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    3500 Chesapeake Ave

    Los Angeles, CA 90016
    • $10,000,000
    • STATUS: Active
    • ON SITE: 24 days
    • MLS #: 21-779590
    $10,000,000
    • 37
      BEDS
    • 0.32
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 20,449
      SQFT
    • $489
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    2021
    County:

    School Ratings & Info

    Description

    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.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-26T23:42:28.45. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.jelmbergteam.com/homes/121054390
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    3500 Chesapeake Ave Los Angeles, CA 90016

    • Price: $10,000,000
    • Status: Active
    • MLS #: 21-779590
    37
    Beds
    0
    Baths
    0
    ½ Baths
    0.32
    Acres
    20,449
    SQFT
    $489
    $/SQFT
    2021
    Built
    Neighborhood:
    Park Hills Heights
    County:
    Los Angeles
    Area:
    Park Hills Heights
    Property Description
    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.
    Exterior Features

    Lot Size Area 13727 Other Structures None Parking Garage Gated Total Parking 19

    Interior Features

    Baths Total 32.00 Cooling None Equipment None Heating None

    Property Features

    Assessed Total Value 1820700 Gross Income 589668 Gross Operating Income 571978 Like Units1 8 Like Units2 3 Like Units3 7 Like Units4 1 Like Units5 3 Net Operating Income 400939.00 Number Of Buildings 1 Number Of Units 22 Sale Type Standard Source Living Area Builder Source Lot Size Area Vendor Enhanced Total Annual Expense 171039 Type Of Units Apartments Year Built Source Builder Zoning Lar3

    Listing provided courtesy of Morgan Mcmullin DRE#01716570 of Compass.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-26T23:42:28.45. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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    Palm Desert CA, 92211