3500 Chesapeake Ave, Los Angeles, CA 90016

Property Description

The subject property is a luxury, brand new construction, 22 unit apartment complex. This 2021 constructed building has pristine units, an incredible unit mix and views from most units. The property boasts eight 1 bedroom, 1 bathroom units, four 2 bedroom, 1 bathroom units, nine 2 bedroom,2bathroom units and one 3 bedroom, 2 bath unit. The property has recently begun lease-up and already has 11 units rented. Three units are designated low income. The densely populated location ensures expeditious lease up and the luxurious units allow for tenant comfort and investor stability. The area has undergone a major economic renaissance during the past decade with development as the driving force. The new apartment and mixed use developments in the immediate area have provided an overwhelming increase in the demand for high end rental units and retail. The central courtyard building also has an oversized side yard on the southern side of the building. Tenants have access to a bike closet for bike storage and there is a pristine, inviting entryway with the elevator. All units have washer and dryers, central air and heat and balconies as well as all the modern conveniences of living in a brand new building. All market rate tenants have parking.