100 Los Altos Dr, Pasadena, CA 91105

Property Description

The property is under contract at $7,500,000.00 An auction will take place before the United States Bankruptcy Court for the Central District of California, before the Honorable Barry Russell on October 18, 2022 at 10 a.m. Any person interested in submitting an overbid on the Property must attend the hearing or be represented by an individual with authority to participate in the overbid process. The initial overbid amount will be $7,525,000 with each additional bid in $5,000.00 increments. Overbidders must deliver a deposit to the Trustee's counsel by way of a cashier's check made payable to 'Jason M. Rund, Chapter 7 Trustee,' in the amount of $375,000.00 (the 'Deposit') and proof of ability to close escrow unconditionally in a form acceptable to the Trustee at least 7 calendar days prior to the hearing. Overbidders must purchase the Property on the same terms and conditions as the Purchasers. The Deposit of the successful overbidder shall be forfeited if such party is thereafter unable to complete the purchase of the Property within 15 calendar days of entry of an order confirming the sale. In the event the successful overbidder cannot timely complete the purchase of the Property, the Trustee shall be authorized to proceed with the sale to the next highest overbidder. Hearing to be held at the Edward R Roybal Federal building: 255 E Temple St, Los Angeles, CA 90012. Courtroom: 1668 100 Los Altos was built in 1928 by one of Pasadena's most revered historic architects, Myron Hubbard Hunt. Sited on nearly two acres and in a prominent position overlooking the iconic Colorado Street Bridge, the estate is located at the gateway to Pasadena between the Arroyo Seco and Annandale Golf Club. Entering off the private drive, past the iron gates and into the motor court, the grandeur of the architecture is immediately evident in the impressive facade. A solid bronze front door welcomes guests into a dramatic walnut paneled gallery and conveys the old world opulence found throughout.