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Mar Vista Fixer Sells For More Than $1MM in Nutso Bidding War

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Mar Vista's a funny place. On the surface it looks like a fairly dull Westside neighborhood, but on closer inspection reveals itself to also be incredibly diverse, highly livable, and near enough the beach to get an ocean breeze or two when the late-summer furnace inevitably kicks in. People seem to have noticed, because the local real estate market is doing some wildly brisk business. Take this fixer, which hit the market in August for the first time in 50 years. With three bedrooms and two bathrooms in its 1,830 square feet, the house has a heap of mid-century charm, "a formal living area that easily has the potential to create an open great room concept," an inner courtyard, and persimmon trees in the backyard. It also, in the words of a Redfin agent, "needs new everything." It was listed for sale--as is--for $849,000. Twelve days and one bidding war later, the sale was pending, and it closed yesterday for $1.03 million. What was that about the market cooling down?

· 3480 Wade St. [Redfin]