Surfwood Monterey Condos at
6140 Monterey Road Los Angeles 90042
This is a real estate market activity report for the Surfwood Monterey condominium complex in the Hermon area of Los Angeles 90042. In this report I will share information regarding units in sale, in escrow and sold in 
2016 with a sales comparison to the last seven years. Statistical information has been gathered from our local multiple listing service(mls) and may not include all transactions in the complex.
Surfwood Monterey is a 92 unit condominium complex built in 1989. Its location at 6140 Monterey Road is near Avenue 60 and is just east of Arroyo Seco Parkway(110) and adjacent to the city of South Pasadena. The 92 unit complex consists of two bedroom, two bath units in a variety of floor plans which range in size from just under 1000 to nearly 1200 square feet. Features of the condos include: fireplaces, tall ceilings, in-unit laundry connections and either a balcony or patio area. The angled walls and niches found in the some of the units makes these condos a bit more interesting than what typically can be found in this price range. Additionally, many of the upper floor units have even taller ceilings along with clerestory windows.
Common areas include a lobby entrance, two elevators, a pool, spa, lounge area as well as a fitness center. There are courtyards in the complex which gives Surfwood Monterey a more open feeling than many other condo communities. Parking is gated on the ground level.
Hermon is a community within the city of Los Angeles and while highly convenient it is definitely a bit under the radar even though its historical roots date back to 1903. This is a benefit in my opinion as the market values in the area are some of the most affordable in Los Angeles. The community is conveniently located between Downtown Los Angeles and the city of Pasadena with access to multiple freeways, the USC Health Science Campus, abundant shopping, dining, entertainment, recreation and cultural venues.
There are currently two Surfwood Monterey condos for sale. One is a split bedroom floor plan(bedroom suites separated by the living areas of the unit) with approximately 958 square feet priced at $379,000. The other is a new listing unit with approximately 1003 square feet. It is a street facing unit with some updates(first time open is this weekend). It is priced at $408,800. There are no units currently in escrow.
Sales in 2016 were quite active with nine mls-reported closed sales. These closed transactions range from $375,000 to $434,000 with an average sales price of $400,211(median sales price $409,400). Seven of the nine sold at or above last list price for an average 102.39%. The average price per square foot was $389.82 for the year.
Sales were also good in 2015 with eight reported closed transactions for the year. The sales ranged from $303,000 to $414,000 with an average price of $363,875(median $364,500). They sold at 101.68% of last list price and $329.69 per square foot on average.
In full year 2014, there were 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.
In 2012, there were also eight mls-reported transactions. The sales ranged from $200,000 to $230,000 with an average sales price of $219,750(median $225,000). They sold at 101.51% of last list price and for $203.97 per square foot on average.
2011 reflected seven mls-reported sales ranging from $170,199 to $262,000 with an average price of $211,314(median $210,000). They sold at 93.54% of last list price and for $203.19 per square foot on average.
In 2010, there were just two sales. Both short sales, they sold for $250,000 and $255,000(both over list price).
So while prices have increased, Surfwood Monterey remains a viable alternative to some of the more expensive areas of Los Angeles. Whether you are a prospective buyer or a property owner thinking of selling, let’s discuss what is important to you. And when that moment occurs I will review more detailed information about the current market by sharing the nuances in this or any other property that make a difference in the marketing of your home or your potential purchase. Interested in learning more? I can be reached at 818.516.4393 cell. Happy New Year!
Published: January 3, 2017
Surfwood Monterey Condos at
6140 Monterey Road Los Angeles 90042
Comments(13)