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FREMONT, California — If you paid more than $1 million for a home, you’d expect it to be in great condition.
In Fremont, California, $1 million will get you a house with holes in the roof and a mildew problem.
A home that was condemned back in 2013 just sold for $1.23 million dollars, KTVU reported.
The person who bought the 3-bedroom, two-bathroom home paid for it with cash.
The realtor told KTVU that demand for the house was brisk — with five all-cash offers.
“We had a couple of offers that were very close. Actually, my client when he first met them wanted a little bit more than that with the price they had in their mind,” Larry Gallegos, realtor, told KTVU. “But they ended up being happy with this one.”
The buyer designs green homes. According to KTVU, he plans to build a new four-thousand square foot house on the lot.
“There’s nothing surprising about this,” David Stark, Bay East Association of Realtors, said. “It’s a great example of location, location, location.”
Stark said buying a tear-down to build a dream home reflects a 10-year trend in the Bay Area.