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$ 1,799,000
Est. payment /mo
Active Under Contract
2202 Mathews Redondo Beach, CA 90278
4 Beds
4 Baths
7,496 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID SB26075064
Bedrooms 4
Lot Size 7,496 Sqft
Lot Dimensions 50' X 150'
Property Sub-Type Res Income 2-4 Units
Property Description
Welcome to 2202 Mathews Ave. This is an Exceptional Investment Opportunity in a Prime Desirable North Redondo Beach Location. This Well Maintained and Recently Improved and Upgraded Property features Six 1-Bedroom, 1 Bath Units, along with Six Enclosed Parking Spaces for each tenant, located within Three Double Garages at the rear of the building. The property also offers an Enclosed Grassy Front Yard, an Enclosed Central Yard, and a Separate Laundry Room with Seller Owned Equipment. The building encompasses 3,013 sq. ft. and is situated on a 7,496 sq. ft. 50 x 150 R-3 Zoned Lot. It includes Separate Electric and Gas Meters, with Utilities and Service (except for water paid by the tenants. The property has been Recently Upgraded with a New Roof, Exterior Paint, Electric Panels, Wall Heaters, Stairs and Balcony Railings, Vinyl Windows, and the Front Yard Fence. All units are occupied by Stable Long Term Tenants on month-to-month rental agreements, with rents recently increased. In addition to its current performance, with an estimated 4.13 Cap Rate and a 16.9 GRM, this Stabilized Asset Offers Long-Term Value and Upside Potential, including Attractive and Predictable Estimated 7% to 8% Annual Rent Increases. Ideally located in North Redondo, the property is Just Minutes from the Manhattan Beach Pier, Hermosa Beach Pier, Redondo Performing Arts Center, The Galleria Mall, Parks, Schools, and The 405 Freeway. It is also one block from The Grocery Outlet, Dollar Tree, CVS Pharmacy, and Public Transportation, with Close Proximity to a wide array of Shopping, Dining, and Entertainm
Location
State CA
County Los Angeles
Zoning Assessor
Direction Artesia to Rindge - One block North of Artesis make a right onto Mathews Ave.
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 4155032016
Acceptable Financing Cash
Listing Terms Cash
Listed by Jonathan Coleman, DRE#00808758 Beach City Brokers
Nearby Locations
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