Certainly Not Your Average REO - 10772 Chalon Rd, Los Angeles, CA 90077

Certainly Not Your Average REO - 10772 Chalon Rd, Los Angeles, CA 90077

Chalon Road in Bel Air / Holmby Hills (Los Angeles) is one of the most expensive streets in Los Angeles with homes selling for up to $28 Million. Current listings range between $6,495,000 - $28,900,000.

It's therefore surprising to find this REO listing at 10772 Chalon Road for $6,495,000.

The MLS listing describes thie property as an elegantly restored 1930's Hollywood Regency design with architectural details: "Dramatic formal entry, massive living room, 4 bedrooms + staff, 8 baths, pool, gym, game room and professional 35MM screening room. Set on almost an acre of beautifully landscaped grounds, terraces overlooking verdant vistas. Fabulous for entertaining and serene living. Completely private. Originally developed by Alfonso Bel. Once home to major film producer."

Public records show the most recent owner (prior to the bank) paid $13,500,000 back in January 2008. At that time there was a loan secured against the property for $8,125,000.

In 2009 a further $4,750,000 was loaned against the property by a private lender.

Four months (5/27/2009) later a Notice of Default was recorded against the Title by the senior lender.

Another four months later (9/17/2009) a Notice of Trustee's Sale was recorded with a minimum bid of $8,465,102.

On 11/12/2009 the first lender foreclosed and took back the property.

Interestingly enough, the property changed hands in 2003 for $3,950,000.

Pics courtesy of the CLAW MLS.