By Chris Caraveo | YourValley.net
In the southeast corner of Avondale Boulevard and Thomas Road, the Oak Park subdivision has been a part of the Avondale community for over 10 years.
But its population is 0. No one lives there.
As of March 6, only four unoccupied houses are within the subdivision. The rest is dirt or paved roads. According to Maricopa County Assessor records, the land is owned by Avondale Recovery Acquisition LLC, a subsidiary of Raintree Investment Corporation in Carlsbad, California.
“This sounds extremely unusual as we have a desperate shortage of homes to meet demand at the moment,” said Mike Orr with The Cromford Report, a group that analyzes the housing market in Arizona.
According to records, the four single-family residences were constructed in 2009 with 2020 Full Cash Values between $231,000 and $284,000. Records appear to indicate the subdivision has the capacity for over 50 homes.
