2728 Queen Street, Los Angeles, California 90039, Los Angeles, 90039 - 2 bed, 2 bath
ACTIVE UNDER CONTRACT$1,050,000
2728 Queen Street, Los Angeles, California 90039
2Beds
2Baths
920Sqft
5,444Lot
Year Built
1930
Close
-
List price
$1.05M
Original List price
$1.05M
Price/Sqft
$1,141
HOA
-
Days on market
-
Sold On
-
MLS number
SR24186272
Home ConditionTear down
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.05M(42th), sqft - 920(17th), beds - 2(50th), baths - 2(50th).
First time on the market in about 80 years! Duplex - 1) 2728 Queen is a 1+1, 2) 1926 Blake is a 1+1. 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
Built in 1930 and described as 'first time on the market in about 80 years,' this property has clearly not undergone any major renovations in decades. The exterior images reveal significant deferred maintenance, rough stucco, and very old windows, indicating a structure that is well past its prime. The complete absence of interior photos strongly suggests that the kitchen, bathrooms, and other living spaces are in extremely poor, outdated, and potentially unlivable condition, requiring a full gut renovation or demolition. The property's value is almost certainly derived from its prime location and land, rather than the existing structure.
Pros & Cons
Pros
Income-Generating Duplex: The property is a duplex with two 1-bedroom, 1-bathroom units, offering immediate rental income potential for investors or an owner-occupier seeking supplementary income.
Prime Location (Frogtown): Situated in the vibrant Elysian Valley, also known as 'Frogtown,' the property benefits from proximity to local parks, trendy cafes, the LA River bike path, and Dodger Stadium, appealing to an active urban demographic.
Development/Expansion Potential: Multiple adjacent lots are available for purchase, presenting a unique opportunity for significant expansion, additional development, or creating a larger compound in a desirable area.
Rare Market Opportunity: Being on the market for the first time in approximately 80 years signifies a rare chance to acquire a long-held asset in a sought-after Los Angeles neighborhood, potentially offering untapped value.
Lifestyle Amenities: The location provides excellent access to outdoor and recreational amenities, including local parks and the LA River bike path, enhancing the quality of life for residents.
Cons
Age of Property: Built in 1930, the property is nearly a century old, suggesting potential for outdated infrastructure, systems (plumbing, electrical), and the need for significant modernization or repairs.
Small Unit/Total Square Footage: With a total of 920 square feet for two units (each 1 bed/1 bath), the individual units are quite small, which may limit appeal to certain tenant demographics or command lower rental rates compared to larger units.
Lack of Specific Condition Details: The description lacks details on recent renovations or current property condition, implying that significant investment may be required to update the units to modern standards, especially given its age and long-term ownership.