Entitled Affordable Multifamily
For Sale
$2,795,000
3556 Chesapeake Ave, Los Angeles, CA 90016
Entitled 61-unit, 5-story affordable housing project on a double lot, delivered fully entitled and ready to finalize documents.
Property Size35,781 SF
Lot Size0.29 Acres
Price / SF$78.11
Days on Market60
Property Features for 3556 Chesapeake Ave
General Information
Standard status
Active
Size
35,781 SF
Lot size
0.29 Acres
Property subtype
LAND
Zoning
R3-1
Additional Details
Road Access
Yes
Multifamily Units
61
Building Details
Stories
5
Listing Agency:
Keller Williams Beverly Hills
Listed By:
Dario Svidler · License #01884474
(310) 432-6400
Source:
Rochellemaize
Added: Jul 9
Changed: Sep 2
Last Checked: Sep 5 at 4:55AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Beverly Hills
Investment Insights
Based on property information with market context.
Entitled 100% privately funded affordable housing project for sale featuring a double lot at 3556 & 3562 Chesapeake Avenue. The offering is a 5-story residential building with 61 units comprising 55 one-bedrooms, 4 two-bedrooms, and 2 three-bedrooms, totaling approximately 26,071 SF of rentable square footage and 35,781 SF of gross floor area. The property is an R3-1 lot of 12,814 SF. The project is entitled under Executive Directive 1 (ED1), leveraging incentives referenced in the offering including AB 1763, AB 2345, and AB 2334, with a zero on-site parking requirement due to proximity to a major transit stop. The seller states the project will be delivered fully entitled, and it will not be submitted to plan check by the seller, allowing the incoming developer to complete construction documents to their specifications.
The site is described as located in the West Adams / Jefferson Park neighborhood, with immediate access to the Metro E Line and the Exposition business corridor. The property is positioned near the Rancho Cienega Recreation Center and Dorsey Senior High School.
The architect has stated the project is scalable to 79 units and 6 floors without impacting the approval timeline. The offering also notes the possibility of rehabbing existing units on site (delivered vacant) to potentially generate cash flow while awaiting the right time to build.
The site is described as located in the West Adams / Jefferson Park neighborhood, with immediate access to the Metro E Line and the Exposition business corridor. The property is positioned near the Rancho Cienega Recreation Center and Dorsey Senior High School.
The architect has stated the project is scalable to 79 units and 6 floors without impacting the approval timeline. The offering also notes the possibility of rehabbing existing units on site (delivered vacant) to potentially generate cash flow while awaiting the right time to build.
Key Highlights
- Entitled 61‑unit, 5‑story affordable housing development on double lot at 3556 & 3562 Chesapeake Ave.
- Unit mix includes 55 one‑bedrooms, 4 two‑bedrooms, and 2 three‑bedrooms, totaling approximately 26,071 SF RSF.
- Site totals 12,814 SF on R3‑1 zoning with approximately 35,781 SF gross floor area.
Property Analytics
Property Profile
Current Use
Lease Details
61
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,586
Businesses Nearby
Explore this area
Business Placement
Demographics for 90016, CA
46,512
Population
19,529
Households
2.4
Avg Household Size
37
Median Age
32%
College-Educated
79%
High-School Grad
3.6 sq mi
ZIP Area
12,920
Density / Sq Mi
$71,067
Median Household Income
$42,292
Median Earnings
$1,729
Median Rent
$919,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Entitled 61-unit, 5-story affordable housing project on a double lot, delivered fully entitled and ready to finalize documents.
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, 5‑story affordable housing development on double lot at 3556 & 3562 Chesapeake Ave.; Unit mix includes 55 one‑bedrooms, 4 two‑bedrooms, and 2 three‑bedrooms, totaling approximately 26,071 SF RSF.; Site totals 12,814 SF on R3‑1 zoning with approximately 35,781 SF gross floor area.
