3500 Chesapeake Avenue

Los Angeles, CA 90016

$10,795,000
Price
—
Beds
20,449 Sq. Ft.
$528 / Sq. Ft.
20,449
Sq. Ft.
$528
per Sq. Ft.

Description

Metropointe North is a 22 unit apartment building built in 2021, with professional management provided by Power Property Management, and occupancy is stable. The units are pristine and the location is excellent, adjacent to the Farmdale light rail metro station. Unit mix includes: 8 one bedroom and one bath, 4 two bedroom and one bath, 9 two bedroom and two bath, and 1 three bedroom and two bath. 3 units are deemed affordable housing. The neighborhood has undergone a major economic boom and the economic...Metropointe North is a 22 unit apartment building built in 2021, with professional management provided by Power Property Management, and occupancy is stable. The units are pristine and the location is excellent, adjacent to the Farmdale light rail metro station. Unit mix includes: 8 one bedroom and one bath, 4 two bedroom and one bath, 9 two bedroom and two bath, and 1 three bedroom and two bath. 3 units are deemed affordable housing. The neighborhood has undergone a major economic boom and the economic outlook is bright considering the ongoing $1 billion redevelopment of nearby 43 acre Crenshaw Plaza over the next seven years. The long term demand for local housing for this area seems robust. The building features a central courtyard and an oversized yard with pavers on the south side of the building. Tenants have access to a bike closet and an elevator for added convenience. All units are equipped with stainless steel appliances, a washer and dryer, central air conditioning and heat.

Listing Agent

  1. Tim Robertson

    Tim Robertson

    Listing Agent

    Compass

    DRE #01413500

    tim.robertson@compass.com

    P: (949)-322-7779

Property Details for 3500 Chesapeake Avenue

Total Units
22.0
Business Type
Rental
Lot Size Source
Estimated
Building Area Total
20449
Building Area Units
Square Feet
Stories Total
5
Entry Level
1
Parcel Number
5046015032
LISTING UPDATED: 08/28/2024 11:54 PM

Property Details for 3500 Chesapeake Avenue

StatusActive
MLS #NP23104842
Days on Market553
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeCommercial Sale / Multi Family
Year Built2021
Lot Size0.32 AC / 13,727 SF
CountyLos Angeles County

Building Information for 3500 Chesapeake Avenue

Stories5Residences-Year Built2021Building Size-Lot Size0.32 AC / 13,727 SF

Property Information for 3500 Chesapeake Avenue

Income / Expense / Tax Details
Income Details
  • Gross Scheduled Income: $646,452
  • Cap Rate: 4.1
  • Current Financing: Conventional
Expense Details
  • Total Expenses: $203,650
Community / Development
Community / Development
  • Investment Property: Yes
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: In Closet
Land/Lot Info
  • Sign on Property: No
  • Lot Features: Corner Lot
  • Land Use: Multi-Family
  • Land Lease: No
  • Water Source: Public
Property / Structure Info
  • Building Name: Metropointe North
  • Building Status: Existing
  • Building Features: Elevators
  • Asset Class: Multi-Family
Unit Information
Unit 1
  • Unit Type Units Total: 8
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Actual Rent: $2,045
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Actual Rent: $2,575
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 7
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Actual Rent: $2,645
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Actual Rent: $2,745
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Actual Rent: $1,000
  • Unit Type Type: 5
  • Unit Type Description: Affordable housing
Unit Information
  • Number Of Buildings: 1

Property History for 3500 Chesapeake Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 3500 Chesapeake Avenue

Taxable ValueLand$5,514,120Additions$4,837,860Total$10,351,980
Tax Record2024$126,605 ($10,550 / month)
Home Facts
Total Finished SqFt21,054 SqFtAbove Grade Finished SqFt21,054 SqFtLot Size13,728 SqFtStyleMulti-Family Res (5+ Units)Year Built2020ZoningLAR3CountyLOS ANGELESAPN5046-015-032

Schools near 3500 Chesapeake Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Charter - 5 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Coliseum Street Elementary School
PublicK to 5

Stella Middle Charter Academy
Charter5 to 8

Susan Miller Dorsey Senior High School
Public9 to 12

View Park Continuation School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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3500 Chesapeake Avenue is a multi-family home for sale in Los Angeles, CA 90016. This property was listed for sale on June 17, 2023 by Compass, it's currently listed at $10,795,000. It has been on the market for a total of 553 days and was last sold on November 16, 2021. This listing's school district is Los Angeles Unified School District. Nearby schools include Coliseum Street Elementary School, Stella Middle Charter Academy and Susan Miller Dorsey Senior High School. 3500 Chesapeake Avenue is a 0-bed, 0-bath, 20,449 sqft multi-family home built in 2021.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Compass, Tim Robertson, DRE #01413500

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.