Pasadena CA - 700 South Lake Avenue Condos for Sale 4.14.14

Pasadena CA - 700 South Lake Avenue Condos for Sale 4.14.14

This is a recap of condos for sale at 700 South Lake Avenue as well as a market update for sales so far in 2014 with a comparison to full year sales in 2013 and 2012.   All statistical information is from our local multiple listing service(mls) as of April 14, 2014.  

700 South Lake is a handsome 80 unit condominium building built in 1974 and located just north of the Langham Huntington Hotel and Spa in one of Pasadena’s most sought after neighborhoods.   The complex consists of both single level condominiums in three buildings as well as two story townhouse style units.   The properties range in size from one bedroom to two bedroom/den/two-and-one-half baths.   Each has high ceilings, a fireplace, laundry connections and outdoor space(either a patio or balcony and in some cases multiple balconies)

The professionally managed complex features beautifully landscaped grounds with a pool and spa.  There are three lobby areas, multiple elevators and subterranean parking.  

The location is definitely a popular one and is convenient to the South Lake Avenue District with many shopping and dining spots.   The California Institute of Technology(Caltech) is very close as are multiple freeways and the Lake Avenue Gold Line light rail station.  

There is currently one condo available for sale at 700 South Lake Avenue.  Newly listed as of April 14, 2014, it is a first floor single level unit with two bedrooms, two baths and approximately 1454 square feet and priced at $585,000.    

There have been two closed transactions in 2014. Each was a two bedroom/two bath unit with 1454 square feet.  In January a second floor unit closed for its last asking price of $495,000 and in March, a first floor unit sold for $625,000(list price $598,000).   On average, this is 102.26% of last list price and and an average of $385.15 per square foot.

For the entire year 2013, there were five mls-reported sales transactions ranging in closed price from $453,000 to $675,000 with an average sales price of $550,000(median sales price $539,000). They sold at an average 100.74% of last list price with an average $380.45 per square foot.

In 2012, there was just one sale for the entire year.  It was a top floor unit(again with approximately 1454 square feet) which closed for $585,000(list price $574,000) in January of that year.

If you would like to know more about Pasadena condos or any real estate, contact me at 818.516.4393 cell.   Whether you are a prospective buyer or a property owner thinking of selling, I look forward to discussing the opportunities available to you.

Pasadena CA - 700 South Lake Avenue Condos for Sale 4.14.14