Affordable Monrovia CA Condos at Parke Victoria
This is a real estate market activity report for the Parke Victoria condominium complex in Monrovia. This condo complex offers a relatively affordable opportunity in a popular location. I will share 2016 year-to-date information as well as full year sales results dating back to 2012. All statistical information in this report has been gathered from our local multiple listing service(mls) and may not include all transactions in the complex.
Built in 1985, Parke Victoria consists of 54 condos with one or two bedrooms. The gated complex is built around an open landscaped courtyard with elevator access to the different levels. There is definitely a Victorian influence to the exterior architecture while the interiors are more modern. Upper floor units have vaulted ceilings and some have loft areas. Balconies enhance the living space and each plan has washer-dryer connections. Parking is in a ground level controlled access garage area.
Parke Victoria is located on West Lemon Avenue just steps away from vibrant Old Town Monrovia where you will find a unique collection of restaurants, cafes and stores. It’s also home to the Krikorian Premiere Theater complex plus the weekly Friday Night Family Festival. Library Park features the occasional concert, special events or just a nice place to relax. Along Huntington Drive you will find additional dining and shopping opportunities.
Monrovia is located just east of Pasadena with easy access off the Foothill(210) and San Gabriel River(605) freeways in the foothills of the San Gabriel Mountains. The Gold Line light rail extension opened earlier this year in the city.
There is currently one Parke Victoria condo available for sale. It is a one bedroom/den/one bath floor plan with approximately 834 square feet with numerous updates priced at $359,900 There are two additional units in escrow. So far in 2016, there have been no mls-reported sales.
In 2015, there were six closed transactions reported ranging from $345,000 to $418,000(all but one were two bedrooms). The average sales price was $399,667(median sales price $407,500). They sold 16 97.81% of last list price on average and for an average price per square foot of $411.42.
For full year 2014, there were five reported sales. Each was a two bedroom/two bath floor plan ranging in approximate square footages from 984 to 1081. They ranged in price from $398,000 to $435,000 with an average sales price of $410,180(median $408,000) and for 100.82% of last list price. The average price per square foot is $394.00.
In 2013, there were four mls-reported closed sales with an average sales price of $319,250 (median $328,500). Each was a two bedroom unit and they sold for an average 104.92% of last list price and for $338.57 per square foot. 2012 saw just two sales. An upgraded one bedroom sold in January of that year for $235,000 and a two bedroom short sale closed for $275,000 in October.
Obviously when numbers are involved and in a report as brief as this - additional and more detailed information will be needed for a prospective buyer or a property owner thinking of selling. Of course the size is important but so are updates(or the lack thereof), location within the complex and emotional appeal all come into play as a factor in pricing. If you would like to know more about Parke Victoria or any Monrovia real estate contact me at 818.516.4393 cell. Let’s discuss what is important to you.
Published: June 25, 2016
Affordable Monrovia CA Condos at Parke Victoria
Comments(18)