04/07/2011 01:16 pm ET Updated Jun 07, 2011

Mello Residence By Buff, Straub & Hensman

Curbed LA was correct when they guessed there would be "quite a stampede" for this 1956 Buff, Straub, & Hensman home. Less than a month after it came on the market, the "Mello Residence" is already in escrow, according to the official listing website.

The seven bedroom, three bathroom home in Pasadena is being sold by its original owners and is described as "virtually unaltered." It qualifies for the Mills Act tax status, which means that homeowners can get a reduction on their property taxes if they use the savings to restore and rehabilitate the home. The post-and-beam home has an open floor plan, floor-to-ceiling glass walls and doors, and built-in cabinetry.

The 2,981 square foot home sits on a 41,600 square foot lot of what used to be a garden of a larger property, the neighboring Knudsen Estate. Remnants of the old garden are still visible in the brick pillar arbor, meandering brick pathways, and faux bois handrails that lead to an oak grove. The home also has gated access to nearby Brookside Park.

Photos by David Stankov, courtesy of the official listing with Peter Martocchio and David Goldberg of Sotheby's International Realty.