Speechless in Hawthorne--greatest % single fraud ever posted?

Daedalus_IHB

Daedalus_IHB

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<a href="http://www.redfin.com/CA/Hawthorne/4491-W-129th-St-90250/home/6491333">Redfin listing</a>



Here's a small, old house in a very working-class area close to Inglewood. In 2003 it sold for $264,500. In 2006 it sold for just south of $1.4 Million! Has anyone seen this magnitude of fraud on a single property? Is the sales history a mistake?
 
I think it has to be a mistake but look at the current listing. $500 a foot? Yowza!



<img src="http://srv-londonimages-4.londontown.com/2007/July/HL550793_429long.jpg" alt="" />



Burnin' the good stuff in Inglewood.



<a href="http://i238.photobucket.com/albums/ff203/theadam0901/Stoned.jpg">THIS</a> is the one I wanted to post but it's way too un PC. View at your own risk of being offended.
 
Could some poorly informed person have bought it for the lot? Looking at the overhead view, there seems to be multifamily housing two lots to the west, on a similar sized lot. Maybe somebody had visions/delusions of building a four plex and getting rich.
 
The $1.4M sale was not a mistake, so it has to be fraud. The sales history looks like a mini-Enron before the collapse, with 7 county recordings in less than 2 years among various shell-looking entities...back and forth. The property is R1 only, no multifamily possible. The most recent sale was a trustee sale to an investment co. looking to flip it. I wouldn't want to live there at any price. It's a 2/1 and would probably rent for around $1200/month.
 
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