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Listed by Paul Banke • Kirklen Investment Group
$1,200,000
Est. payment /mo
3,816 SqFt
Active
1291 Queen Anne Los Angeles, CA 90019
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Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 3,816 sqft
Price per Sqft $314
MLS Listing ID OC-26027318
Year Built 1922
Lot Size 7,012 Sqft
Property Sub-Type Apartment
Source California Regional Multiple Listing Service (CRMLS)
Property Description
Presenting 1291 Queen Anne Place, a 5-unit multifamily investment property located in the highly desirable Mid-Wilshire submarket of Los Angeles. Built in 1922/1928, the subject property offers a diverse unit mix comprised of (2) two-bedroom/one-bathroom units and (3) one-bedroom/one-bathroom units while sitting on a optimal sized 7,010 square foot lot.
1291 Queen Anne Place also offers residents units with washer and dryer hook ups and ample on-site parking featuring (3) open parking spaces and (4) garage parking spaces. Ideally positioned adjacent to the affluent Miracle Mile neighborhood, the property benefits from proximity to premier employment centers, retail corridors, dining, and entertainment.
1291 Queen Anne Place provides an attractive opportunity for a new owner to implement a value-add strategy through interior renovations and the repositioning of current rents, which are 65% below the market rate. Additionally, the existing garage parking configuration provides an opportunity to capitalize on California's ADU-friendly legislation through potential garage to ADU conversions.
With a combination of strong in-place cash flow, significant upside through modernization, and ADU expansion potential, 1291 Queen Anne Place represents an attractive opportunity in a premier central Los Angeles location.
1291 Queen Anne Place also offers residents units with washer and dryer hook ups and ample on-site parking featuring (3) open parking spaces and (4) garage parking spaces. Ideally positioned adjacent to the affluent Miracle Mile neighborhood, the property benefits from proximity to premier employment centers, retail corridors, dining, and entertainment.
1291 Queen Anne Place provides an attractive opportunity for a new owner to implement a value-add strategy through interior renovations and the repositioning of current rents, which are 65% below the market rate. Additionally, the existing garage parking configuration provides an opportunity to capitalize on California's ADU-friendly legislation through potential garage to ADU conversions.
With a combination of strong in-place cash flow, significant upside through modernization, and ADU expansion potential, 1291 Queen Anne Place represents an attractive opportunity in a premier central Los Angeles location.
Location
State CA
County Los Angeles
Interior
Laundry Gas & Electric Dryer Hookup, Washer Hookup
Exterior
Parking Features Assigned
Garage Spaces 4.0
Pool None
Community Features Curbs, Sidewalks, Storm Drains, Street Lights
Building
Lot Description 6-10 Units/Acre
Sewer Public Sewer
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