Would You Like A Free Market Analysis of Your Surfwood Monterey Condo?
What is Your Surfwood Monterey Condo in Los Angeles 90042 Worth Today?
Affordable Condos in Los Angeles Hermon Neighborhood
6140 Monterey Road Los Angeles 90042
Free Market Analysis Learn How Recent Sales Activity Are Impacting The Value of Your Los Angeles Condo
This is a real estate market activity report for the first eleven months of 2017 for the Surfwood Monterey condominium complex. This relatively affordable complex is located in the Hermon community in NorthEast Los Angeles(NELA) within the city of Los Angeles(zip code 90042). The address for the complex is 6140 Monterey Road. It is just east of Arroyo Seco Parkway(110) near Avenue 60 adjacent to the city of South Pasadena.
In this report I will share market activity for that period along with a comparison to January through November for the previous two years. The statistical information here has been gathered from our local multiple listing service(mls) and may not include all transactions in the complex.
Surfwood Monterey was built in 1989 and consists of 92 single level condos with two bedrooms and two baths in a variety of floor plans. The units feature tall ceilings, fireplaces, sliding glass doors opening to patios or balconies, in-unit laundry connections and rather abundant storage. Interesting angles and architectural niches give the interiors of the units a unique flair. Some upper floor units feature even taller ceilings and clerestory windows add to the interest making the units not so humdrum. Units range in approximate size from just under 1000 to nearly 1200 square feet of living.
There is a lobby entrance for the professionally managed complex along with two elevators, pool, spa, lounge area and fitness room. Parking is subterranean with two space per unit -- most are tandem so some coordination is necessary in making “morning” routines workable. There are three courtyards within the Surfwood Monterey landscaped grounds and the feeling is a bit more open than you will find in some other area complexes in this price range in my opinion.
The Northeast Los Angeles location is quite convenient despite the under-the-radar awareness of Hermon. In addition to the previously mentioned easy access to the Arroyo Seco Parkway, it is close to multiple other freeways as well as two Gold Line light rail stations(Highland Park and South Pasadena). I would say the location is, like much of Los Angeles, requires the use of a vehicle.
There have been four mls-reported sales in the first eleven months of 2017. The sales range in closed prices from $379,000 to $435,000 with an average and median sales price of $410,750. They sold at 101.68% of list price and for $399.85 per square foot on average.
While sales prices continue to increase, Surfwood Monterey, remains a relatively affordable real estate option for those looking for a Los Angeles condo in a convenient location. Obviously, this report is an overview and turnover of units in this complex reflect a trend in recent years. This was not the case several years ago when distressed sales(bank owned, short sales) were more commonly found in this complex and in the surrounding area..
When we meet we will need to consider different factors as an offer is crafted for a prospective buyer or in developing a marketing plan with the possible listing price for a property owner who is considering selling. I will share information regarding condition, updates(or lack thereof), location within the complex, emotional appeal and timing as part of the review process for any unit under consideration.
If you would like to know more about the relatively affordable Los Angeles condos at Surfwood Monterey or any NELA real estate contact me at 818.516.4393 direct. Whether you are a prospective buyer or a homeowner thinking of selling, let’s discuss what’s important to your real estate needs.
Published: December 4, 2017
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What is Your Surfwood Monterey Condo Worth Today?