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We are pleased to present 5321 Riverton Avenue, a premier 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 acquire a high-density, institutional-quality development with approvals in place, significantly reducing entitlement risk and accelerating the path to construction. 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 approved plans for a 27-unit residential building offering an efficient and modern unit mix designed to capture strong market rents. All major entitlements have been secured, including LADWP approval to serve the project, and the development includes approved architectural plans and MEP designsubstantially de-risking the pre-construction and entitlement 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 two-bedroom 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, the Burbank Media District, and Hollywood. The surrounding area has experienced a surge in new multifamily and mixed-use development driven by transit infrastructure, including the Metro B (Red) Line and Orange Line, positioning North Hollywood as a premier live-work-play destination. With continued rental growth, strong demographic trends, and a limited supply of fully entitled 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.
Property Type(s):
Lot/Land/Acreage
| Last Updated | 4/14/2026 | Year Built | 0 |
|---|---|---|---|
| Community | NHO - North Hollywood | County | Los Angeles |
Additional Details
| AREA | NHO - North Hollywood |
|---|---|
| LOT | 10799 sq ft |
| LOT DIMENSIONS | 10799 |
| VIEW DESCRIPTION | None |
Location
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Listed with Marcus & Millichap
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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