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3530 Chesapeake Ave, Los Angeles, CA 90016
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3530 Chesapeake Ave Los Angeles, CA 90016

$11,250,000
  • 36 Beds
  • 36 Baths
  • 23,056 Sq.Ft.
For Sale
$11,250,000 Get Pre-Qualified
Map preview of 3530 Chesapeake Ave, Los Angeles, CA 90016

Property Overview: 3530 Chesapeake Ave Los Angeles, CA has 36 bedrooms, 36 bathrooms, 23,056 living square feet and 12,812 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: *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.

Listed by Adrienne Barr | BRE #01308753 | Berkadia
Last checked: 9 minutes ago | Last updated: September 17th, 2024 | Source CRMLS | DOM: 8

Home details

Lot Sq. Ft
12,812
HOA Dues
$0/mo
Year built
2021
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24436897
City
Los Angeles
County
Los Angeles
Time on Site
8 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 27
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 18
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,387
  • Total Rent: $2,387
  • Pro Forma/Market Rent: $2,450
Unit Breakdown 2
  • # of Units: 9
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,439
  • Total Rent: $2,439
  • Pro Forma/Market Rent: $2,990
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 14.44
  • Gross Scheduled Income: --
  • Net Operating Income: $592,432
  • Gross Operating Income: $853,886
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 3530 Chesapeake Ave

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Property Details for 3530 Chesapeake Ave

Interior Features
Cooling Information
  • Has Cooling
  • Central Air
Heating Information
  • Has Heating
  • Central
Laundry Information
  • Has Laundry
  • Washer Included, Dryer Included
Kitchen Information
  • Has Appliances
  • Dishwasher, Disposal, Microwave, Refrigerator
Interior Features
  • Levels: Three Or More
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 16
  • Has Parking
  • Parking Features: Gated, Community Structure, Covered, Side by Side
Property Information
  • Total # of Units: 27
  • Parcel Number: 5046015033
  • Year Built Source: Seller
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: On Chesapeake Avenue just south of Exposition Boulevard. One block away from the Farmdale Expo Line station.
View more facts & features

Local Los Angeles Agent

Sale History for 3530 Chesapeake Ave

Last sold for $850,000 on February 16th, 2018

  • September, 2024

  • Sep 9, 2024

    Date

    Active

    CRMLS: 24436897

    $11,250,000

    Price

  • March, 2022

  • Mar 3, 2022

    Date

    Canceled

    CRMLS: 21799184

    $11,995,000

    Price

  • Oct 26, 2021

    Date

    Active

    CRMLS: 21799184

    $12,500,000

    Price

  • Listing provided courtesy of CRMLS

    JUST REDUCED! The subject property is a luxury, brand new construction, 27 unit apartment complex located in the West Adams submarket of Los Angeles. Ideally situated on Chesapeake Ave (a quiet, residential street) and 3 doors down from Exposition Blvd (the Expo Line station is one block away). This 2021 constructed building has pristine units, an incredible unit mix and views from most units. The property boasts Eighteen 1 bedroom, 1 bathroom units, and Nine 2 bedroom, 2 bathroom units (3 of which are deemed affordable). Amenities include common area benches and tables, and a gym. 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 and balconies as well as all the modern conveniences of living in a brand new building.

  • February, 2018

  • Feb 16, 2018

    Date

    Sold (Public Records)

    Public Records

    $850,000

    Price

  • May, 2005

  • May 9, 2005

    Date

    Sold (Public Records)

    Public Records

    --

    Price

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Tax History for 3530 Chesapeake Ave

Assessed Value (2020): $1,716,660
Year Land Value Improved Value Assessed Value
2020 $1,456,560 $260,100 $1,716,660

Home Value Compared to the Market

This property vs the competition

3530 Chesapeake Ave is listed 837.5% higher than the median list price for the city of Los Angeles which has a median list price of $1,200,000. The median price per/sqft for Los Angeles is $766 and this home is listed at $487.94 per/sqft which puts the price per square foot 36.3% lower than the median price per square foot for the city of Los Angeles.

About 3530 Chesapeake Ave

Detailed summary of property

3530 Chesapeake Ave is a multi family located in Los Angeles, CA 90016 and is currently for sale. This multi family property offers 36 bedrooms, 36 bathrooms, roughly 23,056 living square feet, and sits on an approximately 12,812 square foot lot. 3530 Chesapeake Ave was first listed on ArdentRealEstateGroup.com on September 9, 2024. The homeowner is currently asking $11,250,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $766. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 837.5% higher than the median priced home. Local competing homes currently for sale include 1326 Londonderry View Dr, 1903 Orchid Ave and 2041 N Vermont Ave. While the average home in Los Angeles, CA is selling in 104 days, 3530 Chesapeake Ave has a days on market of 8 days. There are currently 4084 homes for sale in the Los Angeles real estate market and 2797 of them are single family homes while 1162 of them are condos and 119 are townhomes. For more information on this home for sale at 3530 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 3530 Chesapeake Ave

Public county record property details
Beds
7
Baths
5
Year built
1944
Sq. Ft.
3,430
Lot Size
--
Stories
--
Type
Duplex (2 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
81,82
APN
5046-015-033

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
$1,000,000
Median List Price/Sq.Ft.
$708
Median Sold Price
$1,012,000
Median Sold Price/Sq.Ft.
$691
Total Inventory
82
Median Sale to List Price %
101.2%
Avg Days on Market
35
Loan Type
Conventional (17.65%), FHA (0%), VA (0%), Cash (11.76%), Other (0%)

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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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