Would You Consider Living In Under 700
Square Feet in Pasadena?
Small Scale Living in Pasadena at
217 South Marengo Avenue
Cinema Lofts Units Are Under 700 Square Feet
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. In this report, I will share information for activity so far in 2017 with a comparison to the previous three full 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.
Sleek lines and a modern flair combine in creating a particularly eye-catching architectural statement. Built in 2008, Cinema Lofts offers an opportunity for those who are interested in 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 floor plans. Some have a small balcony or patio area. 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.
There is currently one unit available for sale at Cinema Lofts. Newly listed, the loft shows 643 square feet with public records reflecting 550 square feet. It is priced at $429,000. Two lofts have been reported as sold so far in 2017. In February, a unit listed for $388,000 closed for $407,000 and in April there was a similarly sized-unit which sold for $429,000(list price $435,000).
There were five mls-reported sales in 2016. These 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 listed at $438,880, it had a price 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).
Obviously living in under 1000 square feet and closer to 500 is not a size that will be the right fit for everyone. But if smaller size living sounds intriguing there are some other options in the Pasadena I can suggest as well.
Interested in knowing more? Contact me at 818.516.4393 cell. Let’s discuss what is important to you?
Published: September 11, 2017
Would You Consider Living In Under 700
Square Feet in Pasadena?
Comments(24)