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Tricia Mcmullan

tricia.mcmullan@redfin.com +1(626) 318-7433

$ 12,595,000

Est. payment -/mo

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Active

3518 Chesapeake AVE Los Angeles, CA 90016

38 Beds

47 Baths

28,473 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 28,473 sqft

Price per Sqft $442

MLS Listing ID 26829517

Bedrooms 38

HOA Y/N No

Year Built 2023

Lot Size 0.294 Acres

Property Description

REDUCED! Fully Rented! We are proud to present for sale The Peake, a 32 Unit Apartment Community in vibrant West Adams. The property is located at 3518 Chesapeake Ave. (a quiet, residential tree-lined street), in a neighborhood quickly undergoing a transformation, full of new construction! With a Certificate of Occupancy from 2023, the building features all the modern systems and conveniences your future tenants have come to expect, from spacious units with new appliances to manicured common areas and a comfortable gym, to the tremendous convenience of being just a hop and a skip to the Farmdale Metro Expo (E) Station, just one block away! Featuring controlled access, in-unit laundry, sleek designs, some apartments with balconies, bicycle parking and 19 vehicle parking spaces, the property backs up to a vast single family-zoned area, with low-rise homes, unobstructed views and easier street parking. The property offers additional income, such as parking and storage fees charged independently of rents, along with EV Charging, TV and Internet service, which is billed directly to tenants along with RUBS. The property boasts fifteen 2 bed + 2 bath, eight 1 bed + 1 bath and nine studio units, ranging from 475 to 966 SF. There are three restricted units reserved for affordable housing. 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 building is a stone's throw to the Rancho Cienega Recreation Center and Dorsey Senior High School. Take the Metro to USC or Culver City, continue on to Downtown LA or Santa Monica! The area features tons of new restaurants, cafes, markets and much more! It is hard to keep track of what has opened and what is in the planning to open in the near future! A Brand New 36 Unit Apartment Building on the southern corner of the block is also available and may be purchased together with this property!

Location

State CA

County Los Angeles

Area Phht - Park Hills Heights

Zoning R3

Interior

Heating Central

Cooling Central Air

Fireplace No

Appliance Dishwasher, Refrigerator, Dryer, Washer

Exterior

Parking Features Covered, Gated

Community Features Gated

Total Parking Spaces 19

Building

Story 4

Entry Level Three Or More

Level or Stories Three Or More

New Construction No

Others

Senior Community No

Tax ID 5046015034

Security Features Gated Community

Special Listing Condition Standard

Virtual Tour https://drive.google.com/file/d/1DvfWJjzQXg-OHDwr_z5te9oTXrxTJTnZ/view

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Listed by Dario Svidler Keller Williams Beverly Hills #01884474