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Flipping the Dairy Farm in The Hollywood Dell

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A reader sent this four-bedroom, three-and-a-half bath, instructing us to look at the sales history. It's certainly...optimistic pricing. The house was sold in September of last year for $685,000 to flippers who were clearly looking for a distressed property (the seller was the former Countrywide Bank). According to the listing, the house was originally a dairy farm house has been restored. All told, about 150 square feet was added in the renovation according to real estate agent Eric McCollum, who notes the original home was "messed up from top to bottom." Now, the home features a "living room with coffered ceilings, wood burning fireplace, and French doors. Formal dining room with original stained glass windows." There are also double paned windows, a large patio and tankless water heater. Fast forward to last month when the property went on the market, with an asking price almost double the last sales price. New listing price: $1.218 million.
· 6403 Primrose Ave Los Angeles, CA 90068 [Redfin]
· 6403 Primrose Ave Los Angeles, CA 90068 [Official Site]