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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$1,200,000

Est. payment - /mo

7,013 Sqft Lot

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UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID OC26027318

HOA Y/N No

Year Built 1922

Annual Tax Amount $14,993

Lot Size 7,013 Sqft

Property Sub-Type Apartment

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 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

Area 699 - Not Defined

Interior

Fireplace No

Laundry Washer Hookup, Electric Dryer Hookup, Gas Dryer Hookup

Exterior

Parking Features Assigned

Garage Spaces 4.0

Garage Description 4.0

Pool None

Community Features Curbs, Storm Drain(s), Street Lights, Sidewalks

Total Parking Spaces 7

Private Pool No

Building

Lot Description 6-10 Units/Acre

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 5082011010

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

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Listed by Paul Banke Kirklen Investment Group #02113308

NEARBY SCHOOL & BUSINESS

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1291 Queen Anne Los Angeles, CA 90019