3518 Chesapeake Avenue
Los Angeles, CA, 90016 $ 15,500,000
Bedrooms38 Baths4.0 Sq 23,002 Monthly Estimate*
$ 108,272
Listed by Lee & Associates
for $15,500,000 with 38 bedrooms and 4 full baths. This 23,002 square foot home was built in 2023 on a lot size of 0.2944.
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.
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FeaturesGeneralSewer PublicSewer
Heating Central
Cooling CentralAir
Appliances Dryer Washer
Zoning LAR3
HOA 0.0
Garage Spaces 0.0
Pool Features None
Year Built 2023
Tenant Pays AllUtilities
Levels ThreeOrMore
Property SubType Apartment
Gross Income 1171620.0
Community Features StreetLights Sidewalks Urban
County Los Angeles
Net Operating Income 737912.0
Operating Expense 398559.0
Insurance Expense 12500.0
New Construction N
Property Type ResidentialIncome
HOA / Comm Assn N
Attached Garage N
Garage Y/N N
Special Listing Conditions Standard
Status Active
Directions Exposition south of the 10
City Los Angeles
Entry Location 1
View Y/N N
Senior Community Y/N N
Total Units 32
MLS Area 699 - Not Defined
Lot Size Square Feet 12824.0
Private Pool N
Waterfront Y/N N
Carport Y/N N
Street Name Chesapeake
Listing Terms Cash CashtoNewLoan
Property Attached Y/N Y
Land Lease Y/N N
Tax Annual Amount 186000.0
Electric Expense 3000.0
Home Warranty Y/N N
Fuel Expense 3000.0
Trash Expense 1000.0
Water Sewer Expense 35456.0
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Days on Market 0
Building Area Units SquareFeet
Standard Status Active
Year Built Source Builder
Tax Lot 83
Property Sub Type Additional Apartment
Taxes 186000.0
Cap Rate 4.76
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ExteriorParking Features Assigned ElectricVehicleChargingStations
Lot Features Landscaped Level SprinklerSystem Walkstreet
Water Source Public
Total Parking 0.0
Lot Size Area 12824.0
Number of Buildings 1
Spa N
Building Area Total 23002.0
Lot Size Acres 0.2944
Lot Size Units SquareFeet
Lot Size Source Assessor
Number of Separate Water Meters 1
Number of Separate Gas Meters 1
Number of Separate Electric Meters 33
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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InteriorTotal Stories 4
Common Walls Item2CommonWalls
Basement (Y/N) N
Air Conditioning Y/N Y
Heating Y/N Y
Fireplace Y/N N
Street Suffix Avenue
Entry Level 1
Electric On Property Y/N N
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* Excluded FeaturesAffordability Calculator
- Monthly Principal & Interest
- $108,272
- Monthly Property Taxes
- $15,500
- 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.
Learn more about how to save NearbyMulti-family listings in Los Angeles, CA
Average List Price $2,000,821
Percent of Sale Price 87%
About Los Angeles, CA 3,920,026 Population
6% Since 2002
$ 55,057 Median Income
36.82 Median Age
27% Households with Children
Trends Information provided by ATTOM Data Solutions.
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 3/29/2024 | $15,500,000 | | Listed Price |