I showed a contractor client this duplex in Silver Lake this week. It is on a great street in a great location with views (you can see the Hollywood Sign off in the distance in the last picture), but there is a ton of issues with it. Not only does the foundation need bracing, but more immediately there is an approximately 100' long 10' tall retaining wall in the backyard that could crumble at any moment. This wall separates the hillside of the neighboring property, and if it goes literally the neighbors house could slide into this properties yard. As you can see it has been braced about halfway up, but with the huge cracks in it, I could see the tops of it crumbling. This could happen in days, month's, or maybe a year, but it will definitely happen if not addressed. On top of that because of the foundation, the entire house and stairs are leaning and it will only continue to get worse over time.
Pictures by Eric Smilay for Smilay Properties
Of course all of this is fixable, but will cost a considerable amount of money, time, and effort. Where most will see a huge problem, I am sure the right buyer (hopefully my client) will see it as an opportunity. Since in this condition the property will not be able to be financed, it will require an experienced contractor or investor with the ability to make the purchase and repairs in all cash. It would only makes sense to take a project like this on though if the price is right.