2653 Queen Street

Los Angeles, CA 90039

$1,500,000
Last Sold Price
8
Beds
6
Baths
3,321 Sq. Ft.
$452 / Sq. Ft.
3,321
Sq. Ft.
$452
per Sq. Ft.

Description

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...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.
  1. Listed by Richard Spracher • DRE #01977573 • Coldwell Banker Residential
  2. Listed by Default zzDefault Member • Non Member

Property Details for 2653 Queen Street

Zoning
LA R2-1VL-RIO
Style
Traditional
Cross Streets
Riverside Dr & Newell St
Property Attached YN
true
Parcel Number
5442012004
Total Units
6.0
Living Area
3321
Source Living Area
404

Location

Listing Courtesy of Coldwell Banker Residential, Richard Spracher, DRE #01977573; Non Member, Default zzDefault Member

Sold By Urban Real Estate, Inc., Jim Heo, DRE #01399962; Non Member, Default zzDefault Member

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LISTING UPDATED: 06/07/2021 02:58 PM

Property Details for 2653 Queen Street

StatusSold
MLS #320004803IT
Days on Market99
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1992
Lot Size0.22 AC / 9,527 SF
CountyLos Angeles County

Location

Listing Courtesy of Coldwell Banker Residential, Richard Spracher, DRE #01977573; Non Member, Default zzDefault Member

Sold By Urban Real Estate, Inc., Jim Heo, DRE #01399962; Non Member, Default zzDefault Member

