The listing price of $499,999 for a one-bedroom home with severe damage seems enticing, but potential buyers will face substantial renovation costs and challenges.
Wheeler noted homeowners looking to purchase this property are expected to be those willing to engage in renovation projects or working within construction.
Due to the home's destruction being classified as an 'act of God,' buyers can bypass the usual bureaucratic hurdles typically required by Monrovia's local regulations.
Despite offering an opportunity, the true costs associated with reconstructing the home, estimated at $350-450/square-foot, could deter many potential buyers.
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