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6u +1 ADU (RT) Miracle Mile 1268 Queen Anne Pl 7 Unit Apartment Building $2,695,000 ($385,000/Unit) 4.74% Cap Rate Los Angeles, CA 90019
Investment Highlights
- "Beverly Hills quality, LA pricing."
- Plans and Permits for a 3/2 ADU without losing any parking!
Executive Summary
"Beverly Hills quality, LA pricing."
And Plans and Permits for a 3/2 ADU without losing any parking!
A lovingly rehabbed 6 units (+1 ADU RTI) between Miracle Mile and Oxford Square.
The owner has self-managed and her hands-on approach shows throughout. In addition to updating the facade and landscaping, the Seller extensively and tastefully rehabbed 4 of the 6 units (stone surfaces, new fixtures floors, cabinetry & crown molding). Also she has installed new HVAC units, put in dual-pane windows and installed NEW electrical meters and subpanels - a must in today's turbulent insurance climate.
Lastly, the Seller is waaaay down the road with the City - having obtained full approval and permits (RTI) for a large, 1,200 sq. ft. 3 Bed/2 Bath unit above the existing detached garages - 90% of ADU additions, around town, mean you lose parking...not here. All the hassle, expenses and application/approval red tape are already handled. Building this ADU unit out will INCREASE your monthly gross rental income by 25%.
The subject property is a "Beauty" that a Buyer can grow with, literally...rehabbing the remaining two units and building out the ADU.
Across the street from Queen Anne Park and Recreation Center - a 'go to' for the neighborhood - meeting area, gym, playgrounds, picnic tables, soccer fields, baseball diamond and tennis courts.
EXCLUSIVELY LISTED at $2,695,000
Buy-Side Fee paid by Buyer
And Plans and Permits for a 3/2 ADU without losing any parking!
A lovingly rehabbed 6 units (+1 ADU RTI) between Miracle Mile and Oxford Square.
The owner has self-managed and her hands-on approach shows throughout. In addition to updating the facade and landscaping, the Seller extensively and tastefully rehabbed 4 of the 6 units (stone surfaces, new fixtures floors, cabinetry & crown molding). Also she has installed new HVAC units, put in dual-pane windows and installed NEW electrical meters and subpanels - a must in today's turbulent insurance climate.
Lastly, the Seller is waaaay down the road with the City - having obtained full approval and permits (RTI) for a large, 1,200 sq. ft. 3 Bed/2 Bath unit above the existing detached garages - 90% of ADU additions, around town, mean you lose parking...not here. All the hassle, expenses and application/approval red tape are already handled. Building this ADU unit out will INCREASE your monthly gross rental income by 25%.
The subject property is a "Beauty" that a Buyer can grow with, literally...rehabbing the remaining two units and building out the ADU.
Across the street from Queen Anne Park and Recreation Center - a 'go to' for the neighborhood - meeting area, gym, playgrounds, picnic tables, soccer fields, baseball diamond and tennis courts.
EXCLUSIVELY LISTED at $2,695,000
Buy-Side Fee paid by Buyer
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$196,656
|
$26.33
|
| Other Income |
$1,000
|
$0.13
|
| Vacancy Loss |
$5,900
|
$0.79
|
| Effective Gross Income |
$191,756
|
$25.68
|
| Taxes |
$32,313
|
$4.33
|
| Operating Expenses |
$31,670
|
$4.24
|
| Total Expenses |
$63,983
|
$8.57
|
| Net Operating Income |
$127,773
|
$17.11
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $196,656 |
| Annual Per SF | $26.33 |
| Other Income | |
|---|---|
| Annual | $1,000 |
| Annual Per SF | $0.13 |
| Vacancy Loss | |
|---|---|
| Annual | $5,900 |
| Annual Per SF | $0.79 |
| Effective Gross Income | |
|---|---|
| Annual | $191,756 |
| Annual Per SF | $25.68 |
| Taxes | |
|---|---|
| Annual | $32,313 |
| Annual Per SF | $4.33 |
| Operating Expenses | |
|---|---|
| Annual | $31,670 |
| Annual Per SF | $4.24 |
| Total Expenses | |
|---|---|
| Annual | $63,983 |
| Annual Per SF | $8.57 |
| Net Operating Income | |
|---|---|
| Annual | $127,773 |
| Annual Per SF | $17.11 |
Property Facts
| Price | $2,695,000 | Apartment Style | Low-Rise |
| Price Per Unit | $385,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.22 AC |
| Cap Rate | 4.74% | Building Size | 7,468 SF |
| Gross Rent Multiplier | 13.63 | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1948 |
| Property Subtype | Apartment | Parking Ratio | 1/1,000 SF |
| Zoning | R3 | ||
| Price | $2,695,000 |
| Price Per Unit | $385,000 |
| Sale Type | Investment |
| Cap Rate | 4.74% |
| Gross Rent Multiplier | 13.63 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 7,468 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1948 |
| Parking Ratio | 1/1,000 SF |
| Zoning | R3 |
Amenities
Unit Amenities
- Balcony
- Eat-in Kitchen
- Hardwood Floors
- Family Room
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | 1,000 |
| 2+2 | 2 | - | 1,500 |
1 1
Walk Score®
Very Walkable (89)
Property Taxes
| Parcel Number | 5082-010-021 | Total Assessment | $2,482,015 |
| Land Assessment | $1,488,344 | Annual Taxes | $32,313 ($4.33/SF) |
| Improvements Assessment | $993,671 | Tax Year | 2025 |
Property Taxes
Parcel Number
5082-010-021
Land Assessment
$1,488,344
Improvements Assessment
$993,671
Total Assessment
$2,482,015
Annual Taxes
$32,313 ($4.33/SF)
Tax Year
2025
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6u +1 ADU (RT) Miracle Mile | 1268 Queen Anne Pl
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