3524 Chesapeake Ave - Apartments FOR SALE


Los Angeles, CA 90016- Crenshaw
$10,500,000 USD
310-470-8963
3524 Chesapeake Ave, Los Angeles, CA for Sale
$10,500,000 USD
Apartments - FOR SALE
1/9
null | 5.2% Cap Rate

3524 Chesapeake Ave
Los Angeles, CA 90016
Crenshaw


HIGHLIGHTS

  • PRICE REDUCED $750,000
  • Built in 2021: 27 luxury units with in-unit washer and dryer
  • Priced far below replacement cost at $455 PSF and $388K per unit
  • 5.2% cap rate and 6.1% 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 six brand-new buildings on the block; Strong Demos: $100K Avg HHI and $1.4M Avg Home Value (3-mi radius)

OVERVIEW

PROPERTY WEBSITE: https://properties.berkadia.com/metro-pointe-south-466257 PRICED REDUCED by $750,000 | Priced Far Below Replacement Cost at $455 psf and $388k per unit We are excited to exclusively offer for sale, Metropointe South at 3524 Chesapeake Avenue, a newly constructed 27-luxury unit apartment community located in a prime Los Angeles location adjacent to Baldwin Hills with close proximity to Culver City, Playa Vista, Santa Monica, West Adams, and downtown Los Angeles. Ideally situated on a quiet residential street, MP South @ 3524 Chesapeake is one block away from the Farmdale Expo Line station, providing superb transportation access to the surrounding areas and employment hubs. The area has undergone a major economic renaissance during the past decade with development as the driving force. The property sits in an incredible micro-location with six brand-new buildings on the block, and several new apartment and mixed-use developments in the immediate area are contributing to the overwhelming increase in the demand for high-end rental units and retail. Built in 2021, this beautifully maintained property features a unit mix of one-, and two-bedrooms, many with city views. The condominium-style units are bright and airy, featuring in-unit washer/dryer, wood-style flooring, kitchens with quartz countertops and stainless-steel appliances, modern cabinetry and breakfast bar/dining area. Building amenities include an inviting entry lobby, fitness center, elevator, large bike storage room, controlled access entry and gated parking (16 side-by-side spaces).

FOR SALE DETAILS

PRICE

$10,500,000 USD

PRICE/SF

$455 USD /SF

# OF UNITS

27

PRICE/UNIT

$388,889

CAP RATE

5.2%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Price Reduced $750K | $388K/u | 27u | 2021 YB

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2021

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,632 SF

ZONING

R3-1 Tier 3

APN/PARCEL ID

5046-015-033

ASK ABOUT THIS PROPERTY

Adrienne BarrBerkadiaMore Info
310-470-8963

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Adrienne BarrBerkadiaMore Info
310-470-8963

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.