750-square-foot home priced at $1.2M sparks frenzy, sells in record time

In a market where real estate prices seem to defy logic, a 731-square-foot property with a staggering $1.2 million price tag is a hot commodity in Denver.

While the price tag might raise eyebrows, insiders said the heightened demand in the Mile High City is all about “location, location, location.”

This modest three-bedroom, one-bathroom dwelling built in 1941 is nestled within a newer neighborhood enclave, surrounded by sprawling residences that dwarf its petite stature.

The home boasts “ample opportunities for investment and redevelopment,” according to the listing, which hints at a potential pivot towards a more lucrative transformation or preservation of its mid-century origins.

The driving force behind this eye-popping valuation? Its coveted University/Observatory Park location at 2615 S Saint Paul St. is adjacent to the revered McWilliams Park, the seller told Realtor.com.

Commanding a staggering $1,642 per square foot, the sellers are banking on the allure of its prime locale to justify the price tag.

(The tiny home sits between two much larger estates in a developed neighborhood.Morton Properties of Denver)

Despite its diminutive dimensions and hefty price, this petite property has purportedly sold within a mere 10 days of hitting the market to an eager buyer.

Records reveal that the current owners acquired this gem back in 1996, paving the way for a jaw-dropping profit windfall in the current frenzied market.

Holding the keys to this hot commodity is Holly Morton Chione from Morton Properties Denver.

Ref: 750-square-foot home priced at $1.2M sparks frenzy, sells in record time (nypost)