Foreclosure Resales Highest in Glendale 91206

Property Shark’s July 2008 data on foreclosure resales in L.A. County show zip code 91206 with the highest number of sales – nine – in the Glendale/Pasadena area.

My Redfin search, zooming in south of the 134 Freeway, turned up 12 single-family home sales and 23 condominium sales.

Only a few blocks in this area have not yet been swallowed by condominium projects, and the building continues seemingly unabated. For those willing to tolerate high density surroundings (and nearby construction) to gain a central location, this is a great neighborhood.

There are still some vintage single-family homes here, and they sit together on flat lots walking distance from mall shopping and restaurants to the west (the Galleria, Americana, and Brand Blvd.), and staples and services to the east (grocery stores, Virgil’s Hardware, car repair shops, even Staples itself). In addition, LA Metro and Beeline buses run along both Brand Blvd. and Glendale Avenue.

While this is a great walking neighborhood, I’ve seen many reckless pedestrians like those spotted on its streets by Tropico Station. Glendale also has its share of reckless drivers, so pedestrians should be doubly alert instead of barely aware.

Foreclosure resales in central 91206 were exclusively condominiums. Here are two:

301 N. Belmont Street, #103
$366,000 (7/22/08)
Sold for $527,000 (3/9/07), and taken back by the lender for $400,500 (1/23/08).

401 N. Kenwood Street, #108 
$355,000 (7/28/08)
Sold for $475,000 (12/14/05), and taken back by the lender for $375,601 (12/11/07).

My Redfin listing search showed an average asking price of $433 per sq.ft., with 2 single-family homes and 22 condominiums on the market. The second home is actually advertised as a teardown for investment purposes:

417 N. Isabel Street
$480,0002 bed/1 bath
1,164 sq.ft.
$412 per sq.ft.
On Redfin 5 days

1128 Stanley Avenue
$559,000
2 bed/1 bath
836 sq.ft.
$669 per sq.ft.
On Redfin 23 days
The listing states that the property comes with permits and designs to build four 2 bed/2 bath apartments on the lot.

Photo courtesy of Legendary Classic.