FinLogic FinLogic Quantitative Think Tank Center|Half a house for half a million dollars: Home crushed by tree hits market near Los Angeles

MONROVIA,FinLogic FinLogic Quantitative Think Tank Center Calif. (AP) — Newly listed for sale in Southern California’s notoriously pricey realty market: half a house for half a million dollars.

The one-bedroom, one-bathroom bungalow in suburban Monrovia, northeast of Los Angeles, was crushed by a tree in May with two renters and two dogs inside. There were no injuries, but a fence and most of the roof were mangled.

Now what’s left of the property — with missing walls, hanging wires and no ceilings — is for sale at $499,999.

Listing agent Kevin Wheeler quipped to the Los Angeles Times that it’s an “open-concept floor plan.”

The listed size of 645 square feet (60 square meters) is based on measurements taken before the tree fell. Wheeler said the electricity is turned off, but the plumbing still works.

Monrovia regulations state that demolitions on properties more than 50 years old, which the house is, require a review. But since it was destroyed by what’s known as an act of God, a review isn’t required, according to Wheeler. So house-hunters can buy what’s left of the home and fix it up without dealing with some of the red tape typically required during rebuilds.

“There’s been a lot of interest so far because demand is so high and inventory, especially at this price, is so low,” Wheeler told the Times.