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5164 Romaine Street, Los Angeles, California 90029, Los Angeles, 90029 - 8 bed, 2 bath

5164 Romaine Street, Los Angeles, California 90029 home-pic-0
ACTIVE UNDER CONTRACT$625,000
5164 Romaine Street, Los Angeles, California 90029
8Beds
2Baths
1,602Sqft
2,762Lot
Year Built
1910
Close
-
List price
$625K
Original List price
$625K
Price/Sqft
$390
HOA
-
Days on market
-
Sold On
-
MLS number
TR25246513
Home ConditionPoor
Features
Good View: City Lights, Landmark
Patio
ViewCity Lights,Landmark

About this home

We found 3 Cons,5 Pros. Rank: price - $625.0K(14th), sqft - 1602(52th), beds - 8(95th), baths - 2(50th).

MAJOR FIXER ALERT!! Calling all investors, developers, and savvy homebuyers — check out this INCREDIBLE Hollywood opportunity! Welcome to 5164 Romaine, a fantastic fixer and rehab project located in the heart of Hollywood. This complete fixer is ready to be reimagined and brought back to life! Create your DREAM HOME, execute a FIX-and-FLIP, transform it into an Airbnb/VACATION RENTAL, or hold as a RENTAL INVESTMENT for your portfolio—the possibilities are endless. Nearby homes are consistently selling for $1.1M+, offering significant upside potential. The property even features your very own abundant fruit orchard with mature Persimmon, Guava, and Avocado trees already bearing fruit for future owners. Zoning: LAR3, TOC Tier 2. The existing layout features 8 bedrooms and 2 baths (see current floor plan). However, architectural plans have already been completed and city-approved to convert the property into a 3BD / 2BA main house plus a 1BD / 1BA ADU—two separate units, which may be ideal for multi-generational living, dual rental income-producing investment units, or a live-in-one, rent-the-other strategy. Also, it offers EXCEPTIONAL potential for Airbnb or short-term vacation rentals near Hollywood’s most DESIRABLE tourist destinations, as well as other multiple development possibilities. The time-consuming, hard part is already DONE! Architectural and city-approved plans have been COMPLETED, including pulled permits, mean this project is effectively “shovel ready.” FOR YOUR BENEFIT, instantly save months of time and thousands in architectural fees, holding costs, work completed, and city delays. Located in one of Hollywood’s most dynamic neighborhoods, this property sits near major new developments—including the brand-new 90,000 sqft Echelon Studios Creative Village and several other high-profile projects driving continued economic growth and gentrification in the area. Enjoy convenience and proximity to the 101 Freeway, Netflix Studios, Paramount Pictures, Hollywood Walk of Fame, Runyon Canyon, Griffith Observatory, Hollywood Bowl, Thai Town, Larchmont Village, Hollywood Farmers Market, and trendy hangouts like Good Times at Davey Wayne’s, Found Oyster, and Mama Shelter. Take advantage of the recent Fed interest rate cuts and additional reductions expected soon. Don’t miss this low-priced, rare Hollywood fixer—a true diamond in the rough with TREMENDOUS potential.

Nearby schools

5/10
Kingsley Elementary School
Public,•K-5•0.3mi
3/10
Ramona Elementary School
Public,•K-6•0.4mi
4/10
Alexandria Avenue Elementary School
Public,•K-5•0.8mi
3/10
Harvard Elementary School
Public,•K-5•0.8mi
6/10
Van Ness Avenue Elementary School
Public,•K-5•0.9mi
4/10
Grant Elementary School
Public,•K-6•0.9mi
4/10
Lockwood Avenue Elementary School
Public,•K-6•0.9mi
/10
Lexington Avenue Primary Center
Public,•K-2•1.0mi
6/10
Dayton Heights Elementary School
Public,•K-5•1.0mi
7/10
Los Feliz STEMM Magnet
Public,•K-6•1.2mi
5/10
Cahuenga Elementary School
Public,•K-5•1.2mi
6/10
Charles H. Kim Elementary School
Public,•K-5•1.2mi
4/10
Frank Del Olmo Elementary School
Public,•K-6•1.3mi
7/10
Dr. Sammy Lee Medical And Health Science Magnet Elementary
Public,•K-5•1.3mi
3/10
Joseph Le Conte Middle School
Public,•6-8•0.9mi
5/10
Virgil Middle School
Public,•6-8•1.2mi
6/10
Thomas Starr King Middle School
Public,•6-8•1.5mi
4/10
Young Oak Kim Academy
Public,•6-8•1.9mi
7/10
John Burroughs Middle School
Public,•6-8•2.5mi
4/10
Helen Bernstein High School
Public,•9-12•0.7mi
8/10
John Marshall Senior High School
Public,•9-12•2.0mi
3/10
Rfk Community Schools-Ambassador-Global Leadership
Public,•6-12•2.0mi
4/10
Rfk Community Schools-Los Angeles High School Of The Arts
Public,•9-12•2.0mi
5/10
Rfk Community Schools- For The Visual Arts And Humanities
Public,•9-12•2.0mi
6/10
Hollywood Senior High School
Public,•9-12•2.1mi
3/10
Belmont Senior High School
Public,•9-12•3.0mi
7/10
Fairfax Senior High School
Public,•9-12•3.2mi

Price History

Date
Event
Price
10/24/25
Listing
$625,000
08/12/24
Sold
$380,000
03/09/20
Sold
$645,000
08/03/18
Sold
$630,000
Condition Rating
Poor
This property is explicitly marketed as a 'MAJOR FIXER ALERT' and 'complete fixer,' and the images confirm extensive fire damage and severe disrepair throughout. The house, built in 1910, is boarded up and deemed unsafe for entry. The kitchen and bathrooms are completely destroyed, covered in soot, and require full demolition and replacement. All major systems (electrical, plumbing, HVAC) and finishes are either non-existent, severely damaged, or outdated, necessitating substantial repairs and rehabilitation. While there are approved plans for renovation, the current condition is unlivable and presents significant defects affecting safety and soundness.
Pros & Cons

Pros

Pre-Approved Development Plans: City-approved architectural plans and pulled permits for a 3BD/2BA main house plus a 1BD/1BA ADU significantly de-risk and accelerate the renovation process, saving substantial time and costs.
Prime Hollywood Location: Situated in the heart of Hollywood, the property benefits from ongoing economic growth, gentrification, and proximity to major studios, tourist attractions, and trendy amenities.
High Upside Investment Potential: Positioned as a 'low-priced fixer' in an area where comparable renovated homes consistently sell for $1.1M+, offering substantial profit potential for investors and developers.
Flexible Income Generation: The approved ADU conversion allows for diverse strategies including dual rental income, short-term vacation rentals (Airbnb), or multi-generational living arrangements.
Favorable Zoning: The LAR3 zoning with TOC Tier 2 designation provides significant development flexibility and potential for increased density in a high-demand urban market.

Cons

Extensive Renovation Required: Explicitly marketed as a 'MAJOR FIXER ALERT' and 'complete fixer,' indicating a need for comprehensive and costly rehabilitation beyond the initial purchase price.
Advanced Age of Structure: Built in 1910, the property likely requires significant upgrades to all major systems (plumbing, electrical, HVAC) and may present unforeseen structural or hazardous material challenges during renovation.
Limited Lot Size: The 2,762 sqft lot is relatively small, which could restrict outdoor living space or future expansion possibilities beyond the current approved plans.

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