Real estate in Los Angeles is one of a kind. Very few places on Earth will a fire sale not result in an enormous discount. But, it just so happens that a literal “tear down” in Silver Lake just sold for over half a million dollars. It was asking for $399,000 and sold for $575,000 which is about $60,000 more than the median Los Angeles home price (Bianca Barragan, Curbed LA).
It’s amazing what views of the Hollywood sign can do to the price of a shack that literally cannot be lived in. This is why we love real estate.
