compass.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-03T09:42:27.863. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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