3524 Chesapeake Avenue

Los Angeles, CA 90016

$11,250,000
Price
36
Beds
36
Baths
23,056 Sq. Ft.
$488 / Sq. Ft.
23,056
Sq. Ft.
$488
per Sq. Ft.

Description

Built in 2021: 27 luxury units with in-unit washer and dryer Priced below replacement cost at $488 PSF and under $417K per unit 5.3% cap rate and 5.7% cap rate at proven market rents One-block away from the Metro Expo "E" Line Farmdale Station, providing tremendous access to DTLA, Culver City, and Santa Monica Incredible micro-location with five brand-new buildings on the block Strong demographics with average household income over $100K and average housing value over $1.4M (three-mile radius) Rents...Built in 2021: 27 luxury units with in-unit washer and dryer Priced below replacement cost at $488 PSF and under $417K per unit 5.3% cap rate and 5.7% cap rate at proven market rents One-block away from the Metro Expo "E" Line Farmdale Station, providing tremendous access to DTLA, Culver City, and Santa Monica Incredible micro-location with five brand-new buildings on the block Strong demographics with average household income over $100K and average housing value over $1.4M (three-mile radius) Rents shown are averages based on in place rent as of Nov. 1, full rent roll in OM; see Agent Remarks for property website.
  1. Listed by Adrienne Barr • DRE #01308753 • Brokerage DRE #01308753 • Berkadia

Property Details for 3524 Chesapeake Avenue

Zoning
LAR3
Parcel Number
5046015033
Total Units
27.0
Living Area
23056
Source Living Area
Other
Area
Park Hills Heights (PHHT)
Vacancy Rate
3%
Lot Size Area
12812
LISTING UPDATED: 09/17/2024 04:35 PM

Property Details for 3524 Chesapeake Avenue

StatusActive
MLS #24-436897
Days on Market80
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built2021
Lot Size0.29 AC / 12,812 SF
CountyLos Angeles County

Building Information for 3524 Chesapeake Avenue

Stories4Residences-Year Built2021Building Size-Lot Size0.29 AC / 12,812 SF

Property Information for 3524 Chesapeake Avenue

Community / Development
Community / Development
  • Number Of Units: 27
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Seller
  • Number Of Stories: 4
  • Number Of Buildings: 1
  • Type Of Units: income
Contract Info
Contract Info
  • Disclosures: Rent Control
  • Listing Type: Exclusive Right To Sell
  • Service Level: Entry Only
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $853,886
  • Net Operating Income: $592,432.00
  • Gross Income: $778,928
  • Gross Rent Multiplier: $14.44
  • Total Annual Expense: 261454
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2941
  • Lot Size Square Feet: 12812
Parking Details
Parking Details
  • Parking Garage: Gated, Community Garage, Covered Parking, Side By Side
  • Total Parking: 16
  • Parking Features: Gated, Community Structure, Covered, Side by Side
Interior Features
Interior Features
  • Levels: Three Or More
  • Cooling: Central Air
  • Cooling Type: Central
  • Heating: Central
  • Heating Type: Central
  • Equipment: Dishwasher, Dryer, Washer, Range/Oven, Garbage Disposal, Refrigerator, Microwave
  • Laundry: In Unit
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 09-09-2024
  • Rent Control: Yes
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,387.00
  • Unit Actual Rent: $2,387.00
  • Unit Projected Rent: $2,450.00
  • Like Units: 18
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,439.00
  • Unit Actual Rent: $2,439.00
  • Unit Projected Rent: $2,990.00
  • Like Units: 9
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $273,409.00
  • Assessed Improvement Percent: 15.15
  • Assessed Land Value: $1,531,102.00
  • Assessed Land Percent: 84.85
  • Assessed Total Value: $1,804,511.00

Property History for 3524 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 3524 Chesapeake Avenue

Taxable ValueLand$1,840,604Additions$5,164,503Total$7,005,107
Tax Record2024$86,470 ($7,206 / month)
Home Facts
Total Finished SqFt23,358 SqFtAbove Grade Finished SqFt23,358 SqFtLot Size12,808 SqFtStyleMulti-Family Res (5+ Units)Year Built2020ZoningLAR3CountyLOS ANGELESAPN5046-015-033

Schools near 3524 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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3524 Chesapeake Avenue is a multi-family home for sale in Los Angeles, CA 90016. This property was listed for sale on September 9, 2024 by Berkadia, it's currently listed at $11,250,000. It has been on the market for a total of 80 days and was last sold on February 16, 2018. 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. 3524 Chesapeake Avenue is a 36-bed, 36-bath, 23,056 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 Berkadia, Adrienne Barr, DRE #01308753

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.