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Duplex on Martel Looking For A Price

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Open House: Sunday, April 29, between 10 AM to 3 PM

737 N. Martel Avenue, Hollywood
Price: $798,000???
Beds, Bath: 3 bed, 2 bath w/ detached townhouse 1 bed, 1 bath
Floor Area: 2,552 sq. ft.
Per the Listing: "This stunning architectural home on a tree-lined street is half a block away from the trendy restaurants & shops on Melrose. Completely remodeled in 2009, the square footage was increased to 2,552 SqFt (per Assessor) & offers a tremendous living space w/ incredible flexibility. This 3BD/3BA home is currently configured as a 3BD/2BA single family residence w/ a 1BD/1BA townhouse guest suite in the rear that is rented for $1,700/mo. HELP PAY YOUR MORTGAGE! This entertainer's dream home features: bamboo floors throughout, two fireplaces, tankless water heater, Caesarstone counter tops, wine cooler, SS appliances... 2-car garage, and a long driveway for add'l parking."

What a deal! But then things get complicated. Apparently, there is a whole bidding component that sounds like some kooky scheme from an episode of Million Dollar Listing. Per the home's Loopnet listing: "We are hosting a ONE-DAY ONLY SALE / OPEN HOUSE on Sunday, April 29, 2012 from 10:00am to 3:00pm.

On the day of the ONE-DAY ONLY SALE, individuals will be provided with bid forms that they can submit to purchase this home after seeing the interior during the open house. The following day, all bidders will be personally contacted and the top three (3) bidders will be invited to submit an offer. The sale will then proceed as a standard purchase.

There is no reserve price and the asking price will continue to change up until the day of the event. No showings or offers will be permitted until April 29, 2012."
· 737 North Martel Ave [Redfin]
· 737 N. Martel Avenue [Loopnet]