There was a “must sell” flip gone bad on Madra (5980?) that finally sold at the end of 2007. It was first listed at up to 1.6m, and sold for less than $1m. I think it was about 3500 sq ft and some very extensive rehab work was done there.
You are right this was flip gone very very bad. They paid 869K and it took almost 2 years and probably put in about 150 – 200 in renovation costs. So cost including carrying was about 1.150 – 1.2. Sold recently for 970 as I recall. Buyers got a pretty good deal, but there were lots of stuff done in the remodel that didn’t come out well and looked cheap.
I looked at this hard to buy for myself, but knowing all that was needed my target at the time was $ 700 and they wouldn’t listen to a number at that level. So another fish caught the knife.
