A condemned house that had been home to a confirmed meth- and bomb-making lab in San Jose has just hit the market for $1.55 million.
Nobody wants to live in the Bay Area anymore, if you're to believe the national media coverage. And yet real estate prices haven't exactly tanked, and what may be a total tear-down opportunity in San Jose is seeking $1.5 million, and it has to be purchased sight-unseen — because it's actively contaminated with meth and the county won't let anyone inside.
Also, it was some kind of bomb-making lab, and helicopter images of the home after its previous occupant was arrested show a backyard and pool that were a complete mess of trash and god knows what.
"Great Opportunity to own large home on a large 6000sqft lot, Great location to freeway and expressway," reads the Redfin listing for 668 Potomac Court. "Home has inactive Meth lab and meth contamination, see County docs noting Garage location, remediation process and subsequent costs associated. Home has not been cleared of contamination and will be transferred to the new buyer in it's current state. No access prior to property being cleared by Santa Clara County's Health Dept. Guidelines."
It's also listed on Zillow, which notes that the seller hiked the price $125,000 five days ago.
The Kobeissi Letter was the first to call out the property on X/Twitter.
"While this is comical, it highlights how much markets have changed," the Kobeissi Letter writes. "Properties that were worthless at one point are now worth millions."
Current state of the housing market:— The Kobeissi Letter (@KobeissiLetter) October 23, 2023
An "inactive meth lab" was just listed for sale for $1.55 million in San Jose, California.
For nearly $1.6 million, you can buy a home that is effectively a tear down with a built-in meth lab.
The worst part?
They just raised the price by… pic.twitter.com/7IctNz9EH2
KTVU attempted to reach the listing agent, Cindy Selleos, of Keller Williams Realty-Silicon Valley, but she did not respond for comment.
The asking price is basically what the current Zillow estimates are for home values in this area. The property next door or across the street at 669 Potomac Court has a Zestimate of $1.56 million, and it presumably was not a meth lab and is not currently condemned.
The KTVU report below discusses what authorities found at the home when the previous occupant, Peter Karasev, was arrested in March. Police found so much explosive material that federal authorities had to be brought in. Allegedly, Karasev was sharing the six-bedroom home with a wife and two kids, but check out the shots of the backyard and the crazy array of solar panels on the roof. No red flags there.