First, for the potential homeowner:
906 Parkman Street in Altadena, on the corner of Lake and Parkman, is an unbelieveable deal at $599,000. Offically 3 bedrooms, 2 baths, 1819 square feet and a lot of 10,286 square feet, it also has a huge bonus space downstairs (in addition to the 1819 sq. ft. ) consisting of two more rooms (could be bedrooms or home offices), laundry and 1/4 bath. Of course at this price it needs work, but with some fixing up this home would be worth a lot more than what the buyer would put into it. I don’t want to go into the seller’s personal situation online (and I am not the listing agent), but it is a distress sale and needs to be in escrow asap. Please call me if you have any interest at all.
906 Parkman Street, Altadena
And for the investor:
398 N. Holliston Ave. in Pasadena has two small rental homes on a 12,637 sq. ft. lot (!). It is a short sale (see post below for more info on short sales – basically the owner owes the bank more than the property is worth) which, for the investor means — deal! No showings, it is tenant occupied, so drive by only. Again, jump on it before the bank forecloses.
398 N. Holliston Ave., Pasadena
Based on the listing and sales comps, the first home should sell rather quickly at $599k.
Assuming the Redfin data is correct, the property was last purchased in 1987. I can’t imagine what kind of unfortunate situation is forcing this to be a distressed sale (although a simple HELOC could ruin any housing situation rather quickly).