5321 Riverton Ave, Los Angeles, CA 91601

The LAAA Team and Raymundo Group of Marcus & Millichap are pleased to present 5321 Riverton Avenue, an entitled multifamily development opportunity located in the heart of North Hollywood, one of Los Angeles’ fastest-growing rental submarkets. Positioned within a federally designated Opportunity Zone and benefiting from Transit Oriented Communities (TOC) Tier 3 incentives, the project offers investors a rare opportunity to immediately commence construction on a high-density, institutional-quality asset in a supply constrained, transit-rich location. The property is surrounded by significant ongoing development, strong rental demand, and continued public and private investment, making it an ideal long-term hold or build-to-core strategy.

This prime ±10,799 SF lot will be delivered entitled with plans for a 27-unit residential building offering an efficient and modern unit mix designed to capture strong market rents. All necessary approvals have been secured, including LADWP approval to serve the project, and the development includes fully approved MEP plans—substantially de-risking the development timeline and pre-construction timeline. The project spans approximately 31,622 square feet (4.3:1 FAR) and is designed as a five-story building with a height of 56 feet, featuring subterranean parking with 23 on-site spaces. The unit mix includes 3 one-bedroom units, 16 two-bedroom units, 2 three-bedroom units, 4 penthouse twobedroom units, and 2 ELI-designated affordable units, aligning with TOC requirements. The site offers approximately 80 feet of frontage along Riverton Avenue with a depth of ~135 feet and is currently improved with two residential structures and a garage/storage building.

Located within the NoHo Arts District, the property benefits from exceptional walkability (84 Walk Score), strong transit accessibility, and proximity to major employment hubs including Universal Studios, Burbank Media District, and Hollywood. The surrounding area has seen a surge in new multifamily and mixed-use developments driven by transit infrastructure, including the Metro B (Red) Line and Orange Line, positioning NoHo as a key live-work-play destination. With continued rental growth, strong demographic trends, and limited RTI development opportunities, 5321 Riverton Avenue represents a compelling opportunity to develop a high-density asset in one of Los Angeles’ most dynamic and evolving neighborhoods.