This house has a history – it was once the family compound for Alaska Airlines! It was foreclosed in 1994 when the lender received no bids and took it back for the balance owed of $6,372,931 – and they sold it for $3,350,000 six months later. It was then resold for $4,000,000 in 2001.
At the height of the market in 2007, the former owners of this property took out a mortgage for $8,500,000, but the lender foreclosed in 2014. They finally sold it for $2,437,500 a year ago, and those new owners just flipped it for $2,995,000 or $3,750,000 depending on the data source. This time it was marketed and sold as a vacant lot with approved plans.
This is what it looked like in 2017:
I bought (and still own) a much smaller (150 sq metres) house that looked and smelled pretty much like that 18 years ago. It took me two years to fix up to as new condition 🙂
Good heavens! How does a property become that messed up?
The house was 11,238sf and built in 1984. If they only had 2-4 people living there, then parts of the house could have gone years without ever being seen! The basement could have unseen for a decade at a time.
Buy the right-sized house!