It was only listed three days ago, but this property, which consists of two very dilapidated homes on a 6,795 square foot lot on Valentine Street, is the talk of Echo Park. Listed at $99,000, we hear that people want to know why's it so cheap, what condition it really is in, and how build can you big if you tear it down. One rumormonger tells us the place is in far worse shape than the photos show. Here's what Lisa Morgan, the agent, says: "We've already gotten multiple offers, we'll be reviewing all offers this Monday." (There's an open house this weekend.) According to Morgan, the property won't qualify for a conditional loan, so it sounds like it's an all-cash deal. Asked if it was total tear-down, Morgan replied: " Some people have the desire [to tear it down], put a prefab on the property, but some people love the architectural design of the house." Morgan also wasn't sure about how big you could build if you did tear down the two houses, which were built in 1963 and 1946. We'll keep tabs on this junkyard and see if some nutty bidding war results.
· 2312 VALENTINE St [Redfin]