2724 Queen, Los Angeles, California 90039, Los Angeles, 90039 - 2 bed, 1 bath
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2724 Queen
Los Angeles, California 90039
ACTIVE
CONDITION: TEAR DOWN
2Beds
1Baths
720Sq Ft
5,447Lot Size
Property Price
LIST PRICE$859,900
EST. MARKET VALUE
$904,697
4% BelowMARKET VALUE
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $999,000—positioned well below the $1,051,044 Fair Market Value by 4%. This valuation gap offers $52,044 in Instant Equity for buyers prepared to manage a total renovation. With a Condition Rating of 6 and a 5,447 sqft lot in the vibrant Frogtown district, the asset provides significant development upside. Proximity to top-rated schools like Allesandro Elementary makes this a strategic acquisition for Fix-and-Flip Investors or Developers seeking a prime Los Angeles project.
Estimated Market Value
$904,697+$44,797 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Los Angeles.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2724 Queen Subject 2 bd · 1 ba · 720 sqft · $1,257 | $859,900* List Price | 2 | 1 | 720 | $1,257 | - |
A 2723 Pirtle Active 2 bd · 1 ba · 560 sqft · $1,536 · 0.0 mi | $859,900 List Price | 2 | 1 | 560 | $1,536 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Tear down
TeardownExcellent
Property is land value only, full reconstruction required.
Built in 1923 and on the market for the first time in 80 years, this property has no recorded renovations. The listing explicitly states it will not qualify for financing (cash only) and suggests 're-envisioning the lot,' indicating the structure is likely unlivable and the value lies in the land.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Frogtown Location
Situated in the highly sought-after Elysian Valley (Frogtown) neighborhood, the property offers exceptional proximity to the LA River bike path, trendy cafes, and Dodger Stadium, catering to a modern urban lifestyle.
- Significant Development Potential
With a generous 5,447 sqft lot and being on the market for the first time in 80 years, this property serves as a rare blank canvas for investors or developers looking to rebuild or expand in a high-demand area.
- Access to Quality Education
The property is located near several well-rated schools, including Allesandro Elementary (Rating: 8) and Dorris Place Elementary (Rating: 7), which enhances the long-term desirability and resale value of the location.
CONSRISKS & DEFICIENCIES
- Financing Restrictions
The property will not qualify for traditional financing and is restricted to cash offers only, significantly limiting the pool of potential buyers to well-capitalized investors.
- Substantial Renovation Required
The existing 720 sqft structure, built in 1923, likely requires a complete teardown or major overhaul, necessitating significant additional capital investment beyond the nearly $1 million asking price.
About 2724 Queen
First time on the market in about 80 years! Situated in the vibrant community of Elysian Valley, also known as "Frogtown." Adjacent to local parks, trendy cafes, the LA River bike path, and Dodger Stadium. This property is a perfect blend of urban living and outdoor lifestyle. Property will not qualify for financing, Cash Offers only! Great opportunity to re-invison this lot as many have done in the community. Don’t miss out on this prime Los Angeles property!
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1923
- Lot Size
- 5,447 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Los Angeles Unified Schools
Allesandro Elementary School
Grades K-6 • 0.4 mi
8/10
Glassell Park Elementary School
Grades K-6 • 0.6 mi
4/10
Dorris Place Elementary School
Grades K-6 • 0.7 mi
7/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 720 | 1,675.469 |
| Lot Size | 5,447 | 6,126.393 |
| Price | $859.9K | $1.34M |
| Price per sq ft | $1.2K | $800 |
| Built year | 1923 | 1941 |
| HOA | $0 | $262 |
| Days on market | 8 | 56 |
Pricing History
Listed for Sale
Oct 22, 2026
$859,900
$999,000
-14% Price Drop
Initial Listing
Price Change
Oct 16, 2026
$999,000
Initial Listing