Queen Anne Apartments

Los Angeles is the most populous city in California, and the second most populous city in the United States. With an estimated population of nearly 4 million, Los Angeles is the cultural, financial, and commercial center of Southern California. Los Angeles is one of the most substantial economic engines within the United States, with a diverse economy in a broad range of professional and cultural fields. Los Angeles metropolitan area is the second largest in the United States with a population of 13.1 million residents. The Los Angeles metropolitan area has a gross product of 1.044 trillion as of 2017, making it the 3rd largest in the world. The driving forces in the economy are international trade, entertainment, finance, technology, and manufacturing.Kirklen Investment Group proudly offers the opportunity to acquire 1291 Queen Anne Place, a 5-unit multifamily investment property located in the highly desirable Mid-Wilshire submarket of Los Angeles. Built in 1922/1928, the subject property offers a diverse unit mix comprised of (2) two-bedroom/one-bathroom units and (3) one-bedroom/one-bathroom units while sitting on a optimal sized 7,010 square foot lot. 1291 Queen Anne Place also offers residents units with washer and dryer hook ups, along with ample on-site parking featuring (3) open parking spaces and (4) garage parking spaces. Ideally positioned adjacent to the affluent Miracle Mile neighborhood, the property benefits from proximity to premier employment centers, retail corridors, dining, and entertainment. 1291 Queen Anne Place provides an attractive opportunity for a new owner to implement a value-add strategy through interior renovations and the repositioning of current rents, which are 66% below the market rate. Additionally, the existing garage parking configuration provides an opportunity to capitalize on California’s ADU-friendly legislation through potential garage to ADU conversions. With a combination of strong in-place cash flow, significant upside through modernization, and ADU expansion potential, 1291 Queen Anne Place represents an attractive opportunity in a premier central Los Angeles location.