What does $1M get you in the Bay Area? It's official: A burned down home.

Last week we reported on an East Bay real estate listing that caught a lot of readers’ eyes and reflected the Bay Area’s ultra-competitive real estate market.

The Walnut Creek home had been ravaged by a two-alarm fire in 2020, but that didn’t stop multiple offers flooding in for the burnt shell of a home. The property at 254 Tamarisk Drive was listed at $875,000 by real estate agent Melinda Byrne and was in escrow in less than a week.

We can now reveal that the house sold for exactly $1,000,000.

Some readers speculated that the seemingly high price was due to the 0.32 acres of land in the East Bay’s pricey 94598 ZIP code — that includes Walnut Creek and Mount Diablo — where the median house price is $1,375,000.

254 Tamarisk Drive, Walnut Creek, Calif.

Key Realty

But Byrne told SFGATE on Thursday that she assumes the buyers will renovate what’s left of the home, as extra permits for a tear-down may be expensive.

The home at 254 Tamarisk Drive was almost destroyed by the fire on Sept. 11 last year. The roof collapsed and the garage was reportedly fully engulfed in flames. Firefighters determined that the blaze appeared to have started in the garage, though a cause wasn’t revealed.

“Bare bones opportunity to renovate/rebuild/restore. Extensive damage from a fire has this house stripped to the studs on both floors. This one is ready to start fresh and build to suit your style preferences,” the listing blurb read.

“Opportunities like this are rare to make dramatic changes to a home and floor plan … this is more than a fixer and the potential is limited only by imagination.”

It’s now official, in the Bay Area, $1 million gets you the burned down remains of a four-bedroom house.