Saturday, February 02, 2008

Pot House Revisited

By chance yesterday, I was able to take a few photos of a former pot house. 6801 Castro Verde Way has been vacant since it was raided in September 2006. It is currently listed as needing "special care" for "only" $365,900.

As you can see, the place is absolutely trashed. From the dates on the city inspection notices, at least some of the damage was made by the pot-growers. However, from the listing photos, it looks like the HVAC unit was stolen sometime later. (It's still listed as having central heat and air.) What is amazing to me is the price. A quick search of MetroList gives 25 untrashed, non-pot houses in 95757 between $325,000 and $350,000 with 4+ bedrooms and 3+ bathrooms.

Elk Grove, CA 95757
Asking Price: $365,900
Bedrooms:4    Baths: 2    Sq. feet:3134
Last Listing Date: 2008-02-02

Listing History:
Down 3.7% from $379,900 On 2007-12-08

True days on market: 56
# of Times Listed: 1

Previous Sales:
Sold on 2004-10-01 for $380,500
Sold on 2006-05-01 for $539,000
Sold on 2007-07-03 for $410,638

MLS# 70123559      Google Maps
Assessed Value       Property Tax Bill


Anonymous said...

The following home just went pending. Anyone know the amount?

1225 42nd street
Sacramento, 95819


Anonymous said...

That is a ridiculous asking price for all the work that will need to be put in, if you ask me anyways.

Anonymous said...

Max, I saved all the addresses for those pot houses and keep hoping to find the time to research the deals and ownership, comparing them to other jurisdictions.

I bet I could find another 100 in other counties with the same ownership characteristics. I don't think the authorities ever think of doing this kind of investigation, since they only keep to their own spheres of influence. Hopefully, I will get on in soon and report back to you.

Gwynster said...

I started looking at West Sacramento and the prices there have really dropped. It's not uncommon to find a few 2000+ sqft recently built homes at 299k. They are not trashed at all and for commuting state workers, I'd so rather drive in from West Sac then EG.

patient renter said...

Wow. Absolutely trashed.