Yesterday the Beverly Hill Unified School District Board of Education voted unanimously to go ahead with buying a house on North Doheny Drive, which it hopes to rent out to its schools superintendent. BH has had major supe turnover over the last decade and the board is hoping to keep the latest guy (Gary Woods) in place and to get his kids into the BH district (although according to the Beverly Hills Patch, "Woods has not been involved in any of the discussions regarding the property"--but hey, if he doesn't want it, they can always rent it to out-of-towners who were kicked out of the district in 2010).
According to the purchase agreement, escrow will close on the house in a few weeks and BHUSD has agreed to pay $1.535 million; original asking price was $1.585 million. They'll finance via "a zero-down municipal loan at a fixed interest rate of 3.7 percent over 15 years."
As for the house, it was built in 1926 and has four bedrooms, four and a quarter bathrooms, a formal dining room with wetbar, a remodeled kitchen, stained glass windows, and basement.
· School Board Finalizes Plan to Purchase $1.5M Home [BH Patch]
· 220 North DOHENY Dr [Redfin]