Entitled Affordable Housing Development
For Sale
$2,795,000
3556 Chesapeake Ave, Los Angeles, CA 90016
Land, Los Angeles, CA
Property Size26,071 SF
Lot Size0.29 Acres
Price / SF$107.21
Days on Market52
Property Features for 3556 Chesapeake Ave
General Information
Property type
Land
Property subtype
Other
Zoning
R3-1 TOIA 2
Directions
Between Exposition Blvd. and Obama Blvd., by the Farmdale Metro Station.
Subdivision
Park Hills Heights
Standard status
Active
APN
5046-015-019
Lot size
0.29 Acres
Listing Agency:
Keller Williams Beverly Hills · Keller Williams Realty
(310) 432-6400
Listed By:
Dario Svidler · License #01884474
(424) 600-7633
Added: Jul 9
Changed: Aug 19
Last Checked: Aug 29 at 7:06AM
MLS# 26857949
Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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.
Property Analytics
Property Profile
Current Use
Lease Details
61
Residential units
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Entitled double-lot site for a 61-unit affordable housing building with 100% privately funded approval status.
Where is this residential land & home lot 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.
