Have You Been Thinking About Selling Your
Surfwood Monterey Condo?
Maybe This Look At Real Estate Activity For The Los Angeles 90042 Condo Complex May Make You Wonder If This Is The Right Time To Consider Selling
This is a review of real estate market activity for the Surfwood Monterey condominium complex. The complex is located at 6140 Monterey Road in the Hermon neighborhood in the city of Los Angeles zip code 90042. This area is also known as Northeast Los Angeles(NELA) and offers a convenient location that is surprisingly under-the-radar when it comes to awareness.
In this report, I will share information regarding closed sales for the first eight months of 2017 along with a recap of results for the same time periods from the previous two years. The statistical information that is included has been gathered from our local multiple listing service(MLS) and may not include all transactions in the complex.
Surfwood Monterey consists of 92 single level floor plans with two bedrooms and two baths ranging in approximate size from just under 1000 to nearly 1200 square foot. Built in 1989, features of the units include: fireplaces, in unit laundry connections, balcony or patio areas, high ceilings and interesting angled walls. Some of the top floor units have even higher ceilings and clerestory windows.
Common area amenities in the complex include lobby entrance, two elevators, pool, spa, lounge area and fitness center. Parking is covered and located on the ground level. Three courtyards give Surfwood Monterey a more open appearance than is often found in some Los Angeles condo complexes.
As I mentioned earlier, the location is highly convenient yet remarkably unknown to many at the same time. While awareness of the area is growing, I think the value that can be found at Surfwood Monterey makes it a very viable and affordable Los Angeles real estate find. Multiple freeways and two Gold Line light rail stations are easily accessible making commuting to Downtown Los Angeles, the USC Health Science campus and both the West San Gabriel and East San Fernando valleys a lot handier. Two parks are located nearby too. Hermon Park which features an off-leash dog area, tennis courts and open space as well as Ernest Debs Regional Park with picnic area and an Audubon Center enhance the appeal of the area.
From January through August there have been four mls-reported closed transactions ranging from $379,000 to $435,000. The average list price stands at $410,750(median sales price: $414,500). Three of the four sold at or above last list price(number four was 99.8%) for an average 101.68% and a price per square foot of $399.85 per square foot. Currently, there are no units for sale or in escrow at Surfwood Monterey.
For the eight month period in 2016, there were also four sales ranging from $375,000 to $434,000 with an average of $400,375(median $396,250). Each sold above last list price for an average 103.53% and for $388.50 per square foot.
In the same time period in 2015, there were six sales reported. Those transactions ranged from $303,000 to $414,000 with an average of $360,167(median $364,500). They sold at 100.79% of last list price and for $323.58 per square foot on average.
As with any market report, a more in-depth and detailed analysis is necessary for a prospective buyer considering an offer strategy. The same is obviously true for a homeowner who may be thinking of placing their Surfwood Monterey condo on the market for sale. While dollars per square foot is relevant, there are other factors that need to be considered. Location within the complex, condition, updates(or the lack thereof), emotional appeal and timing are just a few of those factors.
Inventory of condos available for sale in Surfwood Monterey has been low this year and the high demand in the neighborhood could make this an ideal time for those who may have been thinking of selling. If you are an owner of a unit in this complex and you would like a FREE market analysis of your Surfwood Monterey condo, I can be reached at 818.516.4393 cell.
I know this complex and community well and can share how you can maximize your net proceeds should you be interested in selling. I look forward to hearing from you. Let’s discuss what is important to you.
Published: September 2, 2017
Have You Been Thinking About Selling Your Surfwood Monterey Condo?