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Over a stream and under a bridge lies of a one of the 10 properties sold in Los Angeles County for under $250,000.
Compass Real Estate is selling a one bedroom one bathroom apartment in Alhambra that’s sought after despite – or possibly because of – its unique location.
Built in 1949, the 450-square-foot apartment includes a terrace above the stream and a rooftop patio separated from a road bridge with a fence.
“This property is ideal for a young professional that wants to be close to downtown for work. This unique and affordable one bedroom unit is a cosmetic fixer,” agent Doug Lee wrote in the posting description.
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Lee told USA TODAY that LA’s high housing costs has enticed over 200 people to pursue adapting to this troll-like lifestyle. In Southern California, the median sale price for a single-family house is $785,000, according to Norada Real Estate Investments.
“The property hasn’t been lived in for close to 20 years,” Lee said. “The plumbing under the sinks needs to be tightened. Little things like that.”
Of the 10 LA County properties under $250,000, eight are in the Palmdale or Lancaster area, Lee said.
“Where else are going to be able to live at this price point so close to downtown LA?” Lee said. “Anyone that makes $80,000, your maximum pre-approval is up to $400k. Everybody is trapped. It’s either this or you’re stuck in rents land.”
The apartment’s price being $100,000 less than the average cost of a one-bedroom home in the Alhambra neighborhood is part of Lee’s strategy to make up for the lack of a dedicated parking spot.
Lee added that the home belonged to a high school friend’s parents who bought the apartment in 2005 for about $72,000.
Agents are currently trying to clear the obstacle of the bridge presumably being public property by communicating with the U.S. Army Corps of Engineers, he said.
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