More than a dozen houses that were slated to be demolished as part of a failed effort to extend the 710 Freeway are now being sold by the city of Pasadena.
The historic properties have been sitting vacant for decades and were put on the market as-is, with prices ranging from $750,000 to $1.75 million.
According to the listings, a few of the homes are uninhabitable, with health and safety concerns for potential buyers. The utilities have been shut off “for an extended period of time” and will not be turned back on before escrow closes, including for inspections, according to the city.
But that hasn’t dissuaded interested homebuyers. Brokers representing the listings said they’ve received multiple offers for most of the homes put up for sale earlier this month.
The 13th home went on the market this week. Pasadena Housing Director Jim Wong said proceeds from all sales will go toward “much-needed” affordable housing in the city.
“These are critically needed dollars to address the shortage of affordable housing in our community,” Wong told LAist.
How we got here
The properties were set to be demolished decades ago to extend the 710 Freeway through Pasadena, South Pasadena and El Sereno.
Pasadena selling more than a dozen former Caltrans homes along failed 710 Freeway corridor
The project eventually was canceled after it faced legal challenges and widespread opposition. Caltrans ended up purchasing hundreds of homes to make way for an extension that never got built.
Several of the homes have been put up for sale over the past year, including El Sereno properties earmarked for affordable housing.
When South Pasadena put five of them on the market last fall, the properties attracted thousands of potential buyers. Most sold for thousands above asking — even with boarded-up windows, damaged floors and peeling paint — with the costliest going for nearly a half-million dollars above asking.
About the homes
Bill Podley, a Compass broker associate representing five of the properties, told LAist that most of the homes are in pretty poor condition after sitting empty for so many years. Some have peeling walls and holes in the floors, for example.
“These properties are not for the faint of heart,” he said, adding that most of the homes are 100 years old at least. “Because you're really buying something you're not too totally certain as to its condition.”
The interior of 1112 S. Pasadena Ave., a six-bed, three-bath home.
The interior of 215 Madeline Drive, a two-story 1920 Colonial Revival home.
Unlike the South Pasadena properties, you won’t get to scope out the Pasadena homes in person. There are no public open houses or broker tours allowed — virtual viewings only.
The Pasadena properties include:
Serious buyers can schedule a showing if they have documents proving they can cover the full price of the property, according to the city. Purchases are required to be all cash or private hard-money financing. Signed liability waivers also are required for each person visiting the property, similar to the South Pasadena showings.
Michael Bell, a Sotheby's International Realty broker who represents four of the listings, told LAist the properties haven’t been altered much at all, which might not be enticing to a typical investor.
“But we're not trying to sell to normal investors — we're trying to sell to people that really love historic homes,” Bell said. “There are people that really love these homes, and it's not a financial transaction they're looking at. It's really an emotional transaction. It's being part of the community.”
You can learn more about the properties and purchase process here.
What's next?
Pasadena also purchased four smaller, non-historic homes from Caltrans that are not on the market. Those properties may be renovated for affordable homeownership housing, according to Wong.
Pasadena is required to fund three affordable units with the sales proceeds from every property it purchased from Caltrans. Wong said the 13 homes on the market, in addition to the four smaller ones set aside, will generate at least 51 units.
Pasadena must start using the sales proceeds toward affordable housing by the end of next year, according to the city.
The Pasadena City Council and staff will review offers on the 13 properties before the successful bidders are notified. Offers will be added to the agenda for council consideration at a later date, Wong said.
