Here’s the story, of a house named Brady. HGTV has put the famous “Brady Bunch” house in Los Angeles, with its instantly recognizable street view, on the market.

The saga of this house has a new storyline, and it’s a real cliffhanger: Will HGTV be able to recoup its investment in the famous home, which was used only for exterior shots on the iconic ’70s TV show?

The home has since been rebuilt, inside and out, as a replica of the set piece from the show. The $5.5 million list price is on the high end of the suburb of Studio City. The area has a median list price of $1.9 million.

But this is a very special home—especially since HGTV got its hands on it in 2018.

A very Brady abode

Locals have long known about the iconic home, and longtime fans visit frequently to take photos of the exterior. The exterior has essentially stayed much the same way it had appeared in “The Brady Bunch,” which aired from 1969 to 1974, then entered into perpetual syndication.

Some say it’s the most photographed private residence in America, right after the White House.

The owners thought that the notoriety would add some value, so they listed their famous split-level in 2018 for an ambitious $1,885,000. It was built in 1959.

What they didn’t expect was HGTV entering a bidding war with former ‘N Sync member Lance Bass and several others. The network prevailed, paying $3.5 million for the home. It had big plans to put the house back on TV.

‘A Very Brady Renovation’

The network taped a limited series, called “A Very Brady Renovation,” in which show hosts Drew and Jonathan Scott worked alongside other HGTV stars to re-create every detail of the iconic home. Joining them were the now-grown cast members who played the six Brady kids.

The renovation series drew in more than 28 million viewers.

The interior scenes of the TV series were actually shot on nearby sound stages, so it was quite a challenge to find period furnishings and finishes and to redesign the home so it looked exactly like the one on TV.

HGTV poured $1.9 million into the massive renovation, which added 2,000 square feet to the property’s original footprint. That included a full second story.

Including the renovation costs, HGTV’s investment in the five-bedroom, five-bath, 5,140-square-foot property totals $5.4 million, which is just about the current asking price.

What it looks like now

So what will the next owners get? Among the standout features added are the floating staircase, the burnt-orange-and-avocado-green kitchen, the kids’ Jack-and-Jill bathroom, and the backyard with a swing set, teeter-totter, and Tiger’s doghouse.

Customized pieces include the green floral couch and the credenza with a horse sculpture in the living room.

Fun fact: The show producers reached out to collectors to find the horse sculpture used on the set, and when one couldn’t be located, they ended up printing one in 3D.

Would you live there?

So, would anyone actually want to live in a home filled with shag carpeting, wood paneling, and pastel-colored walls in all the bedrooms and bathrooms?

How comfortable would you be in a $5.5 million home outfitted with appliances that were brand-new in the 1970s but not exactly state-of-the-art now, and a backyard that features a swing set rather than a pool?

And then, there are the caveats for potential buyers: “Fireplaces and some appliances/fixtures are decorative only. The home is being sold as is.”

The home is located in a lovely, mostly quiet neighborhood within walking distance of great shops and restaurants, and backs up on the L.A. River.

So, is this a house that’s made more for TV than real life?

Is it ready for a real-life bunch?

Though true to its TV counterpart, this home’s retro kitchen and bathrooms are no longer in vogue.

While the midcentury modern style is still popular, you don’t see a lot of people bringing back that 1970s style. After a while, those period rooms might become an eyesore.

There’s also the tourist problem.

Coldwell Banker luxury property specialist Gail Steinberg, who lives about a block from the famous home, has had intrepid fans stopping her on the sidewalk to ask, “Do you know where the ‘Brady Bunch’ house is?”

Interest in the house has gone up significantly since the HGTV show, and it draws a steady stream of people cruising by to snap pictures.

Still, Steinberg believes the $5.5 million asking price is not unrealistic.

“Look how far above the asking price it went for last time it sold,” she says.

Could the home become a short-term rental?

If the zoning permits short-term rentals, the new homeowners could fetch a pretty penny from folks who want to bask in the home’s nostalgic glory. But the remodeled interiors seem too valuable to risk exposing to careless renters.

It might have value as a location for photo, TV, and movie shoots. But Los Angeles puts limitations on that as well—for the wellbeing of the neighbors. So it’s also not a dependable source of income.

Also, consider security

“There’s security parked out in front 24/7,” Steinberg notes. Apparently, that’s been necessary ever since HGTV very publicly took over the property, as there are no walls or hedges protecting it from zealous fans.

That’s also an expense the new owners will have to shoulder.

So who is the most likely buyer?

Steinberg believes a high-rolling real estate collector—perhaps someone who would stay in the home occasionally for fun—would happily pay $5.5 million, or more.

Often, buyers at that level pay cash and aren’t affected by high-interest rates, she adds.

Also, a wealthy collector would be less likely to be intimidated by the caveats in the listing: “Intellectual property rights are not included in the sale. Buyer is advised to do their own due diligence to investigate the legal rights and usage of the home including zoning, permits, rental laws, etc.”

But, there’s always bragging rights.

“It’s an ego thing,” Steinberg says. “‘I own the ‘Brady Bunch’ house!’”

Win-win

Neighbors would be most likely OK with the “Brady Bunch” house going private. The street would no longer be a tourist magnet, and a home selling for upward of $5.5 million in the area would surely raise their property values.

Other very deserving people would also benefit from the house selling at a premium. HGTV plans to use a portion of the proceeds from the sale to help fight child hunger.

Danny Brown at Compass holds the listing.

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