3434 Chesapeake Avenue, Los Angeles
Los Angeles Home For Sale
PRICE REDUCED! We are pleased to present a 100% vacant land development opportunity located in the heart of West Adams! Totaling +/-9,180sf of LARD1.5 Tier 3 TOC land, a new owner has the ability to capitalize on various exit strategies that include the following: 1) Current RTI plans for a market rate 10-unit + 2 ADU multi-family for- rent building, 2) 100% affordable housing up to 50 units (feasibility study available on request), 3) Subdivision for 4-6 homes, or 4) Multiple duplex style build yielding 6-10 large units. Located just steps away from the trendy Jefferson Blvd corridor that includes numerous amenities such as Highly Likely (local cafe) and the soon-to-be Maydan Market (food hall) that includes Michelin Star connected restaurant Compass Rose. Being just 0.1 miles away, a 3-minute walk, from the Farmdale Metro Rail Line station, tenants have the ability to easily access Santa Monica, Culver City, USC, LAX, and Downtown LA. Ownership has plans in place for a market rate 10-unit + 2 ADU development that can be included in a sale. As a 100% affordable ED1 development, there's potential for up to 50 units with no parking requirements and an affordable stick on grade type construction. With its Opportunity Zone location, the property is well positioned for a developer seeking a well-located property with high rental demands that is nearby significant employment opportunities. Buyer shall complete their own due diligence to determine the development potential.
Property Details
Additional Information
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- City:
- Los Angeles
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- County:
- Los Angeles
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- Zip:
- 90016
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- MLS® #:
- 24394841
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- Lot Size:
- 0.21
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- HOA Dues:
- $
Price Change History for 3434 Chesapeake Avenue, Los Angeles, (MLS® #24394841)
| Date | Details | Price | Change |
|---|---|---|---|
| Price Reduced | $1,750,000 | $145,000 (7.65%) | |
| Price Reduced (from $1,995,000) | $1,895,000 | $100,000 (5.01%) |
Based on information from California Regional Multiple Listing Service, Inc. as of August 15th, 2024 at 2:55pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.