Yes, you read that right, a very small (1,400 sq. ft.) lot with a house in a great location, just south of Wilshire and near Centinela with an asking price of around $400K.
The lot currently houses a 700 sq. ft. 1+1 house which isn’t very functional. This is a classic case of a flip gone wrong. The lot and house was bought for $490,000 in 2005 and the “flipper” had plans to add a second story master bedroom and reconfigure the 1st story. The only progress they made was to put a few upgrades into the 1st story before pulling the plug. With the second story addition, this can actually become a great condo alternative home with views. Perfect for a young couple or a bachelor.
This is a “short sale” which are difficult and can really test your patience. However, I see upside with this project over time, especially if you can pick it up for under $400K. Please contact me if you would like more information and possibly see the property.