Who needs a million-dollar job?

A mansion in Delray, Fla., referred to by its listing agent as a "great opportunity for remodeling," was sold today to the head of a Virginia-based private equity firm. The fixer-upper's price tag: $12 million.

The 7,000-square-foot oceanfront home's listing agent also called it "one of the last unredeveloped properties in the estate section of Delray Beach’s coveted oceanfront." Built in 1948, the mansion belonged to the late Mary Ella Alfring, who died April 12 at the age of 99.

Read the rest of the story at the Palm Beach Post.