1291 Queen Anne, Los Angeles, CA 90019
List Price: $1.2M
Listing Status: Active
Original List Price: $1.25M
0Days on Market: 88
0 Bedrooms · 0 Bathrooms
Property Type: ResidentialIncome
Year Built: 1922
Lot Size: 7,012 sq ft
Garage Spaces: 4
Private Pool: Yes
Annual Property Tax: $14,993
MLS Number: OC26027318
About This Property
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 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.
Listing provided by: Paul Banke DRE #02113308 949-942-1300 paul@kig-usa.com, Kirklen Investment Group