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A house at 25 Riordan Place that was formerly part of Menlo Park’s below-market-rate inventory went up for sale on Sept. 7 at market rate.
The city had to buy the property back from two owners who had illegally taken out more than $1 million in loans against the property and then defaulted on payments. Reclaiming the house cost Menlo Park an estimated $527,500 after a four-year legal battle.
The City Council then voted in June to spend up to $40,000 to get the property in shape and sell the three-bedroom, two-and-a-half bathroom house, with an expected return of $650,000. A broker will provide a tour to interested buyers today (Sept. 10).
By Sandy Brundage
By Sandy Brundage
By Sandy Brundage