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If you’re not afraid to roll up your sleeves and build sweat equity, buying a fixer-upper can be a great way to get a damn fine deal in real estate. But what if you’re already spending millions on your new home? Are you still ready and willing to get your hands dirty?
Most fixer-uppers currently on the market are plastered with five- or six-digit price tags. But in the country’s hottest housing markets, so-called fixers can actually fetch $5 million or more.
We decided to compile a list of the country’s most expensive self-described fixer-uppers, tear-downs, and as-is estates. If you want to find a plethora of these seemingly incongruous luxe fixer-uppers, look to the West. The priciest examples are mostly in California—eight of the top nine in need of TLC are in the Golden State.
For buyers with a deep reserve of cash on hand and an appetite for a project, these nine homes could represent the deal of a lifetime.
9. 139 North Bay Front, Newport Beach, CAPrice: $3.75 million
Fixer facts: This 920-square-foot, three-bedroom cottage on Balboa Island was built in 1948 and is just steps from the sandy beaches of Beacon Bay. Waterfront homes are hard to come by on this upscale Southern California island—and this exclusivity is reflected in the multimillion-dollar price tag. This home is listed for a whopping $4,076 per square foot.
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8. 5 Pine Tree Lane, Rolling Hills, CAPrice: $4 million
Fixer facts: This six-bedroom ranch home in Rolling Hills is located high on a bluff above the Southern California seaside town of Rancho Palos Verdes, home to the Trump National Golf Club Los Angeles. It was built in 1936 on a little over 5 acres of gently sloping land. The home includes architectural plans for a 10,600-square-foot mansion, 800-square-foot guesthouse, pool, spa, and six-stall barn.
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7. Scenic Road at Ocean Avenue, Carmel-by-the-Sea, CAPrice: $4 million
Fixer facts: It’d be hard to find a more desirable property in Carmel than this home located at the end of the town’s main street of Ocean Avenue. This five-bedroom home in need of “re-imagining” is located a block from Carmel Beach, and it’s within walking distance of the town’s many boutiques and high-end restaurants. The house retains much of its ’60s-era charm, with light blue countertops in the kitchen and a pair of light blue and light pink bathrooms. Expect those features to be banished by a new buyer.
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6. 121 Furlong Lane, Bradbury, CAPrice: $4.25 million
Fixer facts: This 1947 ranch-style home in the foothills of Southern California’s San Gabriel Mountains features several equestrian amenities on its 3.3 acres. The home is located in the gated community of Bradbury Estates, which is consistently rated among the most expensive ZIP codes in the country. This home represents “a golden opportunity to remodel or build anew in this ideal setting,” according to the listing.
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5. 45 Valley Road Northwest, Atlanta, GAPrice: $4.3 million
Fixer facts: Atlanta’s upscale Tuxedo Park neighborhood is home to many multimillion-dollar estates (including the governor’s mansion), as well as this four-bedroom, Tudor-style fixer-upper on a 4-acre lot. “This home is in need of renovating, but the ‘good bones’ are here,” the listing reads. Pricey bones.
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4. 2008 Vallejo Street, San Francisco, CAPrice: $5.2 million
Fixer facts: This 1913-era Georgian-style mansion in San Francisco’s Pacific Heights neighborhood was gutted in a fire in 2013, and is in need of total renovation. “Potential improvements are many; an imagination and capital can create a truly amazing San Francisco residence,” says the listing, which notes that this “fixer home” has “considerable upside.” It was originally listed at $6 million, which was $800,000 more than the current asking price.
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3.1854 North Crescent Heights Boulevard, Los Angeles, CAPrice: $5.2 million
Fixer facts: Picking up 1.2 acres in Los Angeles‘ Hollywood Hills isn’t easy, as evidenced by this $5.2 million home described as a “tear down that’s being sold ‘as is’ for land value.” It would be tough to beat the location: It has stunning views of hills and the city, but it’s just up the (winding mountain) road from the famed Sunset Boulevard.
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2. 1579 Griffin Road, Pebble Beach, CAPrice: $5.5 million
Fixer facts: This five-bedroom, Spanish-style mansion in Pebble Beach boasts 5,583 square feet of living space on a 1.1-acre lot. We don’t know anything about the interior condition of this prime piece of real estate, which was built in 1989, but we’re guessing it needs work.
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1. 604 North Crescent Drive, Beverly Hills, CAPrice: $7 million
Fixer facts: This six-bedroom mansion is built on a third of an acre and is within walking distance of the Beverly Hills Hotel and Rodeo Drive. The Old Hollywood–era mansion is located on a quiet, tree-lined street just blocks from other multimillion-dollar listings, including a $15 million, five-bedroom home and a $19 million, seven-bedroom home. At $1,479 per square foot, this fixer-upper could be one of the best real estate deals in all of 90210.
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The post Toolbox Stuffed With Cash: 9 Most Expensive Fixer-Uppers for Sale appeared first on Real Estate News and Advice - realtor.com.
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