Affordable Los Angeles Condos
Surfwood Monterey 6140 Monterey Road
This is a market update on real estate activity at Surfwood Monterey condos for the first nine months of 2015 with a comparison to both the same period and full year in 2014. All statistical information in this report have been gathered from our local multiple listing service(mls) and may not include all transactions in the complex.
Located at 6140 Monterey Road, the complex offers a relatively affordable real estate option in the city of Los Angeles in the Hermon area(part of zip code 90042).
Although the setting is quite convenient with easy access to multiple freeways, it’s definitely a location that is under the radar. As part of NorthEast Los Angeles(NELA) the area is close to Downtown Los Angeles and the USC Health Science campus enhancing its appeal for savvy real estate investors as well as owner occupants.
Surfwood Monterey was built in 1989 and consists of 92 single level condominiums with two bedrooms and two baths in floor plans ranging from approximately 1000 to 1200 square feet.
Features found in the units include: high ceilings, fireplaces(some plans have two), in-unit laundry connections and either a balcony or patio. Interesting angled walls and niches along with higher ceilings and clerestory windows can be found in some plans.
Common areas in the complex include a lobby entrance, pool, spa, lounge area, fitness center and two elevators. Parking is subterranean. Three courtyards in the building give Surfwood Monterey a more open feeling than typically found in many area condominiums.
There is currently one Surfwood Monterey condo available for sale. Newly listed, the third floor unit has approximately 985 square feet and is priced very competitively at $319,900. There is an additional unit in escrow. So far in 2015, there have been six mls-reported closed transactions ranging in price from $303,000 to $414,000 with an average price of $360,167(median sales price $364,500). They have sold at 100.79% of last list price and for $323.58 per square foot on average.
During the same January through September time month period in 2014, there were four sales. Those sales ranged from $290,000 to $340,000.This was actually the total number of mls-reported transactions for the entire year. So while prices have increased, Surfwood Monterey remains a viable affordable real estate opportunity in Los Angeles.
Do you want to know more about Surfwood Monterey or other NELA real estate? Let’s discuss what’s important to you whether you are a prospective buyer or a property owner thinking of selling. I can be reached at 818.516.4393.
Published: October 1, 2015
Affordable Los Angeles Condos
Surfwood Monterey 6140 Monterey Road
Comments(16)