Keller Williams Silicon City is pleased to exclusively present 5530 La Mirada Avenue, a rare opportunity to acquire an income-producing urban infill development site in one of Los Angeles' most active multifamily corridors. Important: CoStar's property record currently reflects 5536 La Mirada Ave. The correct property address for this offering is 5530 La Mirada Ave, Los Angeles, CA 90038. Please refer to the APN, survey, and Offering Memorandum for the correct property identification.
Situated within the Hollywood Community Plan, the Property consists of approximately 0.45 acres (±19,600 SF) assembled into a single development footprint from three consolidated parcels. The site is currently leased to the contractor constructing the nearby Echelon Studios Hollywood redevelopment, generating approximately $15,000 per month in interim income while providing investors with holding revenue during entitlement, financing, or redevelopment planning.
The Property is zoned LAR3 and benefits from both Transit Oriented Communities (TOC) Tier 3 designation and Qualified Opportunity Zone status. TOC Tier 3 provides the potential for planning incentives intended to encourage higher-density residential development near major transit, while the Opportunity Zone designation may offer significant federal tax advantages for eligible investors. Purchasers should independently verify all zoning, density, TOC incentives, Opportunity Zone eligibility, development standards, and governmental approvals.
To accelerate the due diligence process, the Seller commissioned three independent architectural feasibility studies evaluating multiple multifamily development concepts. The studies illustrate potential projects ranging from approximately 51 to 63 residential units, including a variety of studio, one-bedroom, two-bedroom, and accessory dwelling unit (ADU) configurations. These conceptual studies provide valuable preliminary planning information and demonstrate the site's redevelopment flexibility while reducing upfront planning costs and time for prospective developers.
The surrounding Hollywood submarket continues to experience substantial public and private investment, highlighted by the transformative Echelon Studios Hollywood redevelopment, newly completed multifamily communities, mixed-use developments, creative office projects, and major institutional investments. Nearby projects include Link Apartments Vine, 6007 Sunset, 1201 N. Gower, and multiple residential developments currently under construction or fully entitled, reinforcing the long-term strength of the surrounding market.
Location is one of the property's greatest competitive advantages. Positioned just minutes from Hollywood Boulevard, Sunset Boulevard, Silver Lake, Los Feliz, Downtown Los Angeles, and the Hollywood Media District, the Property offers exceptional connectivity via U.S. Highway 101, Metro transit, and major employment centers. The surrounding neighborhood features numerous restaurants, retail destinations, educational institutions, parks, entertainment venues, and medical facilities, creating an attractive environment for future residential development.
Hollywood's multifamily rental market continues to demonstrate strong demand across all unit types. Seller-commissioned rental research identified average monthly rents of approximately $1,866 for studios, $2,015 for one-bedroom units, and $2,344 for two-bedroom units, providing additional market context for evaluating future development opportunities. Rental information is provided for informational purposes only and should not be relied upon as a guarantee of future performance.
Whether seeking an immediate redevelopment opportunity, a covered land play with existing income, or a long-term investment in one of Los Angeles' most supply-constrained housing markets, 5530 La Mirada Avenue offers an exceptional combination of location, planning advantages, development flexibility, and future upside.
Tigran Bakchagyan
Kw Silicon City
