Entitled Affordable Housing Development
3556 Chesapeake Ave Los Angeles, CA 90016
3556 Chesapeake Ave, Los Angeles, CA, 90016
$2,795,000
For Sale
$2,795,000
LAND - Los Angeles, CA
Property Size26,071 SF
Lot Size0.29 Acres
Price / SF$107.21
Days on Market10
Property Features for 3556 Chesapeake Ave
General Information
- Property type
- Land
- Property subtype
- Other
- Zoning
- R3-1 TOIA 2
- Standard status
- Active
- APN
- 5046-015-019
- Lot size
- 0.29 Acres
Listing Agency
Keller Williams Beverly Hills
(310) 432-6400
439 N Canon Dr. Suite 300, Beverly HIlls, CA
Listed by
Dario Svidler · License #01884474
(424) 600-7633
Added: Jul 9 Checked: Jul 18 at 2:06 am
MLS# 26857949
Listing URL
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Investment Insights
Based on property information with market context.
The offering is a double-lot development site at 3556 and 3562 Chesapeake Ave. The property is presented as an entitled 61-unit, 100% affordable housing project configured as a five-story residential building. The planned unit mix consists of 55 one-bedrooms, 4 two-bedrooms, and 2 three-bedrooms, with approximately 26,071 square feet of rentable area and 35,781 square feet of gross floor area.
The site totals 12,814 square feet and is zoned R3-1 under TOIA 2. The development is described as entitled under Executive Directive 1 (ED1) as a privately funded affordable housing community. The seller notes the project is fully entitled and that the project will not be submitted to Plan Check by the seller, allowing an incoming developer to finalize construction documents to their specifications.
For developers, this site provides a ready-to-proceed path with entitlement already in place for the 61-unit building. The architect has stated the project is scalable to 79 units and 6 floors without impacting the approval timeline. The seller also indicates the possibility of rehabbing existing units on site, delivered vacant, as an interim strategy while awaiting the right time to build.
The site totals 12,814 square feet and is zoned R3-1 under TOIA 2. The development is described as entitled under Executive Directive 1 (ED1) as a privately funded affordable housing community. The seller notes the project is fully entitled and that the project will not be submitted to Plan Check by the seller, allowing an incoming developer to finalize construction documents to their specifications.
For developers, this site provides a ready-to-proceed path with entitlement already in place for the 61-unit building. The architect has stated the project is scalable to 79 units and 6 floors without impacting the approval timeline. The seller also indicates the possibility of rehabbing existing units on site, delivered vacant, as an interim strategy while awaiting the right time to build.
Key Highlights
- Entitled 61‑unit, 100% affordable housing project on double lot at 3556 & 3562 Chesapeake Ave.
- Site size: 12,814 SF R3‑1 lot; development is a 5‑story residential building totaling approx. 26,071 SF rentable and 35,781 SF GFA.
- Unit mix: 55 one‑bedrooms, 4 two‑bedrooms, and 2 three‑bedrooms.
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FAQs
What type of property is this?
Apartment building - Entitled double-lot site for a 61-unit affordable housing building with 100% privately funded approval status.
Where is this apartment building located?
The property is located at 3556 Chesapeake Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,795,000.
What are key features of this property?
This property features: Entitled 61‑unit, 100% affordable housing project on double lot at 3556 & 3562 Chesapeake Ave.; Site size: 12,814 SF R3‑1 lot; development is a 5‑story residential building totaling approx. 26,071 SF rentable and 35,781 SF GFA.; Unit mix: 55 one‑bedrooms, 4 two‑bedrooms, and 2 three‑bedrooms.
