Outstanding development opportunity in the thriving Westlake neighborhood. Situated on a nearly 6000-square-foot lot, 2576 W 5th Street offers a prime development opportunity in a central Los Angeles location. The current structure, a single-family home, in need of extensive renovation, awaits a fresh vision to transform its full potential.This R3-zoned lot provides the flexibility to build up to 4 units (buyer to verify), and the city has issued permission to add a driveway for easy access. Nestled between Koreatown and Downtown LA, Westlake is known for its cultural vibrancy, walkable streets, and proximity to some of the city's most dynamic dining, shopping, and entertainment scenes. Minutes from MacArthur Park, an iconic Los Angeles landmark, and conveniently close to transit options, making it ideal for future tenants or residents looking for both a lively neighborhood and commuter convenience.2576 W 5th Street is a rare opportunity for the right investor to bring new housing to one of LA's most diverse and desirable urban settings. Property is sold as-is, and the seller, broker, and agents make no guarantees on zoning or usage.
Property Details
Property Features
Property Information:
Architectural Style: Bungalow
Year Built: 1940
Stories: 2
Living Area: 656 SqFt
Listing Office:
Office Name: The Agency
Office Phone: (424) 230-3700
Listing Agent: Marc Silver
Interior Features
Interior Information:
Interior: Loft
Fireplace: None
Bedroom and Bathroom Information:
Full Bathrooms: 1
Total Bedroom Count: 1
Exterior Features
Exterior Information:
Private Pool: No
View: None
Parking Information:
Parking: On Street
Lot Features
Lot Information:
Lot Size: 0.13 Acres
Utilities
Utilities Information:
Heating: None
Cooling: None
Other
Directions Information:
Directions: North of 6th Street, Between Ocean View Ave and Coronado Street.
Price Information
Listing Price Info
Price Summary:
List Price: $795,000
Price Per SqFt: $1,212/SqFt
Tax Information:
Annual Amount: $4,962
Tax Year: 2021
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Housing Market Comparison
See how this home compares to others in Los Angeles, CA.
This property is $226.5K less than the Median Sold Price and $572/SqFt more than other homes in Los Angeles, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #24457627
Listing Office:
Office Name: The Agency
Office Phone: (424) 230-3700
Listing Agent: Marc Silver
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 12/22/2024, 11:21:00 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
Nov 25, 2009
Nov 25, 2009Home Sold
$340,000
Oct 15, 2002
Oct 15, 2002Home Sold
$235,000
Jul 19, 2000
Jul 19, 2000Home Sold
$116,500
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$4,962
$405,446
2020
$4,815
$401,289
2019
$4,798
$393,422
2018
$4,697
$385,709
2017
$4,697
$378,147
History based on county public records data.
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NMLS#3030
Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
6
/10
Charles White Elementary
2401 Wilshire Blvd
Distance between this listing and this school0.23 miles
Public District Grades 1-5
4
/10
MacArthur Park Elementary School
2300 W 7th St
Distance between this listing and this school0.44 miles
Public District Grades KG-5
7
/10
Hoover Street Elementary
2726 Francis Ave
Distance between this listing and this school0.61 miles
Public District Grades KG-5
Nearby Schools
6
/10
Equitas Academy 4
631 S Commonwealth Ave
Distance between this listing and this school0.37 miles
Public Charter Grades 5-8
5
/10
Citizens of the World Charter School Silver Lake
110 N Coronado St
Distance between this listing and this school0.43 miles
Public Charter Grades KG-8
6
/10
Rise Kohyang Middle School
3020 Wilshire Blvd Fl 2
Distance between this listing and this school0.51 miles
Public Charter Grades 6-8
Nearby Schools
2
/10
Harold Mcalister High (Opportunity)
611 S Carondelet St
Distance between this listing and this school0.18 miles
Public District Grades 6-12
9
/10
Rise Kohyang High School
600 S La Fayette Park Pl Fl 3
Distance between this listing and this school0.21 miles
Public Charter Grades 9-12
4
/10
New Village Girls Academy
147 N Occidental Blvd
Distance between this listing and this school0.53 miles
The neighbors living near this home have an average income of $28,239. Most Los Angeles, CA residents have annual incomes less than $35k. The majority of families are single, no kids. The majority of residents in this area have high school diploma education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 2576 W 5th St
What is the listing price of this property?
The listing price of 2576 W 5th St property is $795,000.
What type of property is this?
The property 2576 W 5th St is a house located in Los Angeles, California, 90057.
Is this property for sale now?
Active Listing: 2576 W 5th St is For Sale (Active/New) which means the seller is accepting offers.
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $4,962 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on November 25, 2009 for $340,000. (source: MLS/tax record).
How many bedrooms and bathrooms does this property have?
The property at 2576 W 5th St has 1 bedroom and 1 bathroom.
What is the square footage of this property?
The property 2576 W 5th St is 656 SqFt (source: MLS/tax record).
Which year was this property built?
The year of construction for 2576 W 5th St is 1940.
This home is located at 2576 W 5th St in Los Angeles, CA and zip code 90057 in the Central LA neighborhood. This 656 square foot home, which was built in 1940, sits on a 0.13 acre lot. Features: 1 bedroom, 1 bathroom. It has been listed on Rocket Homes since October 29, 2024 and is currently priced at $795,000.
Los Angeles, CA housing market in November 2024 saw over 512 listings sold above listed price, more than 177 sold at listed price and over 657 sold below. The number of homes for sale in Los Angeles, CA decreased by 0.6% between October 2024 and November 2024. While the average time on the market in November 2024 was 38 days, the median list price was $1,021,532.
From Rocket Homes Real Estate and based on county public records data.