This blog post is a bit different from the previous. This is a 1500 sqft, single family residence in the mid-city: 1622 Menlo Ave., Los Angeles. Fair market value for this property should be around $365K.The bidding action was probably something fierce. The starting bid was only $24K; the property sold at $200K.
It probably has a good chance of being rentable quickly. Say an additional $50K of input for rehab, and net $100K on a sale in a year.
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