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3520 Chesapeake Ave, Los Angeles, CA 90016
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3520 Chesapeake Ave Los Angeles, CA 90016

$15,500,000
  • 38 Beds
  • 17 Baths
  • 23,002 Sq.Ft.
For Sale
$15,500,000 Get Pre-Qualified
Map preview of 3520 Chesapeake Ave, Los Angeles, CA 90016

Property Overview: 3520 Chesapeake Ave Los Angeles, CA has 38 bedrooms, 17 bathrooms, 23,002 living square feet and 12,824 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: 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.

Listed by Warren Berzack | BRE #01329015 | Lee & Associates
Last checked: 2 minutes ago | Last updated: March 29th, 2024 | Source CRMLS | DOM: 23
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Home details

Lot Sq. Ft
12,824
HOA Dues
$0/mo
Year built
2023
Garage
--
Property Type:
Apartment
Status
Active
MLS#
SR24061953
City
Los Angeles
County
Los Angeles
Time on Site
30 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 32
  • Total # of Buildings: 1
  • # of Electric Meters: 33
  • # of Gas Meters: 1
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 3
  • # of Beds: 2
  • # of Baths: 0
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,323
  • Total Rent: $9,970
  • Pro Forma/Market Rent: $9,970
Unit Breakdown 2
  • # of Units: 4
  • # of Beds: 2
  • # of Baths: 0
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,561
  • Total Rent: $14,244
  • Pro Forma/Market Rent: $14,244
Unit Breakdown 3
  • # of Units: 8
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,097
  • Total Rent: $16,778
  • Pro Forma/Market Rent: $16,778
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,557
  • Total Rent: $2,557
  • Pro Forma/Market Rent: $2,557
Unit Breakdown 5
  • # of Units: 4
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,423
  • Total Rent: $9,690
  • Pro Forma/Market Rent: $9,690
Unit Breakdown 6
  • # of Units: 4
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,806
  • Total Rent: $11,224
  • Pro Forma/Market Rent: $11,224
Unit Breakdown 7
  • # of Units: 5
  • # of Beds: 2
  • # of Baths: 0
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,262
  • Total Rent: $16,310
  • Pro Forma/Market Rent: $16,310
Unit Breakdown 8
  • # of Units: 3
  • # of Beds: 2
  • # of Baths: 0
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,666
  • Total Rent: $7,998
  • Pro Forma/Market Rent: $7,998
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.76%
  • Gross Rent Multiplier: 13.23
  • Gross Scheduled Income: $1,171,620
  • Net Operating Income: $737,912
  • Gross Operating Income: $1,136,471
  • Vacancy Allowance: $35,149
Annual Expense Breakdown
  • Total Operating Expense: $398,559
  • Electric: $3,000
  • Gas/Fuel: $3,000
  • Licenses: $3,173
  • New Taxes: $186,000
  • Trash: $1,000
  • Insurance: $12,500
  • Maintenance: $29,530
  • Professional Management: $46,724
  • Water/Sewer: $35,456

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Property Details for 3520 Chesapeake Ave

Interior Features
Cooling Information
  • Has Cooling
  • Central Air
Heating Information
  • Has Heating
  • Central
Laundry Information
  • Has Laundry
  • Dryer Included, Washer Included
Interior Features
  • Levels: Three Or More
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
  • Parking Features: Assigned, Electric Vehicle Charging Station(s)
Lot Information
  • Lot Features: Landscaped, Level, Sprinkler System, Walkstreet
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 32
  • Parcel Number: 5046015027
  • Year Built Source: Builder
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Assessment Information
  • No Assessments
  • Assessments: None
Location / Neighborhood
Location Information
  • Directions: Exposition south of the 10
Neighborhood Information
  • Community Features: Sidewalks, Street Lights, Urban
View more facts & features

Local Los Angeles Agent

Sale History for 3520 Chesapeake Ave

Last sold for $396,000 on November 26th, 2013

  • March, 2024

  • Mar 28, 2024

    Date

    Active

    CRMLS: SR24061953

    $15,500,000

    Price

  • November, 2013

  • Nov 26, 2013

    Date

    Sold (Public Records)

    Public Records

    $396,000

    Price

Show More

Tax History for 3520 Chesapeake Ave

Assessed Value (2020): $443,646
Year Land Value Improved Value Assessed Value
2020 $331,559 $112,087 $443,646

Home Value Compared to the Market

This property vs the competition

3520 Chesapeake Ave is listed 1154.05% higher than the median list price for the city of Los Angeles which has a median list price of $1,236,000. The median price per/sqft for Los Angeles is $773 and this home is listed at $673.85 per/sqft which puts the price per square foot 12.83% lower than the median price per square foot for the city of Los Angeles.

About 3520 Chesapeake Ave

Detailed summary of property

3520 Chesapeake Ave is a apartment located in Los Angeles, CA 90016 and is currently for sale. This apartment offers 38 bedrooms, 17 bathrooms, roughly 23,002 living square feet, and sits on an approximately 12,824 square foot lot. 3520 Chesapeake Ave was first listed on ArdentRealEstateGroup.com on March 28, 2024. The homeowner is currently asking $15,500,000. The median priced home in Los Angeles is $1,236,000 with a median price per square foot of $773. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 1154.05% higher than the median priced home. Local competing homes currently for sale include 3100 Quartz Ln. While the average home in Los Angeles, CA is selling in 96 days, 3520 Chesapeake Ave has a days on market of 23 days. There are currently 3487 homes for sale in the Los Angeles real estate market and 2373 of them are single family homes while 1015 of them are condos and 93 are townhomes. For more information on this home for sale at 3520 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 3520 Chesapeake Ave

Public county record property details
Beds
4
Baths
3
Year built
1944
Sq. Ft.
2,069
Lot Size
6,403
Stories
--
Type
Duplex (2 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
83
APN
5046-015-027

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
$1,150,000
Median List Price/Sq.Ft.
$774
Median Sold Price
$955,000
Median Sold Price/Sq.Ft.
$651
Total Inventory
73
Median Sale to List Price %
100%
Avg Days on Market
28
Loan Type
Conventional (26.67%), FHA (0%), VA (0%), Cash (13.33%), Other (33.33%)

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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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