4023 Monroe St, Los Angeles, CA 90029

Description

A rare Silver Lake/Virgil Village view home with sweeping views of the Hollywood Hills and Griffith Observatory. It sits in one of the Eastside's most desirable pockets: close proximity to Sqirl, Courage Bagels, and Budonoki on Virgil Avenue, Erewhon on Santa Monica Blvd, and the coffee shops, and nightlife of Sunset Junction. 4023 Monroe St is a vacant single-story home, currently about 816 sq ft with 2 bedrooms and 1 bath, offered as-is and ready for its next owner's vision. The home already has new 200-amp electrical service, ready to support a full renovation and the permitted addition. Much of the hard work is already done. The City has issued a building permit with stamped plans that add a second floor, expanding the home to about 1,236 sq ft with 3 bedrooms and 2 baths. The new upper level is a private primary suite designed to take in even more of the view. Architecture, structural engineering, Title 24, and plan check are complete, saving a buyer months of design and approvals. The deep lot also offers room to add an ADU of up to approximately 1,000 sq ft at the rear of the house, either alongside the permitted second story or in place of it. Conceptual studies show a two-bedroom, two-bath attached unit with its own entry, creating the option of a main home plus income or space for extended family. Renovate and move in, or rehab and resell into a neighborhood where buyers compete for well-done homes. The RD1.5 lot of about 6,200 sq ft also offers longer-term upside for additional density, and preliminary small lot planning has been done. Minutes to Los Feliz, Hollywood, and the 101. No additional parking is required for the permitted project. Buyer to verify permit status, ADU feasibility and size, zoning, and development potential with the City of Los Angeles.