5621 La Mirada Avenue, Los Angeles, California 90038, Los Angeles, 90038 - 0 bed, 0 bath
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Los Angeles, California 90038
Analysis of 5621 La Mirada Avenue, Los Angeles, California 90038 is currently available with a list price of $1,870,000. The property maintains a Tear down Condition Rating (10/100), reflecting significant deferred maintenance. This property is best suited for experienced investors or developers prepared for substantial renovation work. 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 land value only, full reconstruction required.
The property is marketed as an RTI (Ready to Issue) development opportunity for a 45-bedroom co-living project. While the images provided are high-quality architectural renderings of a modern facility, the actual structure on-site dates back to 1920 and is intended for demolition to facilitate the new high-density construction. The value of the listing is based on the land and the approved permits for redevelopment rather than the existing improvements.
The project is RTI (Ready to Issue) ready, allowing an investor to bypass the lengthy and unpredictable Los Angeles permitting process and move immediately into the construction phase.
Situated in a high-demand rental pocket near Netflix headquarters and major transit corridors, the property is ideally positioned to attract a steady stream of young professionals and corporate tenants.
The modern co-living design featuring 45 private bedrooms with ensuite bathrooms maximizes rental density, offering significantly higher revenue potential per square foot than traditional multi-family layouts.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 13635, other record living area = 2599.
As a ground-up development project, the buyer must navigate high construction costs, labor management, and the inherent risks of building in a dense urban environment before realizing any cash flow.
The co-living asset class requires more intensive property management and higher operational oversight compared to standard residential units due to increased tenant turnover and shared common spaces.
RTI ready! This Hollywood project offers an excellent investment opportunity in a high-demand rental market. Situated in the heart of Hollywood, close to major job centers, schools, and public transportation. With a modern co-living design, 45 private bedrooms, each with ensuite bathrooms—ideal for young professionals or transitional housing program. Walking distance to Netflix headquarter and near the Walk of Fame, TCL Chinese Theatre, Hollywood Bowl, Sunset Boulevard &Hollywood Nightlife , Downtown Los Angeles, and everything else Los Angeles has to offer. This is a great opportunity for housing groups specializing in student housing, young professionals entering the workforce, corporate housing, healthcare assisted living, transition and affordable housing. Tenants will enjoy all the benefits of modern living in a prime area of Hollywood near the 110 Fwy. It has a strong rental income potential, the project is positioned to generate significant returns for investors through both rental revenue and appreciation upon sale. This Hollywood Project represents a rare opportunity to invest in a new, fully entitled, high-density residential building designed for long-term rental income or resale. With a proven co-living business model, low vacancy risk, and prime Los Angeles location, this project offers investors stable cash flow and significant upside potential.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 2.0 | 50% |
| Baths | 0.0 | 2.0 | 50% |
| Square foot | 13,635 | 3,474 | 75% |
| Lot Size | 7,494 | 6,436.5 | 75% |
| Price | $1.87M | $1.01M | 75% |
| Price per sq ft | $137 | $294 | 25% |
| Built year | 1920 | 1924 | 25% |
| HOA | $0 | $0 | 50% |
| Days on market | 163 | 191 | 25% |
Nov 10, 2025
$1,870,000
Initial Listing
Dec 7, 2018
$1,300,000
Public Record
Apr 1, 1996
$135,000
Public Record