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2653 Queen Street

Los Angeles, CA 90039

– beds
– baths
– sqft
9,527 sqft lot
1992 build
– on site

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Great investment potential with 100% occupancy in hip and rapidly gentrifying Frog-Town! This property consists of 2 lots on a single APN & brings incredible opportunity for improved CAP rate & GRM. Currently occupied by long-term tenants with below market rents, the front of the property presents a 2 story structure consisting of (4) 1 bed/1 bath units. The rear of the property offers plenty of surface parking and 2 free-standing 2 beds & 1 bath units. There are 8 parking spots on this 9500+ sq ft property. Units have wall a/c and heating units, each unit is separately metered for gas & electricity. Units have not been updated. Seller may finance.

Listed By CRMLS_CA / Richard Spracher / Coldwell Banker Realty

Last checked: Checking… • Last updated Mar 19, 2023 •

MLS# 320004803 —

The Building

Year Built:

1992
New Construction:

No
Construction Materials:

Frame, Stucco
Building Area Total:

3321.00
Total Number Of Units:

6
# of Buildings:

3
Architectural Style:

Traditional
Roof:

Composition, Tar/Gravel
Foundation:

Slab
Stories Total:

2
Common Walls:

1 Common Wall
Faces:

East
# of Separate Gas Meters:

6
# of Separate Water Meters:

1
# of Separate Electric Meters:

6

Interior

Levels:

Two
Entry Location:

Ground Level w/Steps,Top Level
Flooring:

Carpet
Fireplace:

No
Laundry:

None

Financial & Terms

Disclosures:

Rent Control, Trust/Conservatorship

Location

Directions:

From Riverside Dr., North onto Newell St., Right onto Ripple St, Right onto Queen St. Cross Streets: Riverside Dr & Newell St
Latitude:

34.09853497
Longitude:

-118.24543399

The Property

Property Type:

Residential Income
Property Condition:

Fixer
Zoning:

LA R2-1VL-RIO
Lot Features:

Utilities - Overhead
Lot Size Area:

9527.0000
Lot Size Dimensions:

70 x 136
Lot Size Acres:

0.2187
Lot Size SqFt:

9527.00
Lot Size Source:

Public Records
Exclusions:

Refrigerators, stoves, wall/window a/c units, microwaves (property of tenants)
Property Attached:

1
Other Structures:

Shed(s)
Land Lease:

No

Listing Agent

Contact info:

Taxes

Tax Block:

/
Tax Tract:

3416
Tax Lot:

84, 85
Tax Annual Amount:

7535.00

The Listing

Special Listing Conditions:

Trust
Parcel Number:

5442012004

Heating & Cooling

Heating:

1
Heating:

Natural Gas, Wall Furnace

Utilities

Sewer:

Public Sewer
Water Source:

Public

Appliances

Appliances:

None, Gas Water Heater
Included:

No

The Community

Subdivision:

Not Applicable-105
Features:

Curbs, Sidewalks, Street Lights
Inclusions:

storage sheds
Association:

No
Private Pool:

No
Assessments:

No
Assessments:

Unknown

Parking

Parking:

No
Parking:

Uncovered, None, Side by Side
Parking Spaces:

8.00

Extra Units

Average 1 Bed Area:

450
Average 2 Bed Area:

760

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Sale history

Date	Event	Source	Price	% Change
6/7/21 Jun 7, 2021	Sold	CRMLS_CA	$1,500,000	-3.2%
5/18/21 May 18, 2021	Pending	CRMLS_CA	$1,550,000
4/7/21 Apr 7, 2021	Price Changed	CRMLS_CA	$1,550,000	-6.1%

Multifamily Sold on 6/7/2021

$1,500,000

Listing provided by broker:

Richard Spracher

Coldwell Banker Realty

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Listing Courtesy of: CRMLS_CA and Coldwell Banker Realty. Based on information from California Regional Multiple Listing Service, Inc. as of 00:03 on Jul 02.

This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

2653 Queen Street

Los Angeles, CA 90039