3500 Chesapeake Avenue Los Angeles, CA $ 10,795,000
3500 Chesapeake Avenue
$ 10,795,000
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3500 Chesapeake Avenue

Los Angeles, CA, 90016
$ 10,795,000
Baths0.0 Sq 20,449

Monthly Estimate*

$ 75,406

Listed by Compass
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Studio

Commercial Property for sale in Los Angeles, CA

for $10,795,000. This 20,449 square foot building was built in 2021 on a lot size of 0.3151.

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.

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Commercial Active

Price

$ 10,795,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 0

Style

MultiFamily

Lot Size

0.3151

Year Built

2021

Town/City

Los Angeles

County/Region

Los Angeles

MLS | Web ID

NP23104842

Days on Market

336

Features
General
Heating Central
Cooling CentralAir
Year Built 2021
Property SubType MultiFamily
Business Type Rental
Building Name Metropointe North
County Los Angeles
New Construction N
Property Type CommercialSale
HOA / Comm Assn N
Attached Garage N
Garage Y/N N
Building Features Elevators
Special Listing Conditions Standard
Status Active
Directions East on Obama left on Chesapeake.
City Los Angeles
View Y/N N
Senior Community Y/N N
Total Units 22
MLS Area PHHT - Park Hills Heights
Lot Size Square Feet 13727.0
Private Pool N
Waterfront Y/N N
Carport Y/N N
Street Name Chesapeake
Listing Terms Cash CashtoNewLoan Item1031Exchange
Property Attached Y/N N
Land Lease Y/N N
Home Warranty Y/N N
Current Financing Conventional
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Virtual Tour https://www.tourfactory.com/idxr3086449 https://www.tourfactory.com/3086449
Days on Market 229
Building Area Units SquareFeet
Standard Status Active
Occupancy Description Tenant
Year Built Source Estimated
Property Sub Type Additional MultiFamily
Cap Rate 4.1
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Exterior
Lot Features CornerLot
Water Source Public
Lot Size Area 13727.0
Number of Buildings 1
Spa N
Building Area Total 20449.0
Lot Size Acres 0.3151
Lot Size Units SquareFeet
Lot Size Source Estimated
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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Interior
Total Stories 5
Basement (Y/N) N
Air Conditioning Y/N Y
Heating Y/N Y
Fireplace Y/N N
Street Suffix Avenue
Laundry Features LaundryCloset
Entry Level 1
Electric On Property Y/N N
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Internal Only
Street Number 1 3500
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* Excluded Features
List By
Compass

Broker

(949) 322-7779

Phone

Affordability Calculator

$75,406
Per Month
100%
0%
0%
Monthly Principal & Interest
$75,406
Monthly Property Taxes
--
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
1/31/2024$10,795,000 -1.82% Price Down
6/17/2023$10,995,000 Listed Price

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3500 Chesapeake Avenue, Los Angeles, CA, 90016 is a Commercial Property for sale at $10,795,000 with 20,449 sqft and a lot size of 0.3151. 3500 Chesapeake Avenue is a studio with 0.0 baths and was built in 2021. The property's zip code is 90016 which is in Los Angeles, CA