Status Update: October 2011 - Along Pasadena Millionaire's Row
This is a market recap of condominums and townhomes in the South Orange Grove corridor of Pasadena, California. First, a definition of the area for this report is in order. In this report, I extend beyond what some may consider the "prime area" along South Orange Grove Boulevard in and include properties south of Colorado Boulevard and north of Columbia. For the eastern boundary, I include Singer Park on California Boulevard and all of the streets that run parallel to California. The western boundary for this report is the Arroyo(south of the Colorado Street Bridge). This report does not include any of the condos or townhomes in Old Pasadena or those north of the 210 Freeway(so it does not include Orange Grove Village I or II, Continental Court or any of the developments between North Orange Grove and Arroyo Drive). All information is from the multiple listing service on November 8, 2011 -- it has not been verified and is not guaranteed.
Regarding the term "Millionaire's Row" and its significance to South Orange Grove Boulevard: Many landmark mansions and estates once lined this broad boulevard and the surrounding neighborhood. Some of those mansions and estates certainly exist in this prime neighborhood just east of the Arroyo Seco along with the condominiums and townhomes.
Wrigley Mansion - a landmark along South Orange Grove Boulevard - Pasadena
www.camoves.com/michael.jacobs
Status Update: October 2011 - Along Pasadena Millionaire's Row
According to our local multiple listing service reports there were seven sales in the South Orange Grove Corridor(condos/townhomes) during the month of October, 2011. The sale prices ranged from $445,000(a two bedroom unit in the Garden Grove complex) to $899,000(a unit at 2003 bult The Savannah which has subsequently just been re-listed at $979,000 within the last five days.
During October 2010, there were three sales. They ranged in sold prices from $270,000(a one bedroom second level unit at Castlegate) to $850,000(to a second level unit at 660 South Orange Grove--what an impressive lawn area at this complex!).
Currently, there are 26 condos or townhomes on the market for sale along the South Orange Grove corridor. They range in price from $325,000 to $1,975,000(same price range as end of September 2011). Ten units are in escrow with the most recent list prices of $339,000(in Castlegate) to $795,000(one of the units in the three townhome project on Bellevue).
South Orange Grove remains one of the most desired addresses in the San Gabriel Valley....so presentation and pricing continue to be very important, this is not typically a good market for properties in need of repair or updating....buyers want move-in condition.
South Grand Avenue Historic Townhomes & Condominiums
One Property for Sale: $1,495,000
One Property in Escrow: $689,000(list price, short sale)
Status Update: October 2011 - Along Pasadena Millionaire's Row
Looking to buy, sell or just curious about condominiums or townhomes along the South Orange Grove corridor or anywhere in Pasadena or the adjacent San Gabriel Valley communities contact Michael Jacobs 818.516.4393 cell or michaeljacobs@coldwellbanker.com.
1 South Orange Grove
Closed Escrow October 25, 2010 List Price: $595,000, Sales Price: $579.000
Grovesnor Square -- currently available for $539,000
900 South Orange Grove Boulevard -- four unit complex -- Unit C Closed Escrow October 18, 2011
Original List Price: $695,000 Final Sales Price: $545,000
On Market 502 days according to multiple listing records
411 Gordon Terrace -- a six unit complex
Closed Escrow this week --- contact me for final sales price or check next month's market report
All active, pending and closed sales information is from our local multiple listing records. It has not been verified and is not guaranteed.
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