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$1,200,000
Est. payment /mo
4 Beds
3 Baths
7,012 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC26027318
Bedrooms 4
Lot Size 7,012 Sqft
Property Sub-Type Res Income 2-4 Units
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 74% below the market rate. Additionally, the existing garage parking configuration provides an opportunity to capitalize on Californias 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
Zoning Assessor
Direction Major intersections are W Pico Blvd and Crenshaw Blvd off 10 Freeway
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 5082011010
Acceptable Financing Cash, Exchange
Listing Terms Cash, Exchange
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Listed by Paul Banke, DRE#02113308 Kirklen Investment Group
Nearby School & Business
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