Cordova East Condos in Pasadena 1115 Cordova Street

By
Industry Observer CalBRE #01165532

Cordova East Condos in Pasadena

1115 Cordova Street



This is a real estate market activity report for the Cordova East condominium complex in Pasadena.   Located at 1115 Cordova Street, Cordova East was built in 1963 as apartments and was later converted to condominiums.  The 69 single level units range in size from studios to two bedrooms/two baths 1115 Cordova Street Condos in Pasadena Close To Caltechand from under 500 to over 1700 approximate square feet.  

 

In this report, I will share information regarding units for sale as well as closed transactions so far in 2017.   Additionally, I am including a recap of sales for the previous three years.  The statistical data for this report has been gathered from our local multiple listing service(mls) and may not include all transactions in the complex.  

 

Affordable Pasadena Condos Near South Lake AvenueCordova East features a central courtyard with mature landscaping.  

 

The amenities include two elevators, two lobbies, pool and lounge area.  There are multiple common laundry areas.  Parking is gated with either a carport or a space underneath the building.

 

Its location is the most important feature of  Cordova East.  After location, the size of the units and the relative affordability make condos in this complex an excellent value in my opinion.  While I happen to like mid-century modern style, the complex could some updating to the exterior and common areas Affordable Condos In Pasadena Near South Lake Avenuewhile maintaining just enough of the kitsch that provides a certain vibe.

 

Situated just north of the campus of the California Institute of Technology (Caltech) and east of Pasadena City College, the complex is convenient to South Lake Avenue, Playhouse District, Paseo, Old Pasadena and the Civic Center area where you will find a vast array of shopping, dining, culture and entertainment destinations.   Transportation is convenient with easy accessibility to the Foothill(210), Ventura(134) freeways and the Arroyo Seco Parkway(110) plus a Gold Line light rail station at Lake Avenue.

 

  • There is currently just one Cordova East condo for sale.  Newly listed, it is a two bedroom/two bath floor plan with approximately 983 square feet priced at $469,000.  A studio unit with approximately 495 square feet was reported sold in January of this year.  It was offered at $349,000 and sold for $340,000 in an all-cash transaction.  

 

  • In 2016, there were three mls-reported closed transactions.  Each was a one bedroom floor plan with approximately 768 square feet priced and sold between $339,000 and $378,000 with an average sales price of $354,000(median sales price $350,000).  They sold at 101.53%(each sold at or above list price) and for $460.94 per square foot on average year-to-date.  

 

  • There were four closed sales reported in 2015.   These sales ranged from $220,000 to $550,000 with an average price of $332,750 (median $280,500).   They sold at 101.22% of last list price and for $398.78 per square foot on average.  

 

  • There were five sales in 2014 ranging from $220,000 to $430,000 with an average price of $307,400 (median $308,000).   They sold at 99.59% of last list price and for $387.41 per square foot on average.  

 

Affordable Condo Living in Pasadena



Availability of Pasadena condos for sale remains low and that is definitely the case at Cordova East as well. The differences in prices, dollars per square foot and sale to list percentage is reflective of many factors including the size of the unit, location within the building, updates(or lack thereof), timing, emotional appeal and other factors.  These nuances obviously make a difference in final sales prices.       

 

Whether you are a prospective buyer or a homeowner thinking of selling and you are looking for real estate assistance, I welcome the opportunity to discuss how you can win in the constantly changing Pasadena real estate market.  And if you are a buyer and there are no units available for sale at Cordova East, I’ll likely be able to share an alternative building.   I can be reached at 818.516.4393 cell.

 

Published:   September 29, 2017

 

Cordova East Condos in Pasadena

1115 Cordova Street

 

 

Posted by

Michael Jacobs

 

CalBRE # 01165532

P. O. Box 587

Pasadena, CA 91102

Call/Text:  818.516.4393

mtj916@gmail.com

 

 

Comments (19)

Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Thank you for sharing.

Sep 29, 2017 03:42 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Michael. Sounds like demand is high and supply is low. Once an owner, reluctant to move on! Enjoy your day!

Sep 29, 2017 04:25 AM
Lori Gardiner
RE/MAX River's Edge - Bristol, RI
GRI, SRS, ABR, e-PRO

Good Morning Michael, Nice listing! Great photo and write-up! Wishing you a quick and smooth transaction. Have a great weekend!

Sep 29, 2017 04:27 AM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Michael.  Thanks for the information and update of the Cordova East condo community in Pasadena CA.

Sep 29, 2017 04:50 AM
Amanda S. Davidson
Amanda Davidson Real Estate Group Brokered By eXp Realty - Alexandria, VA
Alexandria Virginia Homes For Sale

Good morning Michael, another community in Pasadena that is highly sought after and experiencing low inventory. Anyone considering listing their Cordova East condo for sale would benefit from your expertise. You always have a pulse on the market and know what it takes to achieve top dollar.

Sep 29, 2017 05:23 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Michael, Cordova East sounds like an affordable housing option in Pasedena and those buyers interested in the one for sale should give you a call.

Sep 29, 2017 06:03 AM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Location, location, location is one of the reasons that Cordova East in Pasadena may be a good choice for many buyers.

Sep 29, 2017 07:23 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Michael,

What a lovely first photo for the Cordova East complex of condos.  It immediately sets the tone.  Glad to hear there is at least one for sale, and if anyone should want to list theirs, you would be the perfect person.  A

Sep 29, 2017 08:01 AM
Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

Cordova East looks to offer some very affordable options for buyers in your area.

Sep 29, 2017 08:32 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Michael- another thorough market report on Cordova East Condos!  With high demand and limited supply, anyone interested should call you. 

Sep 29, 2017 08:36 AM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Michael, 

Another well presented market report on Cordova East Condos.  You know the Pasadena condo market better than anyone and your clients are extremely fortunate to have your knowledge base and expertise in this area. 

Sep 29, 2017 10:09 AM
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

I love trees and outdoor space so these start out well. Seems like a decent price for this wonderful location.

Sep 29, 2017 10:12 AM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Cordova East Condos look like a nice afforable place to call home in Pasadena!

Sep 29, 2017 10:13 AM
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Hi Michael. I really appreciate your ability to find an alternative complex that has many of the same features - or similar. That's the guy I'd want to hire. D 

Sep 29, 2017 10:53 AM
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Michael - That available unit looks like a great opportunity. Interested buyers would be wise to put your expertise and negotiating skill to work on their behalf. Have a great weekend!

Sep 29, 2017 02:53 PM
Elizabeth Weintraub Sacramento Broker
Elizabeth Anne Weintraub, Broker - Sacramento, CA
Put 40 years of experience to work for you

Even before you told us, Michael, that Cordova East was built in 1963, I knew the construction was the 1960s. I also appreciate the yin and yang trees out front.

Sep 29, 2017 07:09 PM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I appreciate the amount of research that you have put into this market report and it was well worth your work you did and provided us Michael Jacobs 

Sep 29, 2017 10:28 PM
Roy Kelley
Retired - Gaithersburg, MD

Families on the move will love your local community reports.

Oct 01, 2017 09:07 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Michael, great presentation for the Cordova East condos, and compared to other communities you have showcased, it seems these condos are more affordable.

Oct 04, 2018 07:46 AM