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Rickety, Burned Silver Lake Shack Sells for $176k Above Asking

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Usually fire sales mean big discounts, but not when it comes to real estate in Silver Lake. We first saw this charred pile back in September, when it was asking $399,000, and we had a sneaking suspicion that it would sell for more. After all, clear away the debris and what's left is a 7,909-square-foot lot and views to the Hollywood sign. And yep: the house has just sold for an impressive $575,000. That's about $60,000 more than the median Los Angeles home price and this isn't even an actual, habitable home. Still, it's a price break compared to other Silver Lake houses, which have a median list price of $858,000, according to Redfin. Now to wait and see what will rise from the ashes of this "likely tear down."

· 1311 Waterloo St., Silver Lake, CA 90026 [Redfin]
· Falling-Apart, Fire-Damaged Shack Asking $400k in Silver Lake [Curbed LA]