203 Benrud Street, Monrovia, CA 91016

Property Description

MAJOR $100,000 PRICE REDUCTION! NOW OFFERED at $699,000 - A total reduction of $345,000 from the original asking price.! The entire property is now Vacant and easy to show!! Exceptional fixer investment opportunity in the desirable Monrovia area of unincorporated Los Angeles County!! Cash offers preferred, or 20% or more down payment. No FHA offers. This unique multi-structure property is situated on an approximately 6,048 square feet lot and offers tremendous potential for investors, contractors, and savvy buyers looking to capitalize on its value-add possibilities. The front home is facing Benrud Street features, 2 bedroom 1 bath, with a nice floor plan original hard wood floors, offering a private large driveway to fit several cars, it also offers 1 car attached private garage, and a small side yard. The separate rear building includes above the garage , remodeled bright 2 bedroom 1 bath unit , with updated flooring, kitchen cabinets, newer windows , etc. this is 203 1/2 unit number, and according to city records it has several permits as a recreational room not a legal unit, however the tax assessors 's records shows this property as 2 units with 4 bedrooms and 3 bathrooms. Unit 203 B is a double car large garage converted into a 1 bedroom 2 bath unit, with some renovations done to it, it also has a basement going down the stairs. The seller has initiated the process with an architect to convert the non permitted garage conversion to a legal unit using SB9 privileges , and the turn the upstairs 203 1/2 unit into a legal ADU unit. After all these units have been approved by city and all the work has been done, there would be significant increase in value and total rents. This property also has 2 large areas that can be used at storage area and rental if it is approved by city.