There were three San Marino homes on the Real Estate Broker's Open House tour today. Two of the homes were luxury estates over $3 million and one home was a San Marino home that has been on the real estate market for awhile and just had a price reduction.
Let's start with the home that just had a price reduction. It's a 4 bedroom, 3 bath home on 1635 Rubio Drive. This home was originally listed at $1,790,000 and in my opinion was extremely overpriced. It has a lot of deferred maintenance, doesn't show well - was not prepared for sale nor has care been taken to prepare it for any showings including previous broker open houses. All in all, it is not a surprise that the price was reduced to $1,499,000. This home has been on the San Marino real estate market for 118 days as of today. It is currently priced at $557 square feet and definitely falls into my "San Marino dusty deals" category where the seller most likely will be willing to negotiate a bit more to move this property.
New Home Listings this week: Luxury San Marino estates
As discussed on this real estate blog previously, San Marino's luxury price point starts around $3 million. A luxury home buyer in San Marino can expect an estate with a minimum of:
- 5 or more bedrooms with more than 5,000 sq. ft.
- An estate on a large lot
- A pool and a spa
- A guest house
- Location North of Huntington Drive
- Gourmet kitchen
1. 950 Roxbury Road in San Marino - Asking Price $3,650,000
This is a really lovely English Tudor situated on almost 2/3 of an acre. This home is 5 bedrooms and 5 baths with over 5,300 sq. ft. I loved the floor plan and felt there was quite a bit of light coming into the home for a Tudor. The grounds were absolutely beautiful with a rose garden, outdoor entertaining area, a 50 foot pool and a very charming guest house. This estate was nicely updated and has a three car garage. A couple of drawbacks included its location - South of Huntington Drive and close to Alhambra and this was by far the grandest home on Roxbury Road. $677 per sq. ft. seemed a bit high for the San Marino market right now. September San Marino home sales closed at $625/sq. ft. on average.
2. 660 Lombardy Place, San Marino - Asking Price $3,650,000
A Monterey Colonial Revival built by famed architects, Marston, Van Pelt and Maybury in 1927. This luxury home has 6 bedrooms and 7 baths with over 5,400 sq. ft. and sits on over 25,000 sq. ft. lot. This San Marino home has a guest house and a 4-car garage, a salt water pool and spa. This hoem exhudes tranquility and peace. It's priced at $621 per sq. ft. This San Marino home is located North of Huntington Drive, but only 1 block away from San Gabriel Blvd.
Posted by Irina Netchaev, Real Estate Agent