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3506 Chesapeake Ave, Los Angeles, CA 90016
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3506 Chesapeake Ave Los Angeles, CA 90016

$10,795,000
  • 37 Beds
  • 33 Baths
  • 20,449 Sq.Ft.
For Sale
$10,795,000 Get Pre-Qualified
Map preview of 3506 Chesapeake Ave, Los Angeles, CA 90016

Property Overview: 3506 Chesapeake Ave Los Angeles, CA has 37 bedrooms, 33 bathrooms, 20,449 living square feet and 13,727 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 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.

Listed by Tim Robertson | BRE #01413500 | Compass
Last checked: 2 minutes ago | Last updated: February 1st, 2024 | Source CRMLS | DOM: 312
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Home details

Lot Sq. Ft
13,727
HOA Dues
$0/mo
Year built
2021
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
NP23104842
City
Los Angeles
County
Los Angeles
Time on Site
334 days
Property Unit Breakdown
Unit Mix Summary
  • Total # of Units: 22
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 8
  • # of Beds: 1
  • # of Baths: 1
  • Actual Rent: $2,045
  • Total Rent: --
Unit Breakdown 2
  • # of Units: 3
  • # of Beds: 2
  • # of Baths: 1
  • Actual Rent: $2,575
  • Total Rent: --
Unit Breakdown 3
  • # of Units: 7
  • # of Beds: 2
  • # of Baths: 2
  • Actual Rent: $2,645
  • Total Rent: --
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Actual Rent: $2,745
  • Total Rent: --
Unit Breakdown 5
  • # of Units: 3
  • # of Beds: 2
  • # of Baths: 2
  • Actual Rent: $1,000
  • Total Rent: --
Property Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.1%
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $646,452
  • Net Operating Income: --
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 3506 Chesapeake Ave

Interior Features
Cooling Information
  • Has Cooling
  • Central Air
Heating Information
  • Has Heating
  • Central
Laundry Information
  • In Closet
Lot Details / Garage and Parking
Lot Information
  • Lot Features: Corner Lot
  • Lot Size Source: Estimated
  • Common Interest: None
Property Information
  • Total # of Units: 22
  • Parcel Number: 5046015032
  • Year Built Source: Estimated
  • Entry Level: 1
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: East on Obama, left on Chesapeake.
View more facts & features

Local Los Angeles Agent

Sale History for 3506 Chesapeake Ave

Last sold for $9,950,000 on November 16th, 2021

  • June, 2023

  • Jun 17, 2023

    Date

    Active

    CRMLS: NP23104842

    $10,995,000

    Price

  • June, 2023

  • Jun 1, 2023

    Date

    Expired

    CRMLS: NP22241584

    $2,750

    Price

  • Nov 15, 2022

    Date

    Active

    CRMLS: NP22241584

    $2,545

    Price

  • Listing provided courtesy of CRMLS

    West Adams is close to world-class dining and entertainment, plus within 30 minutes of downtown and the beaches, making it one of the most convenient LA neighborhoods. Just one block from the Farmdale Expo Line Station provides easier access to LAX, El Segundo and Redondo Beach. Lastly, just five miles south, the $3.0 billion SoFi Stadium development provides abundant job opportunities. The building has a central courtyard and an oversized yard on the southern side of the building. You have access to a closet for bike storage and there is a pristine, inviting entryway with an elevator. Enjoy the indoor washer and dryer, central air and heat and balconies as well as all the modern conveniences of living in a brand new building.

  • November, 2021

  • Nov 16, 2021

    Date

    Sold

    CRMLS: 21778814

    $9,950,000

    Price

  • Aug 13, 2021

    Date

    Active

    CRMLS: 21778814

    $10,000,000

    Price

  • Listing provided courtesy of CRMLS

    The subject property is a luxury, brand new construction, 22 unit apartment complex. This 2021 constructed building has pristine units, an incredible unit mix and views from most units. The property boasts eight 1 bedroom, 1 bathroom units, four 2 bedroom, 1 bathroom units, nine 2 bedroom, 2 bathroom units and one 3 bedroom, 2 bath unit. The property has recently begun lease-up and already has 11 units rented. Three units are designated low income. 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. 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, central air and heat and balconies as well as all the modern conveniences of living in a brand new building. All market rate tenants have parking.

  • September, 2021

  • Sep 3, 2021

    Date

    Active

    CRMLS: 21779590

    $10,000,000

    Price

  • Listing provided courtesy of CRMLS

    The subject property is a luxury, brand new construction, 22 unit apartment complex. This 2021 constructed building has pristine units, an incredible unit mix and views from most units. The property boasts eight 1 bedroom, 1 bathroom units, four 2 bedroom, 1 bathroom units, nine 2 bedroom,2bathroom units and one 3 bedroom, 2 bath unit. The property has recently begun lease-up and already has 11 units rented. Three units are designated low income. 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. 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, central air and heat and balconies as well as all the modern conveniences of living in a brand new building. All market rate tenants have parking.

  • February, 2018

  • Feb 1, 2018

    Date

    Sold (Public Records)

    Public Records

    $850,000

    Price

  • April, 2013

  • Apr 22, 2013

    Date

    Sold (Public Records)

    Public Records

    --

    Price

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Tax History for 3506 Chesapeake Ave

Assessed Value (2020): $1,820,700
Year Land Value Improved Value Assessed Value
2020 $1,456,560 $364,140 $1,820,700

Home Value Compared to the Market

This property vs the competition

3506 Chesapeake Ave is listed 764.29% higher than the median list price for the city of Los Angeles which has a median list price of $1,249,000. The median price per/sqft for Los Angeles is $774 and this home is listed at $527.9 per/sqft which puts the price per square foot 31.8% lower than the median price per square foot for the city of Los Angeles.

About 3506 Chesapeake Ave

Detailed summary of property

3506 Chesapeake Ave is a multi family located in Los Angeles, CA 90016 and is currently for sale. This multi family property offers 37 bedrooms, 33 bathrooms, roughly 20,449 living square feet, and sits on an approximately 13,727 square foot lot. 3506 Chesapeake Ave was first listed on ArdentRealEstateGroup.com on June 17, 2023. The homeowner is currently asking $10,795,000 and was originally asking $10,995,000. The median priced home in Los Angeles is $1,249,000 with a median price per square foot of $774. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 764.29% higher than the median priced home. Local competing homes currently for sale include 9150 Hyssop Dr, 2234 W Glen Helen Rd and 6510 Box Springs Blvd. While the average home in Los Angeles, CA is selling in 94 days, 3506 Chesapeake Ave has a days on market of 312 days. There are currently 3654 homes for sale in the Los Angeles real estate market and 2456 of them are single family homes while 1102 of them are condos and 90 are townhomes. For more information on this home for sale at 3506 Chesapeake Ave Los Angeles, CA 90016 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 3506 Chesapeake Ave

Public county record property details
Beds
8
Baths
4
Year built
1944
Sq. Ft.
3,196
Lot Size
13,727
Stories
--
Type
Duplex (2 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
85,86
APN
5046-015-032

The source for these homes facts are from public records.

90016 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,060,000
Median List Price/Sq.Ft.
$740
Median Sold Price
$885,000
Median Sold Price/Sq.Ft.
$699
Total Inventory
76
Median Sale to List Price %
98.44%
Avg Days on Market
30
Loan Type
Conventional (21.05%), FHA (0%), VA (0%), Cash (10.53%), Other (10.53%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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