2724 Queen Street, Los Angeles, California 90039, Los Angeles, 90039 - 2 bed, 1 bath
ACTIVE UNDER CONTRACT$1,050,000
2724 Queen Street, Los Angeles, California 90039
2Beds
1Bath
720Sqft
5,447Lot
Year Built
1923
Close
-
List price
$1.05M
Original List price
$1.05M
Price/Sqft
$1,458
HOA
-
Days on market
-
Sold On
-
MLS number
SR24186275
Home ConditionTear down
Features
View-
About this home
Possibly Over-Priced:The estimated price is 11% below the list price. We found 3 Cons,5 Pros. Rank: price - $1.05M(14th), sqft - 720(8th), beds - 2(33th), baths - 1(22th).
First time on the market in about 80 years! Situated in the vibrant community of Elysian Valley, also known as "Frogtown." Across the street from local parks, trendy cafes, the LA River bike path, and Dodger Stadium adjacent, this property is a perfect blend of urban living and outdoor lifestyle. Don’t miss out on this prime Los Angeles property! The following lots are available for purchase and in the MLS: 1) 5442-011-030 -2724 Queen St 2) 5442-011-031- 2728 Queen St 3) 5442-011-032 – 1930 Blake Ave 4) 5442-011-009 – 2723 Pirtle St 5) 5442-013-002 – 2746 Benedict St
Nearby schools
8/10
Allesandro Elementary School
Public,•K-6•0.4mi
4/10
Glassell Park Elementary School
Public,•K-6•0.6mi
7/10
Dorris Place Elementary School
Public,•K-6•0.7mi
2/10
Aragon Avenue Elementary School
Public,•K-5•1.1mi
7/10
Solano Avenue Elementary School
Public,•K-6•1.7mi
4/10
Loreto Street Elementary School
Public,•K-5•1.8mi
6/10
Irving STEAM Magnet
Public,•6-8•1.3mi
5/10
Florence Nightingale Middle School
Public,•6-8•1.7mi
Price History
Date
Event
Price
09/07/24
Listing
$1,050,000
Condition Rating
Tear down
The property was built in 1923, making it over 100 years old. The listing explicitly states it's 'First time on the market in about 80 years!', which strongly implies no major renovations have occurred in at least eight decades. Without any interior images, a detailed assessment of the kitchen, bathrooms, and other internal features is impossible. However, given the extreme age and complete lack of recent updates, the existing structure is almost certainly beyond economical repair or modernization to meet current standards and safety codes. The property's value is undoubtedly based on the land and its potential for redevelopment, aligning perfectly with the 'tear-down' criteria.
Pros & Cons
Pros
Exceptional Location & Lifestyle: Situated in the vibrant 'Frogtown' community, directly across from local parks, trendy cafes, the LA River bike path, and Dodger Stadium adjacent, offering a unique blend of urban living and outdoor lifestyle.
Significant Development Potential: The availability of multiple adjacent parcels for purchase presents a rare opportunity for assemblage and large-scale development or investment.
Rare Market Opportunity: Being on the market for the first time in approximately 80 years signifies a unique and potentially high-value acquisition for long-term appreciation.
Strong Market Appreciation: Located in Los Angeles, a consistently high-demand real estate market, providing a solid foundation for investment growth.
Community Vibrancy: The property is nestled in the 'Frogtown' community, known for its vibrant atmosphere and trendy amenities, appealing to a modern urban demographic.
Cons
Limited Living Space: With only 720 sqft, the property offers a relatively small living area for a single-family residence in Los Angeles, which may limit appeal to some buyers.
High Price Point Relative to Size: The listing price of $1,050,000 for a 2-bed, 1-bath, 720 sqft home is at the higher end, especially when compared to its estimated market value.
Age and Potential for Renovation: Built in 1923, the property is over a century old, suggesting it may require substantial updates, renovations, or address potential deferred maintenance to meet contemporary living standards.