Doubtful. Look at a map of Los Angeles... very spread out, and the big problem with PE's operations is that they were all mixed-traffic, and congestion slowed them down. Pacific Electric, by that point, was more of a real estate deveoper than a transit operator and would have nothing to gain by doing so due to the expense involved.
Note now that all of the light rail Los Angeles is putting in is grade-separated and functions more like a rapid transit system than a traditional streetcar. Toronto, Canada and Melbourne, Australia are the two biggest systems where traditional mixed-traffic streetcar operations exist- and even there, new expansion is all grade separated.