Last Sunday, it was standing-room-only at the real estate auction of 16320 Akron St., where a three-bedroom, two-bath house on a coveted double lot (13,250 sq. ft.) was up for grabs. Over 100 people showed up, many of them arriving early to inspect the approximately 1,672 sq. ft. Marquez home, which was built in 1953, and features high ceilings, skylights, and new beige carpet throughout. Some said they planned to renovate the house. Others said they planned to tear it down, to take better advantage of the large, private back yard which terraces down to a stream. By 11 a.m., the seating in the living room and an extra seating area which had been set up under a canopy in the back garden to protect against the rain were full. There were 20 registered bidders, who each plunked down a $50,000 cashier’s check to obtain a bidding number. The opening bid: $1,300,000, which quickly jumped to $1,375,000, then $1,380,000, $1,385,000, $1,425,000, then the highest bid: $1,480,000. By 11:18 a.m. the auction was over. ‘The owner is delighted,’ said auctioneer Mario Piatelli. ‘Not only did she get more than the $1,250,000 million that had been suggested as a suitable listing price for the property by local realtors, but the auction guarantees a quick sale.’ Also delighted is the buyer, Sina Khodadai, 30. Raised in Rustic Canyon, he had been looking for a house for months. His real estate agent, who found out about the Akron auction through the Multiple Listing Service, brought it to his attention last week. On Friday, when Khodadai and his wife Tanaz, 26, saw the property for the first time, he said he was immediately sold after seeing with the trees and foliage in the large back yard. ‘It reminded me of growing up in the canyon,’ said Khodadai, who graduated from Palisades High in 1993. He is not yet sure if he will remodel the house or build a new one. Escrow is scheduled to close within 30 days, or sooner if Khodadai, who helps manage his family’s retail businesses (gas stations and car washes), can get the financing together. Piatelli, as the listing broker, will be paid 2.5 percent commission, as will Shahin Manavi (Coldwell Banker/Beverly Hills), who represented Khodadai. ”Piatelli, whose auction company has over 50 years’ experience selling property, including industrial and commercial, said a successful real estate auction ‘provides a maximum return for the seller and clear title for the buyer.’ He said he was ‘not surprised’ at the large turnout on Sunday, given that we had received ‘over 300 phone calls about the property,’ the auction having been advertised in the Palisadian-Post, the Los Angeles Times, and on his Web site (www.Piatelli.com). However, the property was listed on the MLS only two weeks ago, and only after the MLS relented, allowing Piatelli to list the price as ‘$0.’ ‘Yes, it is unusual to list an auction,’ he said. ‘But brokers and their clients have every right to know about this opportunity. Real estate auctions are a perfectly good way to sell homes.’ Several people left the Akron auction disappointed. A Marquez Knolls resident, who preferred not to identify himself, thought the property would go ‘for around $1 million. The house is not even livable.’ On the other hand, J.C. Champaneri, who owns the Brentwood Inn on Sunset which is currently undergoing renovations, though it would be an ideal starter house for him and his wife. Iraj Safapour, who came from San Francisco for the auction, had hoped to buy the house for his daughter, 32, an attorney, who lives in L.A. ‘It would have been perfect for her,’ he said. ‘There should be more auctions like this.’
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