5326 Smiley Drive, Los Angeles, California 90016, Los Angeles, 90016 - 2 bed, 1 bath
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Los Angeles, California 90016
This property presents a High-Potential Investment Opportunity with a List Price of $950,000, positioned slightly above the $939,258 Fair Market Value. While the current structure holds a Condition Rating of 6, the true value lies in the LARD1.5 Zoning and SB 8-exempt status, which allows for a by-right fourplex development. Located in a premier Opportunity Zone, this site offers significant upside for Development-Focused Investors and Strategic Land Assemblers seeking to capitalize on the high demand from nearby corporate hubs.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5326 Smiley Drive Subject | $950,000* List Price | 2 | 1 | 872 | $1,077 | - |
A 2536 S Dunsmuir Avenue Active | $975,000 List Price | 2 | 1 | 930 | $1,048 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1924 (100+ years old) with no evidence of recent renovations. The listing is marketed exclusively as a development opportunity for a triplex/fourplex in an Opportunity Zone, indicating the value lies in the land and zoning rather than the existing structure.
The LARD1.5 zoning, SB 8 exemption, and non-rent-controlled status provide a rare, streamlined path to building a 100% market-rate fourplex without low-income set-aside requirements.
Located in a premier Opportunity Zone in West Adams, the property is positioned to capitalize on massive demand from nearby corporate hubs including Apple, Amazon Studios, and HBO.
The site offers flexibility as a high-margin standalone project or as part of a larger five-lot assembly for a 16-unit small-lot subdivision, catering to various developer exit strategies.
At a list price of $950,000 for a 4,802 sqft lot, the entry price per square foot is high, placing significant pressure on construction budgets to achieve desired profit margins.
The property is served by several schools with low ratings (as low as 2/10), which may limit the appeal to families and impact the long-term resale value of finished units.
Located in a premier Opportunity Zone in the heart of West Adams, this LARD1.5-zoned parcel offers a rare, SB 8-exempt, and non-rent-controlled development opportunity with a streamlined path to market-rate construction. This is for only Lot 1, as seen in photos, provides an opportunity to build a "by-right" triplex, plus the addition of an ADU yields a fourplex in one of the nation's fastest-growing sub-markets. Capitalize on the immense demand from expanding nearby offices for Apple, Amazon Studios, and HBO. Future residents will enjoy easy access to Whole Foods, Mizlala, the newly opened Maydan Market, and all the trendy destinations along Adams Blvd. The site is uniquely positioned as a standalone project or as part of a strategic five-lot assembly totaling a half-acre with plans for 16 small-lot homes. Unlike many central LA developments, this project requires no low-income set-asides or replacement units, allowing for 100% market-rate rental or sales potential. This is an ideal acquisition for developers seeking a high-margin exit or a stable, long-term hold in Los Angeles' most dynamic growth hub.
No exterior & parking available.
Grades K-5 • 0.4 mi
Grades K-5 • 0.5 mi
Grades K-5 • 0.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 17% |
| Baths | 1.0 | 2.0 | 21% |
| Square foot | 872 | 1,480.5 | 4% |
| Lot Size | 4,802 | 6,001.5 | 17% |
| Price | $950.0K | $1.02M | 42% |
| Price per sq ft | $1.1K | $731 | 94% |
| Built year | 1924 | 1929 | 33% |
| HOA | $0 | $0 | 50% |
| Days on market | 30 | 140 | 4% |
May 7, 2026
$950,000
Initial Listing
Dec 21, 2023
$825,000
Public Record