Earlier this month, heavy rains triggered a mudslide that carried part of one home’s patio down onto Laurel Canyon Boulevard. The incident caused days of traffic delays and city officials red-tagged the damaged property, ensuring no one would be allowed on the premises until further notice.
Well, almost two weeks after the mudslides, the house is still red-tagged, but now it’s also for sale. A listing went up Friday, offering the home for $250,000. Only three days later, the price dropped to $200,000.
According to the listing, the seller hasn’t lived in the house for a few years, and, thanks to the red tag, has very little idea what kind of shape the place is in (not surprisingly, it’s being sold as is).
Depending on the extent of the damage, new owners may need to demolish the home and start over, but it’s difficult to say exactly what they would be tearing down. The house is obscured from view at street level by a wooden fence and, because it’s red-tagged, potential buyers won’t be able to do much more than stare up at it from Laurel Canyon Boulevard.
Adding to the confusion: Property records indicate the residence is just 320 square feet, with no bedrooms and a single bathroom. News footage following the mudslide, however, shows a home that is much larger and has multiple levels.
And while $200,000 seems like a steal for the neighborhood, regardless of the necessary work to restore or redevelop the property, it’s actually not all that much less than the seller appears to have paid for the house to begin with. Records show it last sold in 2003 for $320,000.
- 8189 Gould Avenue [Redfin]