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5642 La Mirada Avenue, Los Angeles, California 90038, Los Angeles, 90038 - 3 bed, 2 bath

5642 La Mirada Avenue, Los Angeles, California 90038 home-pic-0
ACTIVE$1,710,000
5642 La Mirada Avenue, Los Angeles, California 90038
3Beds
2Baths
2,028Sqft
7,014Lot
Year Built
1916
Close
-
List price
$1.71M
Original List price
$1.69M
Price/Sqft
$843
HOA
-
Days on market
-
Sold On
-
MLS number
25599685
Home ConditionFair
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.71M(93th), sqft - 2028(64th), beds - 3(50th), baths - 2(36th).

Hollywood Development Opportunity with Plans for 49 Units Located in the heart of Hollywood, this R3-1 zoned property within an Opportunity Zone offers a premier investment and development opportunity. Current plans envision a five-story building with 49 one-bedroom affordable housing units. Charming Hollywood Craftsman Home with Endless Potential Step inside this rare two-story Craftsman home featuring a classic front porch, cozy fireplace, and abundant natural light. Full of character and timeless appeal, this home offers both comfort today and potential tomorrow. The R3-1 zoned lot provides room to grow in one of LA's most vibrant neighborhoods just minutes from world-famous studios, trendy restaurants, entertainment, and convenient transit options. Nearby Hollywood Development Just a minute's drive from the property, Echelon Studios Hollywood is a modern 600,000sq.ft. studio campus with soundstages, offices, and creative spaces, designed to support content creation and collaboration. The project is expected to be completed in mid-2026, further enhancing the neighborhood's growth and investment potential. Don't miss this chance to own a piece of Hollywood charm with development possibilities!

Price History

Date
Event
Price
11/19/25
Price Change
$1,710,000+1.2%
09/30/25
Listing
$1,690,000
03/29/22
Sold
$1,350,000
10/09/19
Sold
$1,070,000
04/08/19
Sold
$985,000
10/18/94
Sold
$172,000
Condition Rating
Fair
The property, built in 1916, features recently updated kitchen and bathroom areas with modern finishes, including dark cabinetry, light countertops, subway tile backsplash, contemporary fixtures, and laminate wood flooring, making these specific spaces appear move-in ready. However, despite these cosmetic updates, the overall structure is over a century old. The listing emphasizes its potential as a development opportunity, and the property analysis explicitly notes the age as a weakness that may require significant renovation or demolition. While the visible areas are well-maintained, it's highly probable that major systems (e.g., plumbing, electrical, HVAC, roof) and other parts of the 1916 home are outdated and would require substantial investment for a full modernization, aligning with a 'Fair' condition where major components are functional but show signs of being outdated.
Pros & Cons

Pros

Premier Development Opportunity: The R3-1 zoned property within an Opportunity Zone comes with existing plans for a five-story building comprising 49 one-bedroom affordable housing units, presenting a significant investment and development potential.
Strategic Hollywood Location: Located in the heart of Hollywood, the property offers unparalleled access to world-famous studios, trendy restaurants, entertainment venues, and convenient transit options.
Future Neighborhood Growth Catalyst: Proximity to the Echelon Studios Hollywood project, expected to complete in mid-2026, is poised to significantly enhance the neighborhood's growth, demand, and investment potential.
Existing Income/Holding Value: The charming 1916 Craftsman home provides immediate livability or potential rental income, offering a valuable asset during the development planning and approval phases.
Opportunity Zone Benefits: Its location within an Opportunity Zone offers potential tax advantages for investors, further enhancing the financial appeal of the development project.

Cons

Age of Existing Structure: The 1916-built Craftsman home, while charming, is over a century old, which may necessitate significant renovation costs or demolition expenses as part of the development plan.
Above Estimated Market Value: The current listing price of $1.71M is approximately 5% higher than the estimated property value of $1.597M, which could influence buyer perception and negotiation.
Lack of Scenic Views: The property description indicates 'None' for views, which might be a minor drawback for some buyers seeking premium Los Angeles vistas, though less critical for a development-focused acquisition.

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