With about 30 major riverfront estates available for sale in the combined neighborhoods of Avondale and Ortega, it’s with relief that two of them have gone under contract.
The first one, the Mason estate in Avondale, is a property with historical significance. Built in 1928 in the Tudor style of architecture for a prominent local banker, the house sits on an incredible 2.2 acres and has approximately 200 linear feet of riverfront footage. Originally listed for $6,500,000 in June of 2008, the sellers have taken numerous price reductions and changed real estate brokers. The final list price was $2,900,000 (over a $3 million dollar reduction) and we won’t know what the final sales price is until the home sells.
The second home, located at 3737 Ortega Blvd. is situated on one of the most prime spots in Ortega on “the point”. High on a bluff with amazing downtown views, over 6,400 square feet of living space and a guest house, this home was originally listed at $4,700,000 in May 2011. At the time it went under contract, the asking price had been reduced to $2,870,000 which placed the home into short sale status.
As soon as these two homes sell, we’ll be sure to write about the final sales prices. They will be very good comps and provide much needed data for the remaining riverfront homes on the market.