3556 Chesapeake Ave, Los Angeles, CA 90016

We are proud to present for sale an Entitled 61 Unit 100% Affordable Housing Project in the quickly evolving West Adams / Jefferson Park neighborhood, a sought-after submarket of Los Angeles. The property on offer is a double lot located at 3556 & 3562 Chesapeake Ave. (a quiet, residential tree-lined street), in a neighborhood quickly undergoing a transformation, full of new construction! Sitting on a 12,814 SF R3-1 lot, the site offers a well-positioned infill development opportunity with immediate access to the Metro E Line, the West Adams retail core, and the Exposition business corridor. The offered development is a 5-story Residential Building comprised of 61 units (55 one-bedrooms, 4 two-bedrooms and 2 three-bedrooms), totaling approximately 26,071 SF of Rentable Square Footage and 35,781 SF of Gross Floor Area. The project is Entitled as a 100% privately funded Affordable Housing Community under Executive Directive 1 (ED1), leveraging the incentives available through AB 1763, AB 2345, and AB 2334, including unlimited residential density and a zero on-site parking requirement given its proximity to a major transit stop. The property sits on the edge of a vast single family-zoned neighborhood where street parking is easier to come by. The property would be delivered with the 61 Unit Project fully Entitled. The Project has not been and will not be submitted to Plan Check by the Seller, allowing the incoming Developer to finalize construction documents to their own specifi