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Potential in Bel Air Now Costs a Few Million Less

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We last saw this two bedroom Bel Air house in October, when it was asking a pretty ridiculous-sounding $17.9 million. That number was apparently not a typo. The house is about 1,800 square feet on three-quarters of a hillside acre, and remains "untouched by time" (although the listing no longer says the site has "tremendous potential"). In October, commenters speculated that the owner is trying to sell the plot to a neighbor (and noted that it's listed by agent Joe Babajian, who was accused of mortgage fraud a few years back). Whoever's the target of this odd listing, he's not biting, and the ax has come down on more than $4 million. New asking price is $13.5 million.
· 677 NIMES Rd [Redfin]
· $18 Million Will Get You "Tremendous Potential" in Bel Air [Curbed LA]