ECHO PARK ––A fire that broke out in the middle of the night in March 2013 turned a classic Craftsman bungalow at the southwest corner of Scott and Lake Shore avenues into a charred ruin. About 18 months after the fire, the nearly century-old home and an attached building went up for sale at the end of August for $199,900, according to Redfin. Not only would a buyer have to rebuild or demolish the structure, the owner was demanding all-cash offers and the corner property had other issues that were described in the listing:
Please note: entire structure is encroaching on neighbor’s lot. In addition to this encroachment, several restrictive easements may exist where the subject is servient to the neighbor’s property …. Please keep this information in mind when submitting an offer
Apparently all that fire damage and questions about the property line didn’t matter to at least one buyer. The house went into escrow within a week and by the end of September it had changed ownership for $380,026 – or $181,026 over asking.