524 W 85th St, Los Angeles, CA 90044

Property Description

Welcome to 524 & 526 W 85th St, Los Angeles CA. Both units to be delivered 100% vacant. Non-rent-controlled, turnkey duplex with RTI plans and permits to convert the garages into two ADUs, forcing massive appreciation. Solid investment opportunity for owner/user with potential to have four units on the gated lot. Built in 2012, it’s not subject to the LA city RSO or AB 1482. Each unit comes with a two-car garage. Plenty of room to park two more cars in the driveway on an extra-large lot. The owner spent over 1.5 years and $13,000 to get architectural plans and permits to convert the left-side, two-car garage into a 1 bed/1 bath unit and the right-side, two-car garage into a studio. Perfect for a savvy house hacker or non-profit to use for a group home or co-living. The front unit, 524, has 5 bedrooms, 3 full bathrooms, and a ¾ bathroom, which was legally converted from a laundry room with permits. Stacked washer and dryer hookups were installed in the kitchen to maximize the use of space. The living and dining rooms are so large that you could convert the dining room into a bedroom and create a dining space in the living room. The back unit, 526, has 5 bedrooms, 3 bathrooms, a new stainless steel Whirlpool OTR microwave, a new contemporary ceiling fan, a new high-efficiency Samsung washer/dryer set, and elegant new ceiling lights. Kitchens in both units have quartz countertops, a stove, and a refrigerator. Both units were updated with new smart thermostats, hot water heaters, paint, luxury-vinyl-plank flooring, security doors and bars on windows. LA city permits were issued for the quick releases in the L1 bedrooms. Solar panels, leased from SunRun for 25 years, nearly eliminate your electricity bill. Easy access to 110 Freeway. One block from the Metro J Line (Silver) on the 110 freeway, offering rapid transit to Downtown LA and East LA. The Vermont Transit Corridor, opening in 2028-2030, will connect you from Hollywood Blvd to 120th Street. Just a few blocks to major developments such as the Vermont/Manchester Transit Priority Project. A discounted mortgage rate of 4.75% for 30 years and a $4,000 credit toward closing costs are available for qualified buyers. Many grants and special financing programs with as little as 3% to 10% down are available for first-time buyers and/or owner-occupiers.