
Monrovia, California 91016
This property presents a High-Potential Investment Opportunity with a List Price of $799,000—positioned well below the $791,513 Fair Market Value (Note: Market is currently priced at premium). Featuring a Condition Rating of 5, this asset requires professional rehab to address unpermitted units and shared utility infrastructure. However, the vacant delivery and 1,588 sqft footprint offer immediate value-add potential in a neighborhood of million-dollar homes. This is a strategic acquisition ideal for Buy-and-Hold Investors or experienced developers capable of navigating municipal permitting and utility separation.
Property is extensive renovation needed.
Built in 1951, this property is explicitly marketed as a 'fixer' and 'investor's delight.' While it features some recent cosmetic updates like new vinyl flooring and paint, plus a new electrical panel, the presence of two unpermitted units (a garage conversion and a back unit) and shared utility meters represents significant legal and structural defects requiring professional rehab.
Priced as an investor's delight, this property is located within a quarter-mile of million-dollar homes, offering substantial equity growth through renovation and correction of unpermitted spaces.
The entire property is delivered vacant, allowing a new owner to immediately begin improvements and reposition the asset without the delays or costs associated with tenant relocation.
The property features new electrical panels and conduits serving all units, along with a new water heater and designer interior updates in the upstairs unit, reducing initial capital expenditure.
Both the back unit and the garage conversion lack final city permits, which poses significant legal risks and may limit financing options to cash or hard money loans.
The property currently operates with only one meter for gas, electricity, and water for all three units, which complicates utility billing and may require expensive separation for optimal rental management.
Excellent price!!! Investor's delight added value fixer opportunity in Monrovia in (Unincorporated area of Los Angeles County) , this property is all vacant giving the new owner the opportunity to freely do any improvements and make corrections to add value. Cash offers preferred. All showing is by appointment only with listing agent. This property is being sold in its AS-IS condition. This property is within 1/4-mile radius of around million-dollar home sales. . Front house is facing Benrud Street, it is vacant and has its own side yard area, and its own private garage, plus its own driveway and it is 2 bedrooms 1 bath, this house which is in a separate building by itself. Back unit 203 1/2 is in a separate building, is also a 2-bedroom 1 bath, remodeled, this unit does not have final permits as a unit according to the city's records. But the tax assessor records show it as 2 units. The garage was converted to a unit, called 203 B , without any city permits, and it is 1 bedroom 2 bath. The upstairs unit has new designer vinyl flooring, new tile kitchen cabinets, new sink and faucet and under sink piping, new painting in all the rooms. It also has new vinyl window, in the living room. New water heater and new electrical panels serving all 3 units and with new conduits. There is one Gas, Electrical, and Water meter for all units. Bring your architects and explore all your expansion & ADU and renovation possibilities.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 2.9 |
| Baths | 0.0 | 2.1 |
| Square foot | 1,588 | 1,626 |
| Lot Size | 6,048 | 8,274 |
| Price | $799.0K | $1.16M |
| Price per sq ft | $503 | $706 |
| Built year | 1951 | 1925 |
| HOA | $0 | $0 |
| Days on market | 6 | 70 |
Sep 3, 2026
$799,000
Initial Listing
Sep 15, 2017
$645,000
Public Record
Aug 5, 2003
$360,000
Public Record
Apr 10, 2003
$250,000
Public Record