Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Type

Apartment

Bedrooms

5

Building size

3,816 sqft

Lot size

7,012 sqft

Year built

1922

Stories

2

Garage spaces

4

Pool

None

Status

Active

Days on market

230

MLS #

238281500

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 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

1291 Queen Anne

Los Angeles, Los Angeles, CA, 90019