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Hot Property: Former Lenny Dykstra house listed at $10.5 million

foreclosureforeclosure auctionhome saleHot PropertyIndex InvestorsLenny Dykstrareal estateWayne Gretzky

Dykstra 
The Thousand Oaks estate that former ballplayer Lenny Dykstra lost to foreclosure auction last month has returned to the Multiple Listing Service Thursday at $10.5 million.

The property, once listed by Dykstra at $25 million, was marketed at $9,999,000 before its purchase by Index Investors. The winning bid of $760,712 does not reflect additional amounts owed for missed payments, taxes and the $12-million first loan held by JP Morgan Chase & Co.

Work is underway to restore the 6 1/2 acre-compound that Dykstra bought in 2007 from hockey great Wayne Gretzky, said Jeff Smith of Index Investors, a development firm.

"The pool is blue and beautiful, the fountains work and the remote control for the gates work," Smith said. He is currently re-sodding all the lawns at the cost of about $100,000. "Wayne had put about $1 million to $1.5 million into the landscaping and hard-scaping."

Smith anticipates it will take six months before the property is in turn-key condition. When asked about the listing price he said that would be for "as is" condition.

"Nobody paid any attention to it for a year and half," Smith said of its current state.

-- Lauren Beale

Thoughts? Comments?

Photo: Repairs are underway to return the home of former MLB player Lenny Dykstra to its former glory. Credit: John W. Adkisson / Los Angeles Times

 
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