Dilapidated house in Los Angeles neighborhood listed for $475,000
Even the sellers know the house is a disaster, but they are still asking $475,000 for it, according to the listing on Coldwell Banker. The home, located at 16652 Itasca St., in the Northridge area of Los Angeles, is listed as a "contractor's special," on Coldwell.
"This home needs a complete rehab. The pictures say everything except for the fact that this home is located at the back of a cul de sac in a wonderful well-maintained neighborhood. This is truly the worst home in the best neighborhood," the listing reads.
The single-family home has three bedrooms, two full bathrooms and two fireplaces. At 1,276 square feet, the home is priced at just over $370 per square foot and the sellers insist on a cash-only sale, according to Coldwell.
Surprisingly, the home already has five offers, according to CBS LA. The home is in dire need of major cleaning and repairs including a huge hole in the ceiling and roots growing in the shower, according to the station.
Ben Keisari, real estate investor, said the home looked like something out of a horror movie, but that it did not need to be torn down, though he would tear it to the studs and rebuild from there, according to CBS LA.
The price tag hasn't deterred buyers, despite the fact that it was built in 1956 and that the average home price in this neighborhood is $345,000, according to the Daily Mail. The neighborhood may be the biggest selling point as it often attracts Hollywood professionals and pro athletes, according to the Daily Mail.
Everything left on the property comes with the home including an old stove and dishwasher, according to the listing. Buyers would have to tackle a deteriorating home exterior as well as cleanup of the property, according to Coldwell.