Condemned Bay Area house sells for $1.2 million

Despite having holes in the roof and mildew in the pipes, the agent who sold the home said he received multiple all-cash offers.|
ASSOCIATED PRESS
BY ASSOCIATED PRESS

FREMONT - A condemned house in the San Francisco Bay Area with holes in the roof and mildew in the pipes sold last month for $1.23 million.

Real estate agent Larry Gallegos said Wednesday he received three cash offers after listing the Fremont home for $1 million.

Gallegos says he received non-stop email and phone inquiries about the three-bedroom, two-bath house even though the house is unlivable.

He says two investors bought it and plan to tear it down and build a 4,000 square-foot, "completely green" home they hope to put in the market within five months.

Gallegos says the buyers didn't even enter the house because they had no interest in it but on its location.

He says the median home in Fremont is $1.1 million, compared to $1.7 million in San Francisco.

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