Affordable Condos at Surfwood Monterey in Los Angeles
This is a market activity report for the Surfwood Monterey condominium complex in the Hermon area(part of zip code 90042) in the city of Los Angeles. I have written extensively of this development over the years as I believe it offers an exceptional 
value for those looking for affordable real estate. Affordable, of course, is a relative term.
The complex is located at 6140 Monterey Road and features 92 single level units. Each has two bedrooms and two baths in a variety of floor plans. High ceilings, interesting angled walls and niches, fireplaces, washer-dryer connections and good storage are just some of the interior features.
A lobby entry, three central courtyards, subterranean parking(two spaces per unit), a fitness center along with pool, spa and lounge area can be found at Surfwood Monterey. The area is adjacent to the city of South Pasadena and is just East of the Arroyo Seco Parkway(110) and fairly close to other freeways plus two Gold Line light rail stations.
There are currently two units for sale in Surfwood Monterey. Both are newly listed. Each has approximately 985 square feet. One overlooks one of the central courtyards and has a nice-sized patio and is listed for $379,000. The other faces the hillside and is offered at $389,000. So far in 2016, there have been four closed transactions reported in our multiple listing service(mls). These sales range from $375,000 to $434,000 with an average sales price of $400,375(median sales price $396,250). Each sold in excess of list price for an average 103.53%. The average price per square foot was $388.50 for the period.
There were five mls-reported closed sales in the first seven months of 2015. Those transactions ranged from $303,000 to $414,000 with an average price of $358,200(median $359,000).They sold at 101.47% of last list price and for $325.42 per square foot on average.
During the same January through July time period in 2014, there were also five sales. Those sales ranged from $225,000 to $296,500. So while prices have increased, Surfwood Monterey remains a viable affordable real estate opportunity in Los Angeles.
Relatively easy access to Downtown Los Angeles, the USC Health Science campus and other employment and education centers make Surfwood Monterey one of my top choices for affordable real estate. Whether for a first time homebuyer or a savvy investor, let me know if you would like to know more about this complex(or others) in greater detail. After all, real estate is really much more than just numbers. Let’s discuss what’s important to you.
I can be reached at 818.516.4393 cell
Published: August 1, 2016
Affordable Condos at Surfwood Monterey in Los Angeles
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