Rasheed Wallace's $5.2 million mansion back on market in Portland
08:57 AM PDT on Tuesday, July 31, 2007
One month after Scottie Pippen sold his Portland mansion at a loss, another former Trail Blazer is trying to unload a property.
Detroit Pistons (and former Blazer) Rasheed Wallace smiles as he takes a shot during practice at the Palace in Auburn Hills, Mich. (AP photo)
Rasheed Wallace, who was traded by the Trail Blazers in 2004 and now plays for the Detroit Pistons, has relisted his 9,914-square foot home in the Dunthorpe neighborhood at $5.2 million, down from the $5.5 million he sought when he first put the house up for sale last year, The Oregonian newspaper reported.
Wallace and his wife, Fatima, bought the five-bedroom home in 2000 for at least $3.5 million.
More: Pippen's mansion sold for $2.95 million
If Pippen's real estate story is any indication, then Wallace could have trouble getting his price. The Pippens paid $4 million in 2000 for their 18,700-square-foot home, and sold it for $2.95 million.
Built in 1924, Wallace's house sits on two acres of land, boasts custom-wrought iron, imported marble and hardwood floors. It has five full bathrooms, five fireplaces, a garage for five cars, a built-in saltwater tank and reef, theater, tennis court and resort-style swimming pool.
The couple benefited from a state tax credit offered to owners of historic homes, allowing them to pay about one-third the property taxes they would otherwise have had to pay.
The house has been for sale for about a year, said Steve Kaer, who is the listing agent along with Tricia Epping. The house has received several offers and continues to be shown about once a week, he said.
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