Half-Price Sale: $149,000 Condo in Glendale 91205
Redfin’s email update for Glendale 91205 shows 513 E. Maple Street, #1, first listed at $300,000 in May, now priced at $149,000 after three price drops.
It is probably a short sale (it last sold in 2005 for around $300,000), although the listing does not state this. The unit is 1 bed/1 bath and 1 level on the ground floor of an older courtyard-style complex which must have been an apartment building in the last century.
Structures of this style strike me as more open and neighborly than newer condominium projects with imposing frontages and elevations. The older lots often have a generous amount of green space (the listing above mentions a large setback, green lawn, and shade trees).
At $149,000, this condo could actually be a better deal than renting a similar apartment after a few years (I’m skipping consideration of homeowner association fees, since none are disclosed in the listing). Its price per square foot, $241, is just at the average for condominiums sold in this neighborhood over the past three months. If it is a short sale, it is actually priced right at the market.
91205 Condominium Averages:
SALES (Past 3 months)
Number sold: 7
Price: $325,000
Price per square foot: $242
LISTINGS
On the market: 31
Price: $340,000
Price per square foot: $376
On Redfin: 107 days
Here are a few 91205 condominiums listed on Redfin close to the average sale price per square foot:
1124 E. Chestnut Street, #41 $430,000
2 bed/3 bath
1,755 sq.ft.
$245 per sq.ft.
On Redfin 55 days
The listing states that there is a third bedroom with no closet. Last sold for $435,000 in 2005.
1517 E. Garfield Avenue, #93 $209,999
1 bed/1 bath
708 sq.ft.
$297 per sq.ft.
On Redfin 12 days
Last sold in 2005 for $319,000
501 E. Palmer Avenue, #A5 $369,000 (originally $399,000)
3 bed/2.5 bath
1,199 sq.ft.
$308 per sq.ft.
On Redfin 212 days
Last sold for $230,000 in 2004. Homeowners’ association dues are $164.
Two recent condo sales from my Redfin search in this neighborhood (each of these were sold for less than their previous sale price):
1124 E. Chestnut Street, #38 $303,900
2 bed/2 bath
1,212 sq.ft.
$251 per sq.ft.
701 E. Acacia Avenue, #E $310,000
2 bed/3 bath
1,313 sq.ft.
$236 per sq.ft.