Add your commute

Building Information for 2653 Queen Street

Stories-Residences-Year Built1992Building Size-Lot Size0.22 AC / 9,527 SF

Payment Calculator

$9,855 per month

30 year fixed, 7.25% Interest

Principal and Interest

$8,186

Property Taxes

$1,669

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 2653 Queen Street

Community / Development
Community / Development
  • Tax Mello Roos: Unknown
  • Number Of Units: 6
  • Professional Management: 0.0
  • Community Features: Curbs, Sidewalks, Street Lights
Structure Info
Structure Info
  • Number Of Buildings: 3
  • View: No
  • Property Condition: Fixer, Value Mainly In Land
  • Exposure: East
  • Water: Public
  • Sewer: Public Sewer
  • ADA Compliance: No
  • Additions Alterations: No
  • Personal Property Amount: $.00
  • Personal Property Percent: .00%
  • Water Heater Features: Gas
  • Water District: LADWP
Contract Info
Contract Info
  • Disclosures: As Is, Rent Control, Trust/Conservatorship
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Gross Operating Income: $0
  • Net Operating Income: $.00
  • Gross Income: $0
  • Gross Scheduled Income: $7,838,400
  • Cap Rate: 4.40%
  • Gross Rent Multiplier: $19.00
  • Actual Annual Gross Rent: $78,384.00
  • Actual Gross Annual Income: $78,384
  • Monthly GrossI Income: $6,532.00
  • Gross Spendable Income: $0
  • Gross Equity: $0
  • Other Income1: $.00
  • Other Income2: $.00
  • Garage Income: $0
  • Laundry Income: $0
  • Actual Rent Total: $78,384.00
  • Vacancy Allow Dollar: $.00
  • Vacancy Allow Percent: .00%
  • Expense Actual Annual Vacancy: $.00
  • Owner Pays: Gardener, Water
  • Total Annual Expense: 0
  • Pool Expense: $.00
  • Water Expense: $30,000.00
  • Gas Expense: $0
  • Electric Expense: $.00
  • Trash Expense: $24,300.00
  • Other Expense: $13,500.00
  • Expense Cable TV: $.00
  • Expense Furniture: $.00
  • Elevator Expense: $.00
  • Expense Pest: $.00
  • Tax Expense: $7,535
  • Expense Maintenance Percent: $.00
  • Gardener Expense: $10,000
  • Expense Security: $.00
  • Expense Workers Compensation: $.00
  • Expense Licenses: $492.00
  • Insurance Expense: $0
  • Expense Advertising: $.00
  • Expense Operating: $.00
  • Expense Operating Percent: $.00
  • Management Expense: $.00
  • Manager Expense: $0
  • Expense Supplies: $.00
Land / Lot Info
Land / Lot Info
  • Land Lease: No
  • Land Lease Amount Per Year: $.00
  • Land Lease Expiration Year: 0
  • Paved: Yes
  • Lot Acreage: 0.21
  • Lot Size Square Feet: 9527
  • Lot Size Dimensions: 70 x 136
  • Lot Features: Utilities - Overhead
  • Lot Description: 2-4 Lots, Curbs, Fenced Rear, Lot-Level/Flat, Sidewalks, Street Lighting, Street Public, Utilities - Overhead
  • Lot Location: City
  • Assessments: Unknown
Parking Details
Parking Details
  • Parking Garage: Garage - None, On street, Side By Side, Uncovered
  • Total Parking: 8
  • Covered Parking: 0
  • Open Other Spaces Total: 8
  • Garage Spaces Total: 0
  • Carport Spaces Total: 0
  • Parking Features: Uncovered, None, Side by Side
  • Garage Structures Total: 0.0
Interior Features
Interior Features
  • Levels: Two
  • Furnished: Unfurnished
  • Cooling Type: None
  • Heating: Natural Gas, Wall Furnace
  • Heating Type: Natural Gas, Wall
  • Flooring: Carpet, Vinyl
  • Common Walls: Attached, Common Walls
  • Cooking Appliances: None
  • Laundry: None
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Spa: No
  • Tennis Court: None
  • Roof: Composition, Tar and Gravel
  • Entry Location: Ground Level w/steps
  • New Construction: No
  • Construction Materials: Frame, Stucco
  • Exterior Construction: Stucco
  • Construction MVO: Frame and Stucco
  • Foundation Details: Slab
  • Other Structures: Shed(s)
Lease Terms
Lease Terms
  • Entry Date: 01-31-2021
  • Garage Rental Rate: 0
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: Yes
  • Unit Rent: $1,800.00
  • Unit Actual Rent: $1,800.00
  • Unit Projected Rent: $2,300.00
  • Like Units: 0
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: Yes
  • Unit Rent: $1,066.00
  • Unit Actual Rent: $1,066.00
  • Unit Projected Rent: $2,300.00
  • Like Units: 0
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: Yes
  • Unit Rent: $932.00
  • Unit Actual Rent: $932.00
  • Unit Projected Rent: $1,500.00
  • Like Units: 0
Unit 4 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: Yes
  • Unit Rent: $932.00
  • Unit Actual Rent: $932.00
  • Unit Projected Rent: $1,500.00
  • Like Units: 0
Unit 5 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: Yes
  • Unit Rent: $932.00
  • Unit Actual Rent: $932.00
  • Unit Projected Rent: $1,500.00
  • Like Units: 0
Unit 6 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: Yes
  • Unit Rent: $870.00
  • Unit Actual Rent: $870.00
  • Unit Projected Rent: $1,500.00
  • Like Units: 0
Unit 7 Information
  • Unit Beds: 0
  • Unit Baths: 0
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $.00
  • Like Units: 0
Unit 8 Information
  • Unit Beds: 0
  • Unit Baths: 0
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $.00
  • Like Units: 0
Unit 9 Information
  • Unit Beds: 0
  • Unit Baths: 0
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $.00
  • Like Units: 0
Unit 10 Information
  • Unit Beds: 0
  • Unit Baths: 0
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $.00
  • Like Units: 0
Unit 11 Information
  • Unit Beds: 0
  • Unit Baths: 0
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $.00
  • Like Units: 0
Unit 12 Information
  • Unit Beds: 0
  • Unit Baths: 0
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $.00
  • Like Units: 0
Unit 13 Information
  • Unit Beds: 0
  • Unit Baths: 0
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $.00
  • Like Units: 0
Unit Details
  • Number of Carpet: 0
  • Number of Dishwasher: 0
  • Number of Disposal: 0
  • Number of Drapes: 0
  • Number of Electric Meters: 6
  • Number of Gas Meters: 6
  • Number Leased: 6
  • Number Patio: 0
  • Number Range: 0
  • Number Refrigerator: 0
  • Number Rented Garages: 0
  • Number Wall AC: 0
  • Number Water Meters: 1
Tax and Assessed Info
Tax and Assessed Info
  • Tax Percent: .00%
  • Tax Rate: .00%
  • Assessed Improvement Value: $204,259.00
  • Assessed Improvement Percent: 0.0
  • Assessed Land Value: $.00
  • Assessed Land Percent: 0
  • Assessed Total Value: $.00

Property History for 2653 Queen Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 2653 Queen Street

Taxable ValueLand$624,240Additions$936,360Total$1,560,600
Tax Record2023$20,028 ($1,669 / month)
Home Facts
Total Finished SqFt3,321 SqFtAbove Grade Finished SqFt3,321 SqFtLot Size9,527 SqFtStyleMulti-Family Res (5+ Units)Year Built1992ZoningLAR2CountyLOS ANGELESAPN5442-012-004

Schools near 2653 Queen Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 6 to 12
Public - 9 to 12
Charter - 9 to 12
Rating
School
Distance
Allesandro Elementary School
PublicK to 6

Sotomayor Arts and Sciences Magnet
Public6 to 12

John Marshall Senior High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Coldwell Banker Residential, Richard Spracher, DRE #01977573; Non Member, Default zzDefault Member

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.