$1,615,000
SOLD DEC 6, 2024

3434 Chesapeake Ave Los Angeles, CA 90016

West Adams Neighborhood
0.21 Acre
$7,664,926 Price per Acre
9,180 Sq Ft Lot

Recently Sold

$558 Per Sq Ft

8% Below List Price

135 Days on Market

About This Lot

As of December 2024

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.

Last Agent to Sell the Property

Casey Lins

Kidder Mathews of California, Inc. License #01902650 Listed on: 09/17/2024

Last Buyer's Agent

Casey Lins

Kidder Mathews of California, Inc. License #01902650 Listed on: 09/17/2024

Property Details

Property Type

  • Land

Est. Annual Taxes

  • $15,212

Lot Details

  • 9,180 Sq Ft Lot
  • Property is zoned LARD1.5

Property Views

  • City Views

Utilities

  • Phone Available
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number 5046-009-019

Property Details

Property Type

Land

Est. Annual Taxes

$15,212

Lot Details

0

Listing Details

  • Property Type: Land
  • Street Number Display: Yes
  • Lot Acreage: 0.2107
  • Number Of Photos: 9
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: LotsLands

Exterior Features

  • View: City
  • View: Yes

Utilities

  • Cable: Yes
  • Telephone: Yes

Lot Info

  • Assessor Parcel Number: 5046-009-019
  • Lot Size Area: 9180

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 17, 2024
Closed on
Nov 7, 2024
Sold by
3434 Chesapeake Llc
Bought by
3434 Chesapeake Holdings Llc
Seller's Agent
Casey Lins
Kidder Mathews of California, Inc.
Buyer's Agent
Casey Lins
Kidder Mathews of California, Inc.
List Price
$1,750,000
Sold Price
$1,615,000
Premium/Discount to List
-$135,000
-7.71%
Total Days on Market
135
Views
3
Current Estimated Value
$1,605,720

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$9,280
Avg. Annual Appreciation
2.34%
Original Mortgage
$1,130,000
Outstanding Balance
$1,124,876
Interest Rate
6.54%
Mortgage Type
New Conventional
Estimated Equity
$513,469

Purchase Details

Closed on
Jun 24, 2021
Sold by
3434 Chesapeake Llc
Bought by
3434 Chesapeake Llc

Purchase Details

Closed on
Aug 30, 2020
Sold by
Niver Franklin D and Niver Judith M
Bought by
3434 Cheaspeake Llc

Purchase Details

Closed on
Dec 11, 2018
Sold by
3434 Chesapeake Llc
Bought by
Niver Franklin D and Niver Judith M

Purchase Details

Listed on
Jul 1, 2018
Closed on
Jul 16, 2018
Sold by
Price Marion L
Bought by
3434 Chesapeake Llc
Seller's Agent
Billy Ross
BILLY ROSS, REALTOR
Buyer's Agent
Omid Shokoufandeh
SHK Realty
List Price
$1,150,000
Sold Price
$1,075,000
Premium/Discount to List
-$75,000
-6.52%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.27%

Purchase Details

Closed on
Feb 9, 2017
Sold by
Price Marion L
Bought by
Price Marion L and Price Living Trust

Purchase Details

Closed on
Jul 15, 2014
Sold by
Price Marion L
Bought by
Price Marion L and Price Living Trust

Purchase Details

Closed on
Jun 25, 2000
Sold by
Lewis Louise
Bought by
Lewis Louise
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Type Sale Price Title Company
Grant Deed $1,615,000 Ticon Title
Grant Deed $1,615,000 Ticon Title
Interfamily Deed Transfer -- Fntg Builder Services
Grant Deed $432,500 Fidelity National Title Co
Grant Deed $400,000 Lawyers Title Company
Grant Deed $1,075,000 Lawyers Title
Interfamily Deed Transfer -- None Available
Interfamily Deed Transfer -- None Available
Interfamily Deed Transfer -- --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $1,130,000 New Conventional
Closed $1,130,000 New Conventional
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/06/2024 12/06/24 Sold $1,615,000 -7.7% $558 / Sq Ft
10/03/2024 10/03/24 Pending -- -- --
09/17/2024 09/17/24 For Sale $1,750,000 0.0% $605 / Sq Ft
09/03/2024 09/03/24 Pending -- -- --
08/14/2024 08/14/24 Price Changed $1,750,000 -7.7% $605 / Sq Ft
07/18/2024 07/18/24 Price Changed $1,895,000 -5.0% $655 / Sq Ft
05/21/2024 05/21/24 For Sale $1,995,000 +85.6% $690 / Sq Ft
08/20/2018 08/20/18 Sold $1,075,000 0.0% $372 / Sq Ft
08/20/2018 08/20/18 Sold $1,075,000 -6.5% $372 / Sq Ft
07/06/2018 07/06/18 Pending -- -- --
07/06/2018 07/06/18 Pending -- -- --
07/01/2018 07/01/18 For Sale $1,150,000 0.0% $398 / Sq Ft
06/12/2018 06/12/18 Price Changed $1,150,000 -11.5% $398 / Sq Ft
05/25/2018 05/25/18 For Sale $1,300,000 -- $449 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $15,212 $1,244,994 $1,244,994 --
2023 $14,919 $1,220,583 $1,220,583 $0
2022 $14,228 $1,196,650 $1,196,650 $0
2021 $14,065 $1,173,187 $1,173,187 $0
2020 $14,552 $1,168,634 $890,378 $278,256
2019 $13,981 $1,145,720 $872,920 $272,800
2018 $10,848 $877,727 $546,151 $331,576
2016 $9,623 $781,723 $471,167 $310,556
2015 $9,484 $769,982 $464,090 $305,892
2014 $1,853 $132,667 $21,577 $111,090
Source: Public Records

Agents Affiliated with this Home

  • Casey Lins

    Seller's Agent in 2024

    Casey Lins

    Kidder Mathews of California, Inc.

    (714) 333-6768

    2 in this area

    50 Total Sales

    Casey Lins
    Section Image
  • Billy Ross

    Seller's Agent in 2018

    Billy Ross

    BILLY ROSS, REALTOR

    (909) 609-4500

    14 Total Sales

    Billy Ross
    Section Image

  • O

    Buyer's Agent in 2018

    Omid Shokoufandeh

    SHK Realty

    (310) 926-8286

    1 in this area

    15 Total Sales

    Omid Shokoufandeh
    Section Image
See All Agents

Map

Source: The MLS

MLS Number: 24-394841

The MLS

APN: 5046-009-019

California Los Angeles County Los Angeles 90016 West Adams

3434 Chesapeake Ave, Los Angeles, CA

This home is located at 3434 Chesapeake Ave, Los Angeles, CA 90016 and is currently priced at $1,615,000, approximately $558 per square foot. 3434 Chesapeake Ave is a home located in Los Angeles County with nearby schools including Virginia Road Elementary School, Johnnie L. Cochran Jr. Middle School, and Susan Miller Dorsey Senior High School.

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The MLS © 2025 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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