Paso Robles golf course sold for $1.7 million
The Links at Vista Del Hombre sold at bankruptcy auction Oct. 16
The The Links at Vista Del Hombre was sold at a bankruptcy auction for $1.7 million in Paso Robles on Oct. 16. The sale came in the bankruptcy case of Kelly V. Gearhart and Tamara D. Lowe at the order of the United States Bankruptcy Court Northern District of Ohio. The high bidder was John Wilson, a North County developer, according to bidders present. Wilson’s developments the SLO Promenade Shopping Center in San Luis Obispo and Mission Oaks Shopping Center in Atascadero.
The 205-acre golf course east of the Paso Robles Airport at 5151 Jardine Road includes three adjoining lots. It boarders vineyards to the north and west. It was formerly an 18-hole, 72-par golf course. The total assessed value of the golf course was $2,235,007. The property was sold free and clear of all liens, claims and encumbrances. Bidders were required to register and pay with a cashier’s check.
Gearhart, a former local developer, is facing criminal and civil accusations of fraud related to his development and financing activities. In August 2012, he pleaded not guilty to 16 charges of mail fraud, wire fraud and money laundering to a federal judge in Los Angeles. He could face up to 300 years in federal prison if convicted on all charges.
The auction included two other residential developments by Kelly Gearhart in Atascadero. One site is approved for 11 homes near Atascadero and Navajoa avenues with an assessed value of $495,000. The other is a 1-acre residential lot at 9405 Avenida Maria, Atascadero. It has an assessed value of $719,997. The sold for $210,000 and $230,000, according to reports.
The auction was 11 a.m. on Wednesday at Courtyard by Marriott Paso Robles, 120 S Vine Street, Paso Robles. Inspection and viewing of the property was only available by appointment. The sale is being handled by Maltz Auctions, (516) 349-7022.
Golf course parcel information
Property ID #1: Parcel # 025-442-023
Assessed Value: $ 1,135,833
Annual Real Estate Taxes: $12,329.46
Property ID #2: Parcel # 025-442-022
Assessed Value: $739,487
Annual Real Estate Taxes: $8,027.12
Property ID #3: Parcel # 025-442-021
Assessed Value: $359,687
Annual Real Estate Taxes: $3,904.40
Top stories Oct. 18, 2013