The auction of the historic enclave of Pasadena bungalows, Vista del Arroyo, we mentioned last week seems to have been a success, albeit not a resounding one. According to the Pasadena Star News, all nine homes were sold via auction on Sunday, but several didn't go much higher than the minimum bid price:
The top price was for the two-story Myron Hunt house at 11 S. Grand Ave., which went for $1,360,000. The two-bedroom, two-bath house - complete with library and butler's pantry - was listed with a minimum bid of $1,260,000 and had an asking price of $1,950,000. Some houses on the three-acre development sold at the minimum bids, Sands said, and others went for up to 20 percent over. Prices started at $790,000.
So it looks like there were indeed some bargains to be had. Next up for developers Concert Realty Partners, and the Lefevre Corp., who had bought Vista del Arroyo in early 2006, is plans to put Bridgeview Terrace on the market. From what we can gather, Bridgeview is an adjacent development done by the same architects who handled the restoration of the Vista del Arroyo, Moule & Polyzoides. No decision yet on whether these, too, will be auctioned off electronically.
· Nine historic bungalows sold [Pasadena Star News]