150 Farragut Avenue Vallejo, California 94590 was a nuisance property that involved former friends turned business partners who bought a four-unit apartment complex as an investment property. Sadly, the two friends began fighting over how the Property was used and began missing mortgage payments on the Property. Bank of New York Mellon was the mortgage holder on the Property and began issuing foreclosure notices, which caused the Owners of the Property to believe they were being foreclosed on. Believing the Bank was foreclosing on the Property the two owners abandoned the Property and stopped speaking with each other, which left the property without a responsible owner.
The issues at this Property included almost twenty squatters living without running water who also dumped debris all over the Property. The squatters were also stealing electricity from neighboring units, which caused the Fire Department to be called out several times. Furthermore, police were called to the property over 150 times due to the substantial criminal activity and drug use at the Property. Furthermore, Vallejo Code Enforcement had issued thousands of dollars in liens and the building department had red-tagged the building on numerous occasions. Despite all the City’s efforts the squatters continued to occupy the Property endangering the health and safety of the neighboring community.
The situation at 150 Farragut was so dire that a Receivership petition was filed creating Solano County Superior Court Case FCS042681. The case was eventually heard in front of the Hon Michael Mattice who appointed a Receiver over the Property. Once the Receiver was appointed a major issue was removing the squatters from the Property, which required the City of Vallejo under the authority of the Receivership Order to initiate a swat-team raid that cleared everyone from the Property. Numerous arrests were made during the raid, but thankfully nobody was hurt.
Once the squatters were cleared the Receiver secured the building using state of the art board-up equipment known as SecureView. Secureview is a bullet-proof glass board up tool, which is nearly impenetrable and also allows enforcement agencies to see into vacant buildings. Once the property was secured against break-ins the Receiver hired a contractor to abate the dangerous conditions at the Property and after a few months the Property was sold to a real estate investor for $428,000. The as-is value prior to the appointment of the Receiver was $200,000, which means as a result of, the Receivership the property value went up $228,000. Furthermore, the City of Vallejo reached a settlement with the mortgage holder Bank of New York for $8,066 to cover the attorney fees and enforcement costs the City incurred.