Razed Altadena home sells for $100K over its asking price as LA residents flee fire-ravaged houses

A home in Altadena, CA, that was burned to the ground by last month’s Eaton fire has been sold for more than $100,000 above the asking price — as questions remain about the future of the Los Angeles suburb in the wake of the devastating blazes.The 9,109-square-foot vacant lot on West Calaveras Street, which until early January had been used as a rental home, was sold last week for $550,000 in an all-cash deal.It is the latest in a growing number of decimated properties to hit the market in recent days—following a similar listing for an incinerated home in Pacific Palisades, which was sold for “well over” $1 million, despite being listed for $999,000.Real estate agent Brock Harris, who represented the seller in the Altadena deal, says the burnt-out piece of land, which was originally listed for $449,000, generated a frenzy of interest.Speaking to Realtor.com, Harris, with the firm Brock & Lori, says he listed the vacant lot a week ago, and before long was getting up to 20 calls a day about the property.Although some of the callers were curious “looky-loos,” he says, the first serious offer came within a day. Land listings typically can linger on the market “for years,” he explains.What sets this piece of property apart is that it is a flat lot, which is rare in hilly Southern California.

Therefore, it is more valuable to homebuilders and house flippers.Still, even he was a little surprised by the swiftness of the sale so soon after the fire, he says.“I didn’t expect so many serious offers.”The tidy ranch-style home, built in 1939, was last sold in August 2023 for $965,000 to an investor, who then rented it out.After the house was reduced to rubble in January, Harris says, the owner decided to sell the land, rather than becoming mired in what could be an intensive three- to five-year rebuilding process.“She wasn’t sure what the value of the home would be as a rental when she was finished building it,” Harris explains.

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