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 
and 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.
Cordova 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 
while 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.
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
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