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Colonial Revival Flip in Spaulding Square Historic District Asking $1.5 Million

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According to the city's Office of Historic Resources, Hollywood's historic Spaulding Square was developed between 1916 and 1926 by real estate speculator Albert Starr Spaulding, "who attracted buyers to the area using a 'lecture and lunch' strategy whereby interested buyers received a free streetcar ride, a meal, and a talk on the endless possibilities of the area." These days, of course, there's no free lunch and no streetcar; instead, there's the lure of Mills Act tax benefits for historic properties. Now dangling the Mills Act bait is this Colonial Revival cottage flip on Genesee between Fountain and De Longpre. Built in 1917, the 1,680-square-foot bungalow features, per the listing, three bedrooms, two baths, "an artist's workshop/home office ... refinished floors, wood burning fireplace, updated plumbing/electric, earthquake retro-fit, 48" sub-zero refrigerator & wine cooler, Viking range-hood-dishwasher-microwave, granite countertops, new driveway and updated kitchen and baths, central heating and air & detailed woodwork throughout." Sited on a 6,754-square-foot lot, the house last changed hands exactly one year ago today for $1.06 million. It's now asking $1.499 million.

· 1329 N GENESEE Ave [Redfin]