5326 Smiley Drive, Los Angeles, CA 90016
- $950,000
- 2
- BD
- 1
- BA
- 872
- SqFt
- List Price
- $950,000
- Status
- ACTIVE
- MLS#
- 26829999
- Year Built
- 1924
- Bedrooms
- 2
- Bathrooms
- 1
- Living Sq. Ft
- 872
- Lot Size
- 4,802
- Acres
- 0.11
- Days on Market
- 88
- Property Type
- Single Family Residential
- Style
- Traditional
- Property Sub Type
- Single Family Residence
- Stories
- One Level
Property Description
Located in a premier Opportunity Zone in the heart of West Adams, this LARD1.5-zoned parcel offers a rare, SB 8-exempt, and non-rent-controlled development opportunity with a streamlined path to market-rate construction. This is for only Lot 1, as seen in photos, provides an opportunity to build a "by-right" triplex, plus the addition of an ADU yields a fourplex in one of the nation's fastest-growing sub-markets. Capitalize on the immense demand from expanding nearby offices for Apple, Amazon Studios, and HBO. Future residents will enjoy easy access to Whole Foods, Mizlala, the newly opened Maydan Market, and all the trendy destinations along Adams Blvd. The site is uniquely positioned as a standalone project or as part of a strategic five-lot assembly totaling a half-acre with plans for 16 small-lot homes. Unlike many central LA developments, this project requires no low-income set-asides or replacement units, allowing for 100% market-rate rental or sales potential. This is an ideal acquisition for developers seeking a high-margin exit or a stable, long-term hold in Los Angeles' most dynamic growth hub.
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Additional Information
- Pool Description
- None
- Heat
- Wall Furnace
- Cooling Description
- None
- View
- None
- Attached Structure
- Detached
Listing courtesy of Listing Agent: Ari Wintraub (ari.wintraub@sothebyshomes.com) from Listing Office: Sotheby's International Realty.
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