Los Angeles 90042 Affordable Condos at Surfwood Monterey in Hermon
This is a real estate market update for the Surfwood Monterey condominium complex located at 6140 Monterey Road in the Hermon area within the city of Los Angeles(zip code 90042). This is a recap of sales year-to-date in 2015 with a comparison to full year 2014. All statistical information in this report has been gathered from our local multiple listing service(mls).
Surfwood Monterey is a 92 unit condominium complex consisting of two bedroom/two bath single level units built in 1990. There is a lobby entrance, two elevators, pool, spa, lounge area and fitness center. Parking is subterranean. The three courtyard areas within the complex which give the complex a more open feeling than the typical condo community. Surfwood Monterey is a very affordable option by Los Angeles real estate standards.
The units range in size from just under 1000 to almost 1200 square feet(approximately) and feature high ceilings, fireplaces(some units have two), in-unit laundry connections and either a balcony or patio space. Many of the top floor units have taller ceilings as well as clerestory windows. Unique angled walls and architectural niches are another feature of the units.
The Northeast Los Angeles(NELA) location is quite convenient even though the Hermon community is definitely under the radar when it comes to awareness. It offers easy access to the Arroyo Seco Parkway(110) as well as other freeways plus it is convenient to USC Health Science Campus and Downtown Los Angeles, Pasadena and the San Gabriel Valley plus the San Fernando Valley and even Los Angeles’ Westside.
There are no Surfwood Monterey condos currently on the market for sale or in escrow. Sales have been good in 2015 with eight mls-reported closed transactions. The sales ranged from $303,000 to $414,000 with an average price of $363,875(median sales price $364,500). They have sold at 101.68% of last list price for $329.69 per square foot on average.
Full year 2014 reflected four mls-reported closed transactions ranging from $290,000 to $340,000 with an average sales price of $305,500(median sales price $296,000). They sold at an average 97.92% of last list price and for $296.08 per square foot.
The increase in sales price is an indication of an improving market and less distressed sales while the complex remains an excellent market value in the competitive and pricey Los Angeles real estate market.
If you would like to know more about Surfwood Monterey or any NELA real estate whether you are a prospective buyer or seller contact me at 818.516.4393 cell.
Published: December 1, 2015
Los Angeles 90042 Affordable Condos at Surfwood Monterey in Hermon
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