Pasadena CA Cinema Lofts Offer Small Scale Living at 217 South Marengo Avenue
Cinema Lofts offers an opportunity for small scale living in Pasadena. This report is a market update for the complex located at 217 South Marengo Avenue at the southwest corner of Cordova Street with units currently for sale and sales dating back to 2012.
Sleek lines and a distinctive modern architectural design are hallmarks of the complex which was built in 2008. Statistical information in this report has been gathered from our local multiple listing service(mls) and may not include all transactions in the complex.
36 of the 37 residential units at Cinema Lofts are single level with under 700 and many less than 600 square feet. There is also a one two story work/live unit with about 1100 square feet with a large patio area and one commercial space as well.
The loft units offer an open single level floor plan with exposed ducting, high ceilings and expansive windows. Concrete floors can be found in many. Some have a small balcony or patio area. The interiors are enhanced by European-styled cabinetry, mosaic tile accents and quartz countertops. There are laundry connections in each unit. Despite the small size, the floor plans have a much larger feel.
The location is a short distance to multiple freeways as well as the Gold Line light rail station at Del Mar. There are abundant shopping, dining, entertainment and cultural options nearby including Old Pasadena, Paseo Colorado, Playhouse District, South Lake Avenue and Civic Center. The Walk Score has been identified as 88 very walkable where most errands can be accomplished by foot.
There is currently one Cinema Loft unit for sale. Newly listed, it has approximately 560 square feet on the fourth floor and offered at $399,000. So far this year, there has been one mls-reported closed transaction. Located on the third floor with no unit above, it featured 18 foot ceilings and measures approximately 615 square feet. It sold for $398,2000. Originally priced at $438,880, it had a reduction to $419,000 before selling in July for $398,200.
For full year 2014, there was just one closed transaction. It was a top floor corner unit with approximately 540 square feet and sold in December for $380,000(list price $385,000).
In 2013, there were five mls-reported transactions ranging from $315,000 to $378,00 with average sales price of $345,000(median sales price $350,000).
In 2012, there were three sales ranging from $317,000 to $355,000 with an average sales price of $341,196(median $351,588).
If you are interested in learning more about Cinema Lofts or any other Pasadena real estate whether it is living small or something larger contact me at 818.516.4393 cell. Let’s discuss what’s important to you whether you are a prospective buyer or seller.
Published: October 31, 2015
Pasadena CA Cinema Lofts Offer Small Scale Living at 217 South Marengo Avenue
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