5330 Smiley Drive, Los Angeles, California 90016, Los Angeles, 90016 - 2 bed, 1 bath
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Los Angeles, California 90016
This parcel represents a High-Potential Investment Opportunity, listed at a List Price of $950,000, which aligns closely with the $937,365 Fair Market Value. While the existing structure holds a Condition Rating of 6, the true value lies in the LARD1.5 Zoning and SB 8-exempt status, which permits a by-right triplex plus ADU. Located in a premier Opportunity Zone, this asset is perfectly positioned for Buy-and-Hold Investors and Residential Developers seeking to capitalize on the high rental demand near major West Adams tech hubs.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5330 Smiley Drive Subject | $950,000* List Price | 2 | 1 | 817 | $1,147 | - |
A 5326 Smiley Drive Active | $950,000 List Price | 2 | 1 | 872 | $1,089 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1947 (>75 years old) with no evidence of renovation. The listing explicitly markets the property as a development opportunity for a triplex/fourplex, focusing on land value and zoning rather than the existing structure's condition.
Zoned LARD1.5 and SB 8-exempt, this parcel allows for a 'by-right' triplex plus an ADU with no low-income set-asides, offering a rare path to 100% market-rate rental income or sales.
Situated in the heart of West Adams, the property is perfectly positioned to capitalize on massive housing demand from nearby corporate expansions including Apple, Amazon Studios, and HBO.
Located in a premier Opportunity Zone, this acquisition provides investors with significant tax incentives and capital gains advantages in one of Los Angeles' most dynamic growth markets.
At a list price of $950,000 for a small 817 sqft structure, the acquisition cost is heavily weighted toward land value, necessitating immediate development to justify the investment.
The property is served by several schools with low performance ratings, such as Audubon Middle and Susan Miller Dorsey High, which may deter traditional family-oriented buyers or long-term owner-occupants.
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 only for Lot 2, 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 | 20% |
| Baths | 1.0 | 2.0 | 23% |
| Square foot | 817 | 1,446 | 4% |
| Lot Size | 4,800 | 5,998.5 | 16% |
| Price | $950.0K | $980.0K | 45% |
| Price per sq ft | $1.2K | $730 | 96% |
| Built year | 1947 | 1929 | 82% |
| HOA | $0 | $0 | 50% |
| Days on market | 39 | 123 | 5% |
May 7, 2026
$950,000
Initial Listing
Dec 29, 2022
$790,000
Public Record