5164 Romaine Street, Los Angeles, California 90029, Los Angeles, 90029 - 8 bed, 2 bath
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Los Angeles, California 90029
Analysis of 5164 Romaine Street, Los Angeles, California 90029 is currently available with a list price of $599,000. The property maintains a Poor Condition Rating (30/100), indicating the property requires renovation and updates to maximize its market potential. This presents opportunities for value-add investors. Located in a high-demand neighborhood within the Los Angeles Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Property is extensive renovation needed.
The property is in a state of extreme disrepair and is currently uninhabitable. It has been gutted to the studs, leaving no functional kitchen, bathrooms, flooring, or internal systems. Aerial images show significant structural damage, including large holes in the roof, and the exterior is boarded up with city-issued 'Vacated Building' notices, indicating it is unsafe in its current condition.
The property comes with fully approved architectural plans and permits already pulled, allowing a buyer to bypass months of city approval timelines and save on architect and carrying costs.
Listed at a deep discount relative to the neighborhood, the property offers exceptional forced appreciation potential with nearby renovated homes consistently selling for over $1.15M.
Situated in a high-demand submarket near Netflix and Paramount Studios, and the new Echelon Studios Creative Village, ensuring strong future rental and resale demand.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1602, other record living area = 874. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 8, other record bedroom count = 3.
As a major fixer/redevelopment project, the property requires significant capital expenditure and a professional contractor to realize its full market value.
The 2,762 square foot lot is relatively small, which limits outdoor space and may restrict further expansion or the addition of large accessory structures.
MAJOR DEAL ALERT!! Calling all investors and savvy buyers — an extraordinary opportunity awaits in the heart of Hollywood! Welcome to 5164 Romaine Street, a rare shovel-ready investment and redevelopment opportunity located in one of Hollywood’s most in-demand rental and buyer markets. This fixer is ready to be brought back to life! Whether you envision a custom personal HOME, living, a high-end FLIP, a strategic long-term RENTAL for your investment PORTFOLIO, or a high income-producing Airbnb or VACATION RENTAL near Hollywood’s most famous tourist destinations, this property offers multiple possibilities and visions. Located in one of Los Angeles’ most high-demand submarkets, this property presents a rare chance to enter the neighborhood at DEEP DISCOUNTS, and potentially one of the LOWEST PRICED properties for the area. In addition to exceptional value, this property also comes with FULLY APPROVED architectural PLANS and PERMITS already pulled! This may benefit you, by allowing you to bypass MONTHS of design, entitlement, and city approval timelines— ultimately, SAVING substantial TIME, MONEY, architect fees, city fees, and carrying COSTS! With nearby renovated homes consistently selling for $1.15M+, this project offers exceptional upside for investors, developers, and owner-users seeking forced appreciation in a premier Hollywood location near Hollywood studios, trendy nightlife, popular dining, major hospitals, shopping, and transit. Enjoy convenience and proximity to the Hollywood Bowl, Netflix Studios, Paramount Pictures, Hollywood Walk of Fame, Runyon Canyon, Griffith Observatory, and more. Also nearby, a brand nejavascript:__doPostBack('m_lbSubmit','')w 90,000 sqft Echelon Studios Creative Village is under construction, spurring further economic demand. Adding to its uniqueness, the property features mature fruit trees, such as persimmon, guava, and avocado trees, offering a charming landscaping and unexpected outdoor retreat already completed. This is a rare opportunity to acquire a true value-add asset with approvals in hand — drastically reducing risk, timelines, and development friction. Opportunities like this may not last. Bring your contractor, bring your vision today.
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades K-6 • 0.4 mi
Grades K-5 • 0.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 8.0 | 3.0 | 94% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,602 | 1,545 | 59% |
| Lot Size | 2,762 | 5,630 | 24% |
| Price | $599.0K | $1.03M | 6% |
| Price per sq ft | $374 | $714 | 6% |
| Built year | 1910 | 1916 | 18% |
| HOA | $0 | $0 | 50% |
| Days on market | 69 | 131 | 29% |
Feb 12, 2026
$599,000
Initial Listing
Aug 12, 2024
$380,000
Public Record
Mar 9, 2020
$645,000
Public Record
Aug 3, 2018
$630,000
Public Record