The City of South Pasadena recently acquired five properties from the California Department of Transportation (Caltrans) and has listed them as available for sale. The properties consist of five historic single family homes that were previously slated to be demolished to make way for the extension of the 710 freeway. With the 710 freeway expansion project now shelved, South Pasadena recently reacquired the homes and is making them available for public purchase.
History of the Caltrans Properties
Caltrans owns approximately 100 properties along the 710 freeway corridor in Pasadena, South Pasadena, and El Sereno. The properties were acquired as part of a plan to complete a gap in the freeway between Alhambra and Pasadena, through South Pasadena. Legal battles, however, forced construction to stop. Those plans were ultimately terminated in 2017 and the project was defunded, leaving Caltrans in possession of numerous vacant residential properties.
Recently, Caltrans has begun the process of offloading those properties. According to the Caltrans website that lays out the process for selling the properties, the properties must first be made available for sale to former owners who are current tenants of the properties. Next, current tenants with low, moderate, and above-moderate income, and in good standing for 5+ years are offered the opportunity to buy. Subsequently, unoccupied properties and unoccupied historic homes are offered to the cities of Pasadena and South Pasadena.
South Pasadena Acquires And Lists The Caltrans Properties As Available For Sale
In February of 2024, the City of South Pasadena elected to move forward with the acquisition of five of the Caltrans properties. Caltrans approved the sale to the City of South Pasadena on August 16, 2024.
The City of South Pasadena has now listed the five Caltrans properties as available for sale. Property information is as follows:
1707 Meridian Avenue, South Pasadena, CA 91030
2 bedroom, 1 bathroom, 1,125 square foot single family home on a 7,413 square foot lot. Listed at $949,000. Full listing and additional details available here.
216 Fairview Avenue, South Pasadena, CA 91030
3 bedroom, 1 bathroom, 1,437 square foot single family home on a 6,281 square foot lot. Listed at a price of $1,076,000. Full listing and additional details available here.
217 Fremont Avenue, South Pasadena, CA 91030
3 bedroom, 2.5 bathroom, 2,029 square foot single family home on a 13,210 square foot lot. Listed at $1,199,000. Full listing and additional details available here.
225 Fremont Avenue, South Pasadena, CA 91030
4 bedroom, 2 bathroom, 1,989 square foot single family home on a 9,831 square foot lot. Listed at $1,199,000. Full listing and additional details available here.
726 Meridian Avenue, South Pasadena, CA 91030
Multi-unit triplex. Two units with 1 bedroom and 1 bathroom. Third unit with 2 bedrooms and 1 bathroom. 6,265 square foot lot. Listed at $1,249,000. Full listing and additional details available here.
Offer Guidelines For Purchase Of The Caltrans Properties
The City of South Pasadena retained David Knight with Keller Williams Realty to list the properties as available for sale. The listing website containing additional information and photographs is available here.
Due to the condition of the properties and their historic designation, South Pasadena is only considering offers that are either all-cash or financed by a hard money loan. Offers must be “non-contingent”, meaning buyers may not include contingencies for inspections, loans, appraisals, etc. The properties are being sold “as-is” with no representations concerning their condition, size, zoning, etc. Inspection reports and disclosures are available upon request.
Stated simply, the properties are being marketed primarily for sale to investors and/or all-cash buyers who are willing to take a risk in connection with the condition and cost of rehabbing the properties, while simultaneously complying with historic preservation requirements.
If you or anyone you know are interested in learning more about the South Pasadena Caltrans properties, or to discuss how Esquire Real Estate Brokerage can help you in the Southern California real estate market, feel free to call us at 213-973-9439 or email us at info@esquirereb.com.
