South Pasadena CA Historic Ostrich Farm Lofts
For Sale Market Update
This is a recap of market activity for Ostrich Farm Lofts in South Pasadena. Living up to its name, the location was the original site of the first ostrich farm in the United States in the late 1800s. It has been said that the original ostriches made the journey from their native South Africa to Texas before eventually arriving by train to what is now the Ostrich Farm Lofts. The property addresss is 1010 Sycamore Avenue near Pasadena Avenue.
Although the trip was not entirely successful, the surviving 18 ostriches at one point grew to over 100. During the early 20th century, visitors could experience ostrich drawn carriage rides and buy ostrich related items at the factory store. It later turned into a clothing factory and outlet before an extensive transformation into 53 loft spaces in 2006.
The time of the transformation was difficult as Southern California faced challenging real estate times. In 2009, there was an auction held to sell the remaining units at discounted prices.
The lofts range in size from approximately 700 to over 2000 square feet of living in a variety of single and multi-level floor plans. There is a lobby entrance which has an art gallery feel to it along with an interior garden area. The units feature open floor plans, high ceilings, expansive windows, exposed ducting and concrete floors. Some have terrace areas. Kitchens and baths were designed with European style cabinetry and sophisticated finishes along with washer-dryer connections in the unit. Parking is secured.
The South Pasadena location is at the city border of Los Angeles (Garvanza/ Highland Park). South Pas has a small town feel but with big city conveniences.
It is close to the Arroyo Seco Parkway(110) plus the Gold Line light rail station at Mission and Meridian where the weekly Farmers Market is held. You will also find unique shopping and dining in the neighborhood in addition to award winning public schools and popular community services and events.
There are currently two Ostrich Farm Lofts on the market for sale. With just over 900 square feet each, they are priced at $528,888 and $530,000.
There were three mls-reported closed transactions in 2014 ranging from $525,000 to $856,000 with an average sales price of $656,167(median sales price $587,500). They sold at 95.30% of last list price and for $527.58 per square foot on average.
A single level unit with approximately 760 square feet was the only mls-reported sale in 2013, It sold for $380,000(list price $389,000).
If unique and historic condominium living seems interesting to you, Ostrich Farm Lofts might be an ideal fit. If you would like to know more detailed information regarding such opportunities in our area, whether you are a prospective buyer or a homeowner thinking of selling, contact me at 818.516.4393 call | text.
Published: February 9, 2015
South Pasadena CA Historic Ostrich Farm Lofts
For Sale Market Update
Comments(14)