Broker Associate: boarded-up Citrus Heights home now in escrow – Citrus Heights Sentinel – Finance-Base
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Broker Associate: boarded-up Citrus Heights home now in escrow – Citrus Heights Sentinel

The currently boarded-up home at the corner of Old Auburn Road and Mariposa Avenue has become in escrow, according to the broker associate who listed the home. // CH Sentinel

Sentinel staff report–

The dilapidated and boarded-up home in the corner of Old Auburn Road and Mariposa Avenue is now in escrow, after being indexed by February at an asking price of $400,000.

Ken Dick, a broker associate with Keller Williams who is representing the Sacramento County Conservator's Office in selling the house through the probate process, confirmed the news on Tuesday, but said he couldn’t disclose the purchase price or the buyer’s name until escrow closes, likely at the end of April.

\”At this point I'm not going to go forward with the ,\” Dick told The Sentinel, although he confirmed the buyer is a private party as opposed to a governmental agency. He also hinted “there might be some good news that could be tied to it,\” apparently talking about plans the new buyer may have for the property, but he declined to provide any more information.

In January, the City of Citrus Heights had shown curiosity about potentially purchasing the property for a bargain price through a tax-defaulted sale process, but backed off when it was discovered that heirs for the property’s former resident, James Wheeler, have been located.

Wheeler passed away inside the home last year, leading to the property being boarded up after which entering probate — a court-supervised process of administering a deceased person's estate.

A property listing for the property describes it as a “very unique” parcel at 7716 Old Auburn Rd., with 2.74-acres of land and potential for residential development, or possible zoning switch to allow a church, school or any other business. The listing says the house was constructed in 1940, with a 1,368-square-feet floor plan that includes three bedrooms and one bathroom.

However, the home will likely need to be demolished due to its poor condition.

\”I think that we have active mold in the home, and for health reasons no one is allowed in the property,\” Dick previously told The Sentinel, noting water damage from leaks in the roof. \”Basically what we're saying is that the condition of house is questionable which the real value is in the land.\”

The broker associate said as part of probate, two bids had been listed in purchase the property, and “the winner is the one that went to court for that confirmation and nobody showed up to overbid at court.\”

Although not disclosing the winning bid price, Dick said “for any bid to have been valid it would have had to have been within 10% of the list price,” meaning a minimum cost of $360,000.

To learn more about the history from the property and the probate sale process, see story: Q&A: what's happening now with the boarded-up home on Old Auburn?

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