DENVER — A house in Five Points is up for sale and it’s listed as what the realtor calls “an investor special.” The asking price is $500,000, but it’s contaminated with meth.
People in the area say the price is a testament to the competitive Denver housing market.
“You can put a meth lab up for sale and sell it for half a million dollars,” said John, who lives in Five Points.
The home was originally listed at $789,000 and was lowered to $500,000. It has known meth contamination, but several people placed offers on it nonetheless.
“I’m not surprised,” John said.
The house was posted online with a note that reads:
“INVESTOR SPECIAL. HOME HAS BEEN DESIGNATED AS CONTAMINATED WITH METHAMPHETAMINE> CASH ONLY DEAL. DO NOT ENTER THE PROpERTY WITHOUT THE PROPER HAZMAT PROTECTION.”
“Meth is terrible because you can’t see it, you can’t smell it, you can’t taste it,” realtor Tonie Krosky said.
Experts say it could cost tens if not hundreds of thousands of dollars to fix the house. It needs to be gutted, cleaned and completely redone.
“Once that’s mitigated, it should be OK,” Krosky said.
Turns out, one doesn’t have to tell the next owners anything once the property is properly cleaned and cleared. Krosky says at that point, the meth label comes down.
The Problem Solvers talked to the realtor listing the house. He says he got dozens of calls, even with the notes about meth on the listing. He got multiple offers and now — after three days on the market — the house is under contract.