Record $15 Million "Fixer" Reduced by Almost $5 Million - Frank Lloyd Wright's Ennis House in Los Feliz

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Real Estate Agent with COMPASS DRE# 01339266

In June 2009 I blogged about Frank Lloyd Wright's Ennis House in Los Feliz which was listed For Sale with a record breaking $15 Million Price Tag. 

Now in February 2010 the List price has been reduced by almost $5 Million to $10,495,000.

The original house (measuring 10,000 sq ft) and chauffeur's house/garage were damaged in the 1994 Northridge earthquake and were red-tagged.

Since The Ennis house has been designated as a city, state and national landmark, the house has a conservation easement to protect it from demolition or insensitive alteration.

The Listing History doesn't indicate that the property has been in escrow since hitting the MLS last year, so it will be interesting to see if anyone shows real interest at the reduced price.

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Stewart Penn - BRE# 01339266 05/16/2010 09:01 AM
Topic:
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LATE NIGHT - EARLY MORNING AT ACTIVERAIN
Tags:
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Rainmaker
1,080,029
Sharon Alters
Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL
Realtor - Homes for Sale Fleming Island FL

Stewart, this looks like a great house - and that it is still damaged.

Feb 05, 2010 01:37 PM #1
Rainer
75,709
Joel Prince
The Principle Group, Inc - Hixson, TN
Hixson/Soddy Real Estate Broker

You think you could do an FHA 203k loan on that one? : )

Feb 05, 2010 03:04 PM #2
Rainmaker
1,325,251
Nick T Pappas
Assoc. Broker/Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, @HomesBirmingham & Providence Property Mgmnt, LLC Hun... - Huntsville, AL
Madison & Huntsville Alabama Real Estate Resource

Stewart, I really love Wright homes.  I spent many years in Chicago where there are lots of his buildings...I've taken many tours and of course the homes are all in good repair...kind of sad to see this one in such bad condition.

Feb 05, 2010 03:11 PM #3
Rainmaker
564,285
Steve, Joel & Steve A. Chain
Chain Real Estate Investments & Mortgage, Steve & Joel Chain - Cottonwood, CA

Stewart,

There are a number of big fans of FLW. I would advertise at his school in Colorado. There are also AIA's that have license to some of his plans. I would pursue some of those channels.

Steve

Feb 05, 2010 03:21 PM #4
Rainer
9,417
Eugene Ridenour
Prudential California Realty - Los Feliz, CA

I know it's had some significant interest from buyers. But it's still very expensive at that price, especially given the amount of restoration still needed. I do hope a concerned buyer purchases this treasured piece of architecture and restores it to its grandeur. I've been inside and it's a sight to be seen. And the views are spectacular as well.

Mar 24, 2010 04:52 AM #5
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Rainmaker
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COMPASS PALM SPRINGS | Stewart Penn

COMPASS Palm Springs - Broker Associate
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