Thirteen homes in Pasadena seized during the now-abandoned 710 North Project are on the market.
The city of Pasadena bought 17 homes from Caltrans and is reserving four for affordable home ownership. The remaining are in historic districts, and two have historic designations. Many are along the busy Pasadena and Saint John Avenues.
Bill Podley with Compass Real Estate told KNX News’ Karen Adams the homes range in price from $800K to $1.750M.
“Virtually all of these have not been lived in for many, many years, and some are in quite poor condition, others are in fair condition,” he said. “There is one that's in quite nice condition, that's the one that is most expensive. But the challenge in selling them is that we need to identify buyers who can pay cash or obtain hard money loans because we cannot get conventional financing on these properties, given their condition.”
Podley added that there won't be any open houses because of safety concerns.
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“It was decided that people would have to sign a release of liability, saying that they're going out of the property at their own risk,” he said. “Some of the properties have holes in the floors and things of that nature.”
City officials say proceeds from the sale of the homes will go toward affordable housing.
For more information on the homes, click here.
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