1914 Florida Street Vallejo, California 94590 was a longstanding nuisance property in the City of Vallejo. Sadly, the Owner of the Property had been deceased for years and the mortgage holder Wells Fargo continued to pay property taxes, but refused to foreclose on the Property. Therefore, the property sat unoccupied for years until it was occupied by squatters who engaged in all sorts of egregious behavior including excessive drug use, illegal dumping, and simply living in squalor, which endangered all the surrounding properties.
To illustrate the issues at the Property, the Vallejo Police Department had been called to the Property over fifty times, Vallejo Code Enforcement had issued thousands of dollars in fines, and the Building Department had red-tagged the building on numerous occasions. Despite the City’s efforts the squatters continued to occupy the property and engage in criminal activity. Since the Owner was deceased and Wells Fargo refused to foreclose the only option was to seek the appointment of a Receiver.
Therefore, to address the substantial issues at the Property a receivership petition was filed creating Solano County Court Case FCS042567. In this case, the Hon. David Power appointed a receiver over the Property. The receiver then borrowed money and made significant repairs to the Property, which was eventually sold to a young family for $205,000. Prior to the receivership the as-is value of the Property was $67,000, which means the receivership resulted in a property value increase of $138,000. Furthermore, the City of Vallejo settled with Wells Fargo and received $10,000 to cover their attorney’s fees and expenses.