Priscilla Presley’s Los Angeles-area home is in contract to sell for $3.65 million. It didn’t take long for someone to see the potential in the home; it was only on the market for a couple of weeks before an offer was successfully submitted.

Presley paid $170,000 for the home back in 1976, and her parents resided in the home for a number of years. The four-bedroom, three-bathroom Brentwood residence was built in 1949, and it was sold as-is. It cuts a charming streetside figure, but could use a general update. The kitchen is particularly dated, and the terra-cotta tile floors and the 1980’s design sense make for an uneasy partnership.

The bones of the 2,499-square-foot house are good, and the property has plenty of potential; the right buyer with the right eye came along, and fast. The spacious lot is impressive, and features a large backyard and a swimming pool. The buyer might decide to go the teardown route, though.

The home’s location and lot size may have spurred the rapid sale. Some luxury residences in the Kenter Canyon area are listed for north of $20 million, making this property a great investment purchase.