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Falling-Apart, Fire-Damaged Shack Asking $400k in Silver Lake

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Wow, it's a four-bedroom house in the heart of Silver Lake with a view of the Hollywood Sign from the backyard, all for under $500,000! There's just a little bit of extensive fire damage and decay. Eastsider LA first brought this probable teardown to our attention (commenters say it was hoarder-inhabited and caught fire a few years ago); it's up for probate sale now and "in the counter offer phase," according to the listing. Odds seem good that it'll go for far more than its asking price of $399,999 and odds seem even better that within a year there'll be a brand new stucco-and-wood-slat hipster bungalow on this .18-acre site. Future asking price: $800k maybe?

· Eastside Property: How much would you pay for a burned down, boarded up Silver Lake shack? [Eastsider LA]
· 1311 Waterloo St [Redfin]