Bay Area Property Listed for $400K Turns Out to Be Underwater
TL;DR
A property in Alameda, California, is on the market for $400,000, considered a bargain despite being underwater. The current owner bought it sight unseen for $100,000 at an auction, only to discover its submerged state. Realtors believe the location has potential for a luxurious home built on stilts, though it will require significant investment and special permits. The site offers peaceful waterfront views and could attract wealthy buyers from Silicon Valley.
- Property investor bought Bay Area 'bargain' for $100,000 sight unseen - then got horrible surprise. Can you se Daily Mail
- You can own prime property in this Bay Area city for $400000 but there's a catch... KGO-TV
- Underwater Alameda property selling for $400K KTVU FOX 2 San Francisco
- Owner lists property for sale after buying it without realizing it is entirely underwater WHIO
- Property Available on Alameda's Exclusive Grand Street for Just $400K Alameda Post
Want the full story? Read the original reporting
Read on Daily Mail