3524 Chesapeake Ave

12-28-2021
01-24-2022

3524 Chesapeake Ave, Los Angeles, CA 90016

  • 2021 Construction
  • City Views from Many of the Units | Luxury Finishes
  • On the Metro Expo Line
  • Modern Systems
  • Prime Location | Tremendous Accessibility
  • Stabilized Asset with Great Long Term Potential

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.

Key Property Information

Listing Status
Available
Listing Type
Highest & best offer
Multifamily type
Garden Style
Price
$ 12,500,000
No. of Units
27
GRM / GIM
18.63
Building Size
23,056 Sq ft
Lot Size
12,808 Sq ft
No. of Stories
3
APN
5046-015-033
Zoning Code
R3
No. of Parking Spots
16
Opportunity Zone
Off
Price per unit
$ 462,963
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34.023031, -118.344985

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