El Molino Terrace Pasadena Condos in Playhouse District
El Molino Terrace is a condominium development in Pasadena. Originally built as apartments in 1987, the 77 unit complex is located at 300 North El Molino Avenue just blocks north of Colorado Boulevard and a short distance to the Gold Line Lake Avenue station and the 210 Freeway plus the Pasadena Playhouse District and South Lake Avenue.
The complex was converted to condos in approximately 2004. El Molino Terrace has three floors of single level condos that range in size from studios to two bedrom/two baths. Interior features include: fireplaces, granite countertops in kitchen/baths, nine foot ceilings and in-unit laundry connections. Each condo has either a patio or balcony. Parking is in the subterranean garage accessed off Locust with either one or two spaces.
El Molino Terrace has a pool, lounge area, spa, meeting room/lounge, sauna, barbeque area and gym on premises. If you decide to leave home(and why would you?) you are just minutes away from many fine dining, shopping, entertainment and cultural options.
There are currently two condominiums on the market for sale in El Molino Terrace. Both of the units are studio units with approximately 450 square feet. One unit on the top floor is a short sale priced at $174,000 and the other is a bank owned condo on the second floor offered at $192,500. A two bedroom/two bath unit on the first floor is in escrow - it is a short sale and was listed at $279,000. According to our local multiple listing service there have been five sales as of this yesterday(through July 23, 2012). Each was a two bedroom unit and ranged from $265,000(two bedroom/one bath unit) to $285,000(two bedroom/two bath). Average sales price to date in 2012 have been $275,800(median price $279,000) and average price per square foot has been $284,24. Of the five sales to date in El Molino Terrace four have been short sales and one was a bank owned property.
In 2011, there were four sales for the year - two standard sales, two bank owned. The average sales price was $301,300(median $302,500) with an average dollars per square foot of $299.00.
If you are a Pasadena condo or townhome owner and would lke to know values today or if you are thinking of buying I am happy to discuss the possibilities with you. My name is Michael Jacobs and I can be reached at 818.516.4393 cell or michaeljacobs@coldwellbanker.com.
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