Oakland Place Condos in Pasadena With A Convenient South Oakland Avenue Address
Located at 515 South Oakland Avenue and 525 South Oakland Avenue, you will find the intimate twelve unit Oakland Place condominium complex. There are six
individual two story buildings each with a single story unit(ground and upper level). There is an attractive brick drive that separates the two address and leads to the 
covered parking in the rear of the complex that was built in 1964.
The leafy South Oakland Avenue location is situated just north of California Boulevard and is just west of South Lake Avenue and the California Institute of Technology(Caltech). It is also quite convenient to the Pasadena Playhouse District, Paseo Colorado, Pasadena Civic Center and Old Pasadena. Needless to say, there are abundant shopping, dining, cultural, entertainment and recreation opportunities nearby. Transportation via multiple freeways as well as Gold Line light rail is easily accessible as well.
The low density of this complex combined with a New Orleans-inspired architectural flair create a very welcoming ambiance in my opinion. The units are spacious with three bedrooms and up to three baths. The approximate square footages range from around 1500 to over 1700. There are no common walls giving each residence more of a single family feel than you usually find in a condominium. Lower level units 
have two patio areas while upper units can terraces. There are fireplaces and while there are common area laundry facilities on site, most units have installed washer-dryers(but please verify for compliance). Of the units I have seen over the years, the conditions vary from showcase quality to those where a visionary buyer could work their own magic to transform.
Turnover as you might imagine in a smaller Pasadena condo complex is typically rare. In this report, I will share market activity in the complex so far in 2016 with a comparison to performance for the previous three years. Statistical information has been gathered from our local multiple listing service(mls) and may not include all transactions in the complex.
Recently a ground floor Oakland Place condo came on the market for sale. Extensively renovated, the three bedroom/three bath floor plan has approximately 1564 square feet and is offered at $699,000. While I don’t have a crystal ball, I would expect this unit to receive a lot of attention. How can I predict err expect that? This is a ground floor unit -- upper level units in this complex are accessible only by stairs -- no elevators in the building and finding three bedroom and three baths is not easy to find. Add many updates to the equation and I feel pretty comfortable with my “prediction”.
The most recent mls-reported sale was in 2015. This was the same square footage as the unit currently on the market and it sold for $700,000(last list price $725,000) in an all cash transaction in April of that year.
In 2014, there was one closed transaction according to mls records. Again, it was the same floor plan and sold for its list price of $590,000 in February of that year. It was an all cash sale too.
There were three closed sales reported in 2013 ranging from $487,500 to $575,000 with an average sales price of $545,833 (median $575,000). They sold at 97.76% of last list price and for $341.67 per square foot on average.
If you would like additional information for Oakland Place condos or any Pasadena real estate, please contact me at 818.516.4393 cell. Whether you are a buyer considering a move or a homeowner thinking of selling, let’s discuss what is important to you.
Published: September 16, 2016
Oakland Place Condos in Pasadena With A Convenient South Oakland Avenue Address
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