5621 La Mirada Avenue, Los Angeles, California 90038, Los Angeles, 90038 - bed, bath

5621 La Mirada Avenue, Los Angeles, California 90038 home-pic-0
ACTIVE$1,870,000
5621 La Mirada Avenue, Los Angeles, California 90038
0Bed
0Bath
13,635Sqft
7,494Lot
Year Built
1920
Close
-
List price
$1.87M
Original List price
$1.87M
Price/Sqft
$137
HOA
-
Days on market
-
Sold On
-
MLS number
OC25257943
Home ConditionExcellent
Features
View-

About this home

We found 4 Cons,5 Pros. Rank: price - $1.87M(67th), sqft - 13635(83th), beds - undefined(50th), baths - undefined(50th).

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.

Price History

Date
Event
Price
11/10/25
Listing
$1,870,000
12/07/18
Sold
$1,300,000
04/01/96
Sold
$135,000
Condition Rating
Excellent

This listing is for a development opportunity, not an existing, move-in ready home. The property is 'RTI ready' (Ready To Issue permits) for a new, high-density residential building with a 'modern co-living design' and '45 private bedrooms, each with ensuite bathrooms.' The provided images are architectural renderings of this proposed new construction, which will feature brand new, modern kitchens, bathrooms, and finishes throughout. The 'excellent' score reflects the condition of the *intended* new build, as the existing 1920 structure is implicitly slated for demolition or complete transformation to accommodate this project.
Pros & Cons

Pros

Prime Location & Accessibility: Situated in the heart of Hollywood, offering unparalleled access to major job centers (Netflix HQ), entertainment venues, and public transportation, ensuring high tenant demand.
High-Density Co-Living Design: Fully entitled and RTI-ready project for 45 private bedrooms with ensuite bathrooms, maximizing rental income potential and catering to modern urban living trends.
Strong Investment & Income Potential: Positioned for significant returns through robust rental revenue and appreciation, supported by a proven co-living business model and low vacancy risk.
Diverse Target Market: Appeals to a broad tenant base including young professionals, students, corporate housing, and various transitional/affordable housing programs, enhancing occupancy stability.
Development-Ready Status: "RTI ready" and "fully entitled" status significantly streamlines the development process, reducing lead time and regulatory hurdles for investors.

Cons

MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 13635, other record living area = 2599.
Significant Capital & Execution Required: Despite being "RTI ready," the project demands substantial capital investment for construction and successful execution to transform the current property into the described co-living facility.
Niche Market & Operational Complexity: The co-living model, while profitable, targets a specific demographic and involves complex operational management, potentially requiring specialized expertise.
Market Sensitivity to Co-Living Trends: While currently strong, the long-term demand and regulatory environment for high-density co-living spaces could be subject to market shifts or policy changes, impacting future viability.

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