Cheap Homes for Sale in Los Angeles, CA

Table Of Content

• Cheap Homes for Sale in Greater Los Angeles, CA
• Redfin Selling Options
• Explore homes by type and style in Los Angeles
• There are 1,471 cheap homes for sale in Los Angeles, CA
• A flood of foreign capital, jobs, tourism and newcomers
• Transforming an historic town, 1 euro at a time
• Looking ahead: 'The respect of the old town is the most important thing'
• Related Searches in Glendale, CA

"I'm very grateful that I do not know anybody doing that, because I do not want this to be a village of Airbnbs," she says. Tabbone, who runs her own business as a financial advisor, says the slower pace of life abroad makes her want to "have the focus of my life be about just personal fulfillment in general," rather than work. At the time, Tabbone was looking into getting dual citizenship in Italy, where part of her family was from before they immigrated to the U.S. There, Meredith Tabbone, 44, of Chicago, bought and renovated a 1-euro house of her own. Daniels went home to pack her tools and returned that summer with her husband, brother-in-law and five suitcases full of renovation supplies. They were now the proud owners of not one or two but three separate 1-euro properties in Mussomeli, she told him.

Cheap Homes for Sale in Greater Los Angeles, CA

That added up to a total of 3,301 euros, or roughly $3,500, for each building. One of the most well-known towns with a 1-euro scheme is Mussomeli, a roughly 2-hour drive south of Sicily's capital city of Palermo. In Mussomeli, more than 100 homes have been sold for 1 euro, as well as roughly 200 so-called premium houses, which start around 5,000 euros and require fewer repairs. In the late 2010s, towns around Italy started going viral for selling off crumbling properties for 1 euro, or roughly $1.05.

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Tabbone says she will never sell her Sambuca home despite getting many offers. "I have a cousin, [and] I've already told her she can use the house if I pass away before her. After that, it's going to be donated to the village." Tabbone is glad to have the chance to connect with her family history and considers the Sambuca project a "huge success" for bringing attention to the village. Daniels feels strongly that historic renovation programs are beneficial in part because they're sustainable. Around the world, "we have destroyed so much of the environment building things instead of using what exists," she says. Even when young people return to Mussomeli, they can find the small town limiting.

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By the time he returned, his 15,000-euro quote for renovations doubled. All in, she spent about 425,000 euros on renovations, or roughly $446,000. Gambino said the Glassell Park area where the home is located is popular among artists, musicians and actors. A nice meal out might be 10 euros or less, while a round-trip flight within Europe or to Africa might run you just 45 euros, Tabbone says. Meanwhile, there are over 100 premium houses currently on the market, Milazzo says.

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Many of them are being sold by families who've moved away or inherited multiple properties and see an influx of interested foreigners as an opportunity to make a profit. "My dream is that one day we will be able to provide jobs, especially for young people in the town," he says. Tabbone flew to see her new home for the first time in June 2019. She then bought the building next door through a private sale with the owner for 22,000 euros, or just over $23,000.

"This is definitely the exact kind of house where you would dream," Gambino said in an interview with USA TODAY. "It's a very special house where people immediately get, you know, emotionally connected when they're there." The home at 2538 Sundown Drive is for sale at $2.3 million, listed by Compass agents Carl Gambino and Ariel Putman, and was recently shared on real estate fan account Zillow Gone Wild.

Transforming an historic town, 1 euro at a time

On one of the final days of the auction, Tabbone placed her bid of 5,555 euros for a property, sight unseen. So far, she's focused on fixing up her vacation home and initially estimated renovations to cost $20,000. Those renovation plans include a new kitchen, marble finishes, restored stone walls and a fireplace in the bathroom. Years later, she's spent $35,000 and hopes to stay under $40,000. It's a lot of work, but the process still feels as exciting as it did on day one, she says.

His charity, The Good Kitchen, now operates from the space next door, where rent and utilities run 400 euros a month. Each town handles its own 1-euro program, so we don't know exactly how many homes have been sold across Italy since the concept took off. But experts estimate the campaigns have brought in thousands of visitors who've bought cheap houses across the country. Houses that aren't being sold for 1 euro range between 5,000 to 25,000 euros, or $5,250 to $26,250. StreetTo volunteers say they list houses at a sustainable pace to avoid gentrification and out-of-control housing prices.

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Information provided by Seller/Other sources, not verified by Broker. All interested persons should independently verify accuracy of information. Provided properties may or may not be listed by the office/agent presenting the information. The two-bed, two-bath home sits on a quarter-acre lot, and Putman boasted the gardens and terraces as a draw for potential buyers. Plus, it has a great view of the city, she said, making it the ultimate LA outdoor space.

She first learned about the program from her husband, who'd read about it online. Daniels, an avid traveler who works in construction, was hooked. She booked her hotel and flight out to Sicily to see if the opportunity was too good to be true.

Daniels is such a fan of the 1-euro initiative that she's encouraged friends and family to take the leap. On one recent visit to Mussomeli, Daniels brought along two fellow Californians, Alfredo Ramirez and his mother, Elena, to tour the houses. Daniels is building the house of her dreams, "which I wouldn't be able to do back in California because the cost would be much higher," she says. Daniels plans to visit her Mussomeli home for vacations and split her time between California and Sicily in retirement.