2724 Queen Street, Los Angeles, California 90039, Los Angeles, 90039 - 2 bed, 1 bath
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Los Angeles, California 90039
This High-Potential Redevelopment Asset is listed at $1,050,000, positioned at a premium relative to its $808,460 Fair Market Value. This valuation reflects the significant land value of the 5,447 sqft lot in the revitalizing Frogtown community, including the rare potential to acquire adjacent parcels for the first time in 80 years. With a Condition Rating of 6, the 1923 structure requires a complete overhaul or teardown. Located near the LA River bike path and the 8/10 rated Allesandro Elementary School, this property is a strategic Value-Add acquisition for Developers or Fix-and-Flip Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2724 Queen Street Subject | $1,050,000* List Price | 2 | 1 | 720 | $1,123 | - |
A 2746 Benedict Street Pending | $1,050,000 List Price | 2 | 1 | 932 | $1,127 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1923 and on the market for the first time in approximately 80 years, this property has likely seen no major renovations in the past 50 years. The listing description and property analysis explicitly state it 'likely requires substantial renovation, modernization, and potential deferred maintenance.' The exterior images show an aged structure, and the absence of interior photos further suggests the existing structure is in poor, unlivable condition, with the value primarily in the land and its redevelopment potential.
Situated in the vibrant 'Frogtown' community, the property offers excellent access to local parks, trendy cafes, the LA River bike path, and is adjacent to Dodger Stadium, providing a desirable urban and outdoor lifestyle.
The availability of multiple adjacent lots for purchase presents a significant and rare opportunity for expansion, development, or creating a larger compound in a prime Los Angeles location.
Being on the market for the first time in approximately 80 years indicates a unique and potentially untapped investment opportunity for buyers looking for a long-term hold or significant renovation project.
Built in 1923 and on the market for the first time in 80 years, the property likely requires substantial renovation, modernization, and potential deferred maintenance, representing a significant additional investment for buyers.
The property offers a modest 720 sqft with 2 bedrooms and 1 bathroom, which is relatively small for the Los Angeles market and its price point, potentially limiting its appeal to buyers seeking more spacious living.
The $1.05 million list price is substantial for a 720 sqft, 1923-built home, indicating that the value is heavily weighted towards the land and desirable location, rather than the existing structure's size or modern amenities.
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
No exterior & parking available.
Grades K-6 • 0.4 mi
Grades K-6 • 0.6 mi
Grades K-6 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 29% |
| Baths | 1.0 | 2.0 | 19% |
| Square foot | 720 | 1,636 | 3% |
| Lot Size | 5,447 | 5,407 | 51% |
| Price | $1.05M | $1.45M | 13% |
| Price per sq ft | $1.5K | $1.0K | 92% |
| Built year | 1923 | 1930 | 16% |
| HOA | $0 | $0 | 50% |
| Days on market | 592 | 168 | 0% |
Sep 7, 2024
$1,050,000
Initial Listing