Lights! Camera! Action!
Spotlight on Pasadena Cinema Lofts
Small Scale Loft Living at 217 South Marengo Avenue
This is a look at real estate market activity for the Cinema Lofts complex located at 217 South Marengo Avenue at the southwest corner of Cordova 
Street in Pasadena. Sleek lines and a modern flair combine to create an eye-catching architectural statement for the complex which was built in 2008.
In this report I will share information for activity so far in 2017 with a comparison to the previous five years. The statistical information in this report has been gathered from our local multiple listing service(mls) and may not include all transactions in the complex.
Cinema Lofts offers an opportunity for small scale living in Pasadena. 36 of the 37 residential units at Cinema Lofts are single level with under 700 square feet(many less than 600 square feet). There is also one two story work/live unit with about 1100 square feet and a large patio area. Additionally, there is one commercial space. The single level loft units offer an open floor plan with exposed ducting, high ceilings and expansive windows. Concrete floors can be found in many of the units. Many 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 in Old Pasadena, Paseo Colorado, Playhouse District, South Lake Avenue and Civic Center.
There are currently no units at Cinema Lofts available for sale. There are three properties in escrow. So far in 2017 there have been no reported closed sales.
There were five closed sales reported in 2016. The transactions ranged from $383,000 to $450,000 with an average sales price of $409,600(median sales price $399,000). Each sold at or above its list price for an average 100.94% for the year. The average price per square foot was $717.83 in 2016.
In 2015, there was one reported sale. Located on the third floor with no unit above, it featured 18 foot ceilings and measured 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 also 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).
Would you like to know more about Cinema Lofts or any other Pasadena area real estate. If you are considering a purchase or selling a property in the area, let’s talk about what is important to you.
There’s more to consider than “just the numbers”. Let’s delve beyond the statistics where I can share the differences in location within the complex, condition, updates(or lack of them), emotional appeal and timing. Combing those with other factors, you can make the best possible decision about your move. That's true at Cinema Lofts and elsewhere in the area too. I can be reached at 818.516.4393 cell. I look forward to hearing from you.
Published: February 25, 2017
Small Scale Loft Living at 217 South Marengo Avenue
Lights! Camera! Action!
Spotlight on Pasadena Cinema Lofts
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