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32 Units in West Adams • $406k/Door & $457/SF 3518 Chesapeake Ave 32 Unit Apartment Building $17,664,010 CAD ($552,000 CAD/Unit) 5.44% Cap Rate Los Angeles, CA 90016
Investment Highlights
- 2023 Certificate of Occupancy
- Balconies and Common Area Open Spaces - Car and Bicycle Parking
- Metro Station One Block Away
- TV, Internet, Parking, EV Charging & Storage Income. RUBS - Ratio Utility Billing Systems
- Gym, In-Unit Washer/Dryer, Controlled Access. Unobstructed Views from Many Units
- Convenient Access to USC, Culver City, DTLA, Santa Monica
Executive Summary
PartnersCRE is proud to present for sale The Peake, a 32 Unit Apartment Community in vibrant West Adams.
The property is located at 3518 Chesapeake Ave. (a quiet, residential tree-lined street), in a neighborhood quickly undergoing a transformation, full of new construction!
With a Certificate of Occupancy from 2023, the building features all the modern systems and conveniences your future tenants have come to expect, from spacious units with new appliances to manicured common areas and a comfortable gym, to the tremendous convenience of being just a hop and a skip to the Farmdale Metro Expo (E) Station, just one block away!
Featuring controlled access, in-unit laundry, sleek designs, some apartments with balconies, bicycle parking and 19 vehicle parking spaces, the property backs up to a vast single family-zoned area, with low-rise homes, unobstructed views and easier street parking.
The property offers additional income, such as parking and storage fees charged independently of rents, along with EV Charging, TV and Internet service, which is billed directly to tenants along with RUBS.
The property boasts fifteen 2 bed + 2 bath, eight 1 bed + 1 bath and nine studio units, ranging from 475 to 966 SF.
There are three restricted units reserved for affordable housing.
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 building is a stone’s throw to the Rancho Cienega Recreation Center and Dorsey Senior High School. Take the Metro to USC or Culver City, continue on to Downtown LA or Santa Monica!
The area features tons of new restaurants, cafes, markets and much more! It is hard to keep track of what has opened and what is in the planning to open in the near future!
A Brand New 36 Unit Apartment Building on the southern corner of the block is also available and may be purchased together with this property!
The property is located at 3518 Chesapeake Ave. (a quiet, residential tree-lined street), in a neighborhood quickly undergoing a transformation, full of new construction!
With a Certificate of Occupancy from 2023, the building features all the modern systems and conveniences your future tenants have come to expect, from spacious units with new appliances to manicured common areas and a comfortable gym, to the tremendous convenience of being just a hop and a skip to the Farmdale Metro Expo (E) Station, just one block away!
Featuring controlled access, in-unit laundry, sleek designs, some apartments with balconies, bicycle parking and 19 vehicle parking spaces, the property backs up to a vast single family-zoned area, with low-rise homes, unobstructed views and easier street parking.
The property offers additional income, such as parking and storage fees charged independently of rents, along with EV Charging, TV and Internet service, which is billed directly to tenants along with RUBS.
The property boasts fifteen 2 bed + 2 bath, eight 1 bed + 1 bath and nine studio units, ranging from 475 to 966 SF.
There are three restricted units reserved for affordable housing.
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 building is a stone’s throw to the Rancho Cienega Recreation Center and Dorsey Senior High School. Take the Metro to USC or Culver City, continue on to Downtown LA or Santa Monica!
The area features tons of new restaurants, cafes, markets and much more! It is hard to keep track of what has opened and what is in the planning to open in the near future!
A Brand New 36 Unit Apartment Building on the southern corner of the block is also available and may be purchased together with this property!
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$1,431,926
|
$49.47
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$42,958
|
$1.48
|
| Effective Gross Income |
$1,388,969
|
$47.98
|
| Taxes |
$210,202
|
$7.26
|
| Operating Expenses |
$228,829
|
$7.90
|
| Total Expenses |
$439,031
|
$15.17
|
| Net Operating Income |
$949,938
|
$32.82
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $1,431,926 |
| Annual Per SF | $49.47 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $42,958 |
| Annual Per SF | $1.48 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $1,388,969 |
| Annual Per SF | $47.98 |
| Taxes (CAD) | |
|---|---|
| Annual | $210,202 |
| Annual Per SF | $7.26 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $228,829 |
| Annual Per SF | $7.90 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $439,031 |
| Annual Per SF | $15.17 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $949,938 |
| Annual Per SF | $32.82 |
Property Facts
| Price | $17,664,010 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $552,000 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.29 AC |
| Cap Rate | 5.44% | Building Size | 28,948 SF |
| Gross Rent Multiplier | 12.34 | Average Occupancy | 100% |
| No. Units | 32 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 2023 |
| Property Subtype | Apartment | Parking Ratio | 0.66/1,000 SF |
| Zoning | R3 - High density multiple-family residential district. | ||
| Price | $17,664,010 CAD |
| Price Per Unit | $552,000 CAD |
| Sale Type | Investment |
| Cap Rate | 5.44% |
| Gross Rent Multiplier | 12.34 |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.29 AC |
| Building Size | 28,948 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 2023 |
| Parking Ratio | 0.66/1,000 SF |
| Zoning | R3 - High density multiple-family residential district. |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Refrigerator
- Double Pane Windows
Site Amenities
- Controlled Access
- Fitness Center
- Property Manager on Site
- Disposal Chutes
- Grill
- Wheelchair Accessible
- Bicycle Storage
- Car Charging Station
- Community-Wide WiFi
- Elevator
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 9 | $2,574 CAD | 475 - 536 |
| 1+1 | 8 | $3,220 CAD | 626 - 731 |
| 2+2 | 15 | $4,076 CAD | 874 - 966 |
Moderately walkable
60/100
Very drivable
80/100
Strong public transit
80/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 5046-015-034 | Total Assessment | $19,045,273 CAD |
| Land Assessment | $2,595,487 CAD | Annual Taxes | $210,202 CAD ($7.26 CAD/SF) |
| Improvements Assessment | $16,449,786 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
5046-015-034
Land Assessment
$2,595,487 CAD
Improvements Assessment
$16,449,786 CAD
Total Assessment
$19,045,273 CAD
Annual Taxes
$210,202 CAD ($7.26 CAD/SF)
Tax Year
2025
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32 Units in West Adams • $406k/Door & $457/SF | 3518 Chesapeake Ave
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