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NOTICE OF SEALED BID SALE - REDEEMED PROPERTY
 
Under the authority of section 7506 of the Internal Revenue Code, the property described below will be sold at public sale on an open occupancy (nondiscriminatory) basis. The United States redeemed this property under the provisions of section 2410 Title 28, United States Code on May 3, 2019. The property was deeded to the United States on May 2, 2019. The property will be sold at public sale under sealed bid as provided by Internal Revenue Code section 7506 and related regulations as follows:
 
 
Date:6/27/2019
Time:10:00 AM
 
Sale Location: Federal Building, 300 N. Los Angeles Street, Room 5142, Los Angeles, CA 90012
 
Title Offered: Contact PALS listed below
 
Description of Property: Single Family Residence - 2 stories, built 1957, renovated 1989, 0.89-acre, master suite, 2nd floor balcony, custom closets, elevator, pool.
 
Property May Be Inspected at:
See Below
 
Legal Description: APN 4370-019-066; Improved real property located at 1111 Bel Air Place, Los Angeles, CA 90077, more particular described as - Lot 7 of Tract N. 13772, in the City of Los Angeles, State of California, as per Map recorded in Book 285, Pages 33 to 35, inclusive of Maps, in the Office of the County Recorder of said County. Together with that portion of Bel-Air Place as shown on Tract Number 13772 as per Map recorded in Book 285, Pages 33, 34 and 35 of Maps, in the Office of the County Recorder of Los Angeles County vacated by resolution on 05-1400622, recorded October 17, 2005 as instrument No. 05-2493512, Official Records, and that would pass with Legal Conveyance of Lot 7. Said property was redeemed by the United States via Certificate of Redemption dated May 2, 2019 and recorded as document 20190404285 on May 3, 2019 in the Office of the County Recorder of Los Angeles County, California.
 
Minimum Bid: The opening bid for the property will be $8,645,292.68, any other bids will have to exceed this amount to be the successful bidder.
 
Bid Note: All Bids must be accompanied by a deposit equal to, or exceeding, 20% of the bid price.
 
Click here for Sealed Bid Form
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Click here for photos of property
 
The Terms of Payment: Deferred payment as follows: 20% upon acceptance of highest bid and balance of bid price must be received by PALS Hallie Lipscomb by close of business on Friday, July 26, 2019.
 
Form of Payment: Payment of all required deposits and the balance of the purchase price must be made by certified, cashier´s or treasurer´s check drawn on any bank or trust company incorporated under the laws of the United States. Payment may also be made by any United States postal, bank, express or telegraph money order. All checks and money orders should be made payable to the United States Treasury.
 
PROPERTY INSPECTION: You may inspect the property by Appointment Only - On Tuesday, June 25, 2019, or Wednesday, June 26, 2019, at 1111 Bel Air Place, Los Angeles, CA 90077. Please contact Hallie Lipscomb (Ph# 916-717-7392) or Crystal Ferguson (Ph#708-595-1777) to arrange an appointment. Upon arriving for the appointment, the prospective bidder must present a Cashier’s check for a minimum of $1,500,000.00, made payable to the United States Treasury, to show financial ability to bid on this property. Failure to provide this proof will cancel the appointment for viewing the property.

BID SUBMISSION: To submit a bid, complete Form 2593–A, Sealed Bid for Purchase of Property Redeemed by the United States. Bids may be presented in-person on the date and time specified for the sale or submitted via US Mail or delivery service to: Internal Revenue Service, Attn: Jose Abadsantos, 300 N. Los Angeles St., M/S 5021, Los Angeles, CA 90012, with delivery by the time and date specified for the sale. Please place the Form 2593-A and the check in a sealed envelope marked “Sealed Bid – 1111 Bel Air Place - to be opened June 27, 2019”. A bid will not be considered unless it is received prior to the opening of the bids.

If the highest bidder defaults in payment of the bid price, and either the property is not sold for at least the amount of the highest bid or the Service incurs any costs resulting from the need for a subsequent sale, the bidder´s deposit will be retained pending final determination of the damages the Government sustained because of the bidder´s default. If damages exceed the amount of the deposit, the bidder will be liable for the excess damages.

The Government reserves the right to reject any and all bids and to withdraw the property from the sale.

You may obtain information about the property and proposed sale, and Form 2593–A, by contacting the office at the address shown below.
 
For additional information about the property and proposed sale, please contact the following office:
Name:Hallie Lipscomb
Title: Property Appraisal and Liquidation Specialist
Bureau: Internal Revenue Service
Address: 4330 Watt Ave
Sacramento, CA, 95821
Phone: (916) 974-5260
Email: Hallie.lipscomb@irs.gov
 
 
Available images for this Item
Following Pics are of Front of Home  
Following Pics are of Front of Home
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Following Pics are of Rear of Home  
Following Pics are of Rear of Home
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Following Pics are of the Main Floor  
Following Pics are of the Main Floor
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Following Pics are of the Kitchen, Pantry & Wetbar  
Following Pics are of the Kitchen, Pantry & Wetbar
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Following Pics are of Master Ste, Custom Closet & Staircase  
Following Pics are of Master Ste, Custom Closet & Staircase
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For additional information, please contact Hallie Lipscomb
Updated: 6/27/2019
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