2600 Mathews Avenue

    Redondo Beach, CA 90278
    • $2,400,000
    • STATUS: Active
    • ON SITE: 39 days
    • ID#: SB18248144
    UPDATED: 46 min ago
    $2,400,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 6,120
      SQFT
    • $392
      $/SQFT
    Type:
    Multi-Family
    Built:
    1962
    County:

    School Ratings & Info

    Description

    Rare 7 unit building in Redondo Beach where the rental market is very strong. Within a few minutes from the beach, surrounded by shoppes and restaurants, this is a highly desirable area in South Bay. Just a few Miles from Silicon Beach where the growth potential is unlimited. Equipped with a separate meter for gas and electric for all 7 units, including one car garage per unit. Most tenants are long-term stable tenants with month-to-month lease. Great buy and hold steady cash flow. HUGE unrealized upside rent 30% below market, possible future update and or aesthetic improvement to significantly increase property value. Zone RBR-3 (apartment house 5+unit)

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-20T08:28:17.697. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.fredsedgroup.com/homes/88420115

    2600 Mathews Avenue Redondo Beach, CA 90278

    • Price: $2,400,000
    • Status: Active
    • Updated: 46 min ago
    • ID#: SB18248144
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    6,120
    SQFT
    $392
    $/SQFT
    1962
    Built
    Neighborhood:
    153 - N Redondo Bch/El Nido
    County:
    Los Angeles
    Area:
    153 - N Redondo Bch/El Nido
    Property Description
    Rare 7 unit building in Redondo Beach where the rental market is very strong. Within a few minutes from the beach, surrounded by shoppes and restaurants, this is a highly desirable area in South Bay. Just a few Miles from Silicon Beach where the growth potential is unlimited. Equipped with a separate meter for gas and electric for all 7 units, including one car garage per unit. Most tenants are long-term stable tenants with month-to-month lease. Great buy and hold steady cash flow. HUGE unrealized upside rent 30% below market, possible future update and or aesthetic improvement to significantly increase property value. Zone RBR-3 (apartment house 5+unit)
    Exterior Features

    Garage Spaces 7.00 Lot Features 36-40 Units/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Features AssignedCarport Attached Parking Total 7.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area 700 Average1 Bed Area Units Square Feet Average2 Bed Area 900 Average2 Bed Area Units Square Feet Average3 Bed Area 1200 Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling None Cooling YN No Fireplace Features None Fireplace YN No Flooring Laminate Heating Wall HeaterNatural Gas Heating YN Yes Laundry Features None Levels Two

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 3.33 Community Features Curbs Country Us Electric Electricity - On Property Electric Expense 600.00 Elevation Units Feet Fuel Expense 900.00 Gross Income 123600.00 Gross Multiplier 19.68 Gross Scheduled Income 123600.00 Insurance Expense 4200.00 Land Lease YN No Laundry YN No Net Operating Income 81360.00 New Construction YN No New Taxes Expense 28800.00 Number Of Separate Electric Meters 8 Number Of Separate Gas Meters 8 Number Of Separate Water Meters 1 Operating Expense 41700.00 Pest Control Expense 1416.00 Professional Management Expense 1560.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Expenses 41700.00 Trash Expense 1440.00 Utilities Cable AvailableElectricity AvailableNatural Gas Available Water Sewer Expense 4200.00 Water Source Public Year Built Source Assessor Zoning Rbr-3

    Listing provided courtesy of George Wang of Harvest Realtors, Inc..


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-20T08:28:17.697. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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