2724 Queen Street, Los Angeles, California 90039, Los Angeles, 90039 - 2 bed, 1 bath
2724 Queen Street
Los Angeles, California 90039
Property Price
SUMMARY
Analysis of 2724 Queen Street, Los Angeles, California 90039 reveals a property with a current list price of $1,050,000, which is 21% above the estimated $828,217 Fair Market Value. Buyers should carefully evaluate the pricing and consider negotiation opportunities. The property maintains a Tear down Condition Rating (10/100), reflecting significant deferred maintenance. This property is best suited for experienced investors or developers prepared for substantial renovation work. Located in a high-demand neighborhood within the Los Angeles Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Estimated Market Value
Comparable Sales Map
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 | $1,150 | - |
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.
Condition Analysis
OVERALL CONDITION SCORE
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.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Location & Lifestyle
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.
- Development/Expansion Potential
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.
- Rare Market Opportunity
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.
CONSRISKS & DEFICIENCIES
- Age and Condition
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.
- Limited Interior Space
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.
- High Price Point Relative to Current Structure
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.
About 2724 Queen Street
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
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
Glassell Park Elementary School
Grades K-6 • 0.6 mi
Dorris Place Elementary School
Grades K-6 • 0.7 mi
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 27% |
| Baths | 1.0 | 3.0 | 20% |
| Square foot | 720 | 1,672 | 3% |
| Lot Size | 5,447 | 5,404 | 51% |
| Price | $1.05M | $1.58M | 13% |
| Price per sq ft | $1.5K | $1.1K | 95% |
| Built year | 1923 | 1929 | 16% |
| HOA | $0 | $0 | 50% |
| Days on market | 545 | 165 | 0% |
Pricing History
Listed for Sale
Sep 7, 2024
$1,050,000
Initial Listing