The asking price is $350,000, for 2 bedrooms, one bath and just 765 square feet — about the size of a hotel suite.
Depending on the down payment, a 30-year mortgage for that home, if it sold at the $350,000 asking price, would be likely to run about $2,100 a month, not including property taxes and insurance.
Tran said the house is currently under contract and spent just 10 days on the market before four all-cash offers rolled in. While Tran wouldn’t disclose the selling price because the transaction hasn’t closed, he said the seller is “very happy” with the price.
Tran said he didn’t know what the buyer’s plans are — whether the property will be razed and rebuilt to match the stucco homes in the neighborhood or rehabbed.
-RW
Looks like could be, and is surrounded by, commercial property and not residential. Shack alright, and excessively expensive even for commercial because looks to be small lot. Maybe it is a historic pioneer shack! I thought I could see an arrow still sticking out of it. lol
ReplyDeleteGiven its size and age, if the new property owners, likely Asian who deal primarily in cash, decide to do any kind of modifications, it will require extensive seismic upgrades which may exceed the purchased price of the structure.
ReplyDeleteThen again, I don't know how easy the City makes demolitions. It may end up being a wash.