3518 Chesapeake Avenue

Los Angeles, CA 90016

$14,675,000
Price
10
Beds
17
Baths
28,948 Sq. Ft.
$507 / Sq. Ft.
28,948
Sq. Ft.
$507
per Sq. Ft.

Description

The Peake is a recently constructed 32-unit modern luxury apartment community in the West Adams neighborhood of Los Angeles. The Peake is situated in a thriving focal point of Los Angeles for high-end living, retail, dining and entertainment with many transportation options and ease of access to many of Los Angeles’ popular destinations. High Quality Asset: The Peake offers investors a newly built, modern luxury, eco-friendly property that's extremely well-located. It also features an excellent mix...The Peake is a recently constructed 32-unit modern luxury apartment community in the West Adams neighborhood of Los Angeles. The Peake is situated in a thriving focal point of Los Angeles for high-end living, retail, dining and entertainment with many transportation options and ease of access to many of Los Angeles’ popular destinations. High Quality Asset: The Peake offers investors a newly built, modern luxury, eco-friendly property that's extremely well-located. It also features an excellent mix of units and amenities. Prime Location: The Property is located in a coveted pocket of Los Angeles with superb transportation access. It lies just steps away from the Farmdale metro station, with many choice shops and restaurants nearby. It's prime location offers easy access to Hollywood, Downtown, and the beach. Luxury Complex: This 32-unit apartment community, developed in 2023, offers a host of luxury amenities, from eco-friendly living to iconic views, electric car charging stations, a courtyard with a BBQ and a fitness center. RUBS has been implemented for water, sewer, trash and gas (for hot water). Newly Constructed Units: Featuring studios, one, and two-bedroom apartment floor plans, all units include all electric appliances, in-unit laundry, gourmet contemporary kitchens, central air & heat, smart door unit locks, spacious rooms, recessed lighting, private balconies and more. Thriving Multifamily Market: The upscale suburban enclave of nearby Culver City and Downtown Los Angeles displays a thriving economy with strong market fundamentals, favorable demographics and highly sought-after apartment rentals. The area is known for its nearby attractions, top-rated dining and shopping and endless recreational offerings.
  1. Listed by Warren Berzack • DRE #01329015 • Brokerage DRE #01191898 • Lee & Associates • 818-269-2979

Property Details for 3518 Chesapeake Avenue

Parking Spaces Total
0
Private Pool
No
Cooling Type
Central Forced Air
Total Units
32.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
28948
Assessor Parcel Number
5046-015-027
LISTING UPDATED: 11/23/2024 11:16 PM

Property Details for 3518 Chesapeake Avenue

StatusActive
MLS #SR24061953
Days on Market243
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built2023
CountyLos Angeles County

Building Information for 3518 Chesapeake Avenue

Building/Complex3518 Chesapeake AveFloor-Stories4Residences-Pet Policy-Year Built2023Building Size-

Property Information for 3518 Chesapeake Avenue

Rental Info
Rental Info
  • Tenant Pays: All Utilities
Income / Expense / Tax Details
Income Details
  • Gross Income: $1,129,864
  • Gross Scheduled Income: $1,129,864
  • Vacancy Allowance: 33896
  • Gross Operating Income: $1,095,968
  • Net Operating Income: $744,010
  • Gross Multiplier: 12.99
  • Cap Rate: 5.07
Expense Details
  • Operating Expense: $351,958
  • New Taxes Expense: $176,100
  • Fuel Expense: $3,000
  • Licenses Expense: $3,173
  • Electric Expense: $3,000
  • Insurance Expense: $17,532
  • Maintenance Expense: $16,000
  • Professional Management Expense: $45,207
  • Other Expense: $42,634
  • Other Expense Description: On-Site
  • Trash Expense: $1,000
  • Water Sewer Expense: $25,525
  • Total Expenses: $351,958
Tax / Assessment Info
  • Tax Annual Amount: $186,000
  • Tax Tract Number: 12211
  • Tax Census Tract: 2195.00
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 83
Community / Development
Community / Development
  • Assessments YN: No
  • Assessments: None
  • Community Features: Sidewalks, Street Lights, Urban
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Dryer Included, Washer Included
  • Cooling: Central Air
  • Heating Type: Central
  • Heating: Central
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Landscaped, Level, Sprinkler System, Walkstreet
  • Number Of Units: 32
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Three Or More
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Garage: Assigned, Electric Vehicle Charging Station(s)
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: Assigned, Electric Vehicle Charging Station(s)
Unit Information
Unit 1
  • Unit Type Units Total: 8
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,097
  • Unit Type Total Rent: $16,778
  • Unit Type Pro Forma: 16778
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,557
  • Unit Type Total Rent: $2,557
  • Unit Type Pro Forma: 2557
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,422
  • Unit Type Total Rent: $9,687
  • Unit Type Pro Forma: 9687
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,806
  • Unit Type Total Rent: $11,222
  • Unit Type Pro Forma: 11222
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 5
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 0
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $3,053
  • Unit Type Total Rent: $15,263
  • Unit Type Pro Forma: 15263
  • Unit Type Type: 5
Unit 6
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 0
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,923
  • Unit Type Total Rent: $8,770
  • Unit Type Pro Forma: 8770
  • Unit Type Type: 6
Unit 7
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 0
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $3,122
  • Unit Type Total Rent: $9,365
  • Unit Type Pro Forma: 9365
  • Unit Type Type: 7
Unit 8
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 0
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $3,300
  • Unit Type Total Rent: $13,200
  • Unit Type Pro Forma: 13200
  • Unit Type Type: 8
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 33
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number With Dishwasher: 32
  • Number With Range: 32
  • Number With Refrigerator: 32
  • Number With Disposal: 32
  • Number Wall AC: 32

Property History for 3518 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 3518 Chesapeake Avenue

Taxable ValueLand$1,872,720Additions$4,220,000Total$6,092,720
Tax Record2024$75,119 ($6,260 / month)
Home Facts
Total Finished SqFt24,996 SqFtAbove Grade Finished SqFt24,996 SqFtLot Size6,403 SqFtStyleMulti-Family Res (5+ Units)Year Built2022ZoningLAR3CountyLOS ANGELESAPN5046-015-034

Schools near 3518 Chesapeake Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Coliseum Street Elementary School
Public - K to 5
Stella Middle Charter Academy
Charter - 5 to 8
Susan Miller Dorsey Senior High School
Public - 9 to 12
View Park Continuation School
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.

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More information about 3518 Chesapeake Avenue, Los Angeles, CA 90016

3518 Chesapeake Avenue is a multi-family home for sale in Los Angeles, CA 90016. This property was listed for sale on March 26, 2024 by Lee & Associates, it's currently listed at $14,675,000. It has been on the market for a total of 243 days and was last sold on October 18, 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. 3518 Chesapeake Avenue is a 10-bed, 17-bath, 28,948 sqft multi-family home built in 2023.

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 Lee & Associates, Warren Berzack, DRE #01329015

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.