The Meridian Affordable Condos in Pasadena at
64 North Mar Vista Avenue
This is an overview of the The Meridian condo complex in Pasadena. These relatively affordable Pasadena condos range in size from one bedroom/one bath to three bedrooms/three baths. The approximate square footages are just under 600 to over 1200 in a variety of single and two story floor plans with balconies. Built in 1987, the 92 unit complex is located at 64 North Mar Vista Avenue just north of Colorado Street where the annual Tournament of Roses Parade passes by each January.
The complex is gated with mature landscaping in an open courtyard which features a pool, spa and lounge area. There is also a fitness center, community laundry(I
understand some units have added washer-dryers subject to homeowner association approval - please verify) and a meeting room. Parking is subterranean.
The location is quite convenient to abundant shopping, dining, recreation and culture. Higher education is nearby too at California Institute of Technology(Caltech) or Pasadena City College(PCC). Transportation is easily accessible via the Foothill(210), Ventura(134) or Arroyo Seco Parkway(134) plus Gold Line light rail stations at either Lake or Allen avenues.
In the past(post 2008) this complex was hit by short sales and bank owned transactions that had an negative impact but the outlook here is very positive these days with improving but still very affordable(remember this is a relative term) prices.
- There is currently one condo available for sale at The Meridian. Newly listed, it is a two bedroom/one bath unit with approximately 860 square feet. So far in 2016, there have been four sales reported in our local multiple listing service(mls). Those transactions range from $368,000 to $460,000 with an average sales price of $432,625(median sales price of $451,200). They have sold on average at 101.67% of last list price and for $456.88 per square foot on average.
- For full year 2015(a particularly active year), there were eleven mls-reported closed sales ranging from $275,000 to $435,000 with an average sales price of $365,455(median $370,000). They sold at 100.25% on average of last list price and for an average price per square foot of $420.97.
- In 2014, there were five closed transactions reported. These sales ranged from $258,000 to $391,000 with an average price of $323,400(median $330,000). They sold at 98.72% of last list price on average and for $410.96 per square foot on average for the year.
As with any statistical data, a more detailed look is necessary in order for a buyer to gain the insight to best craft an offer to purchase or for a homeowner to arrive at a 
list price and marketing strategy that will attract the best possible offer that will close.
When we work together as a team, we will look beyond the square footages but analyze location within the complex, updates(or lack thereof) and some more subtle nuances including emotional appeal, motivation and timing. The mix of sales(different sizes is one factor) that can often skew numbers in a report as broad(an overview afterall) and brief as this one also need to be addressed.
Sound interesting? Let’s discuss what is important to you. I can be reached at 818.516.4393 cell.
Published: August 8, 2016
The Meridian Affordable Condos in Pasadena at
64 North Mar Vista Avenue
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