Los Angeles Affordable Condos at Surfwood Monterey 2016 Mid-Year Real Estate Market Activity Report
This is a real estate market activity report for the Surfwood Monterey condominium complex. These affordable Los Angeles condos are located in the Hermon area of the city(zip code 90042).
Hermon and other zip codes in 90042 are often collectively called NorthEast Los Angeles(NELA). This under-the-radar location is actually quite convenient.
Its 6140 Monterey Road address is just east of the Arroyo Seco Parkway(110) with easy access to multiple other freeways as well as two Gold Line light rail stations.
This certainly enhances commuting to Downtown Los Angeles, the USC Health Science Campus as well as both the San Gabriel and San Fernando valleys and even Los Angeles’ Westside.
Surfwood Monterey consists of 92 single level floor plans. Each has two bedrooms and two baths ranging in approximate size from just under 1000 to nearly 1200 
square feet. Built in 1989, the units feature: fireplaces, in unit laundry connections, balcony or patio areas, high ceilings and and interesting angled walls.
Common area amenities in the professionally managed complex include a lobby entrance, two elevators, pool, spa, lounge area and fitness center. Parking is on the ground level with two spaces per unit. Three landscaped courtyards give Surfwood Monterey a more open appearance than what you may find in other condominium complexes.
In this report I will share real estate data for the first six months of 2016 along with a comparison to the same period for the previous two years. All statistical information is from our local multiple listing service(mls) and may not reflect all transactions in the complex.
There are currently no Surfwood Monterey condos on the market. There is a top floor unit in escrow. So far in 2016, there have been three mls-reported closed transactions ranging from $375,000 to $410,000 with an average sales price of $389.167(median sales price $382,500). Each has sold above list price price for an average of 104.44%. The average price per square foot for the year so far stands at $395.09.
In the first half of 2015, there were four sales reported. They ranged from $303,000 to $414,000 with an average sales price of $351,500(median $344,500). They sold at 100.64% of last list price and for $325.01 per square foot on average.
For the first six months of 2014, there were also four closed sales. Those transactions ranged from $290,000 to $340,000 with an average sales price of $305,000 (median $296,000). They sold at 97.92% of last list price and for $296.08 per square foot.
While prices have steadily increased in recent years, Surfwood Monterey offers a relatively affordable real estate option for those looking to purchase in a convenient Los Angeles location.
If you would like to know more about Surfwood Monterey or any NorthEast Los Angeles area real estate whether you are thinking of selling or buying, I can be reached at 818.516.4393 cell. Let’s discuss what is important to you.
Published: July 1, 2016
Los Angeles Affordable Condos at Surfwood Monterey 2016 Mid-Year Real Estate Market Activity Report
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