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Scott Greenspan

Greenspan Realty

sgreenspan@greenspanrealty.net +1(310) 936-7270

$ 1,799,000

Est. payment | -/mo

7,496 Sqft Lot

Save

$ 1,799,000

Est. payment | -/mo

Save

7,496 Sqft Lot

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active Under Contract

Purchase Type For Sale

MLS Listing ID SB26075064

HOA Y/N No

Year Built 1957

Lot Size 7,496 Sqft

Lot Dimensions Assessor

Property Sub-Type Apartment

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 Entertainment Options. This Exceptionally Priced Property Presents a Compelling Opportunity as a Reliable and Attractive Investment for the First Time Income Property Buyer or the Seasoned Investor Adding to their Portfolio. PLEASE DO NOT DISTURB THE TENANTS OR ENTER THE PROPERTY

Where Can You Find A 6-Unit Property At This Price In The Beach Cities - Right Here At 2202 Mathews Ave. - This is Priced to Sell — Don't Wait.

Location

State CA

County Los Angeles

Area 151 - N Redondo Bch/Villas North

Zoning RBR-3

Interior

Heating Natural Gas, Wall Furnace

Cooling None

Fireplaces Type None

Fireplace No

Laundry Laundry Room, See Remarks

Exterior

Parking Features Driveway, Garage, On Site, Paved

Garage Spaces 6.0

Garage Description 6.0

Fence Good Condition

Pool None

Community Features Curbs, Street Lights, Sidewalks

Utilities Available Cable Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

View Y/N No

View None

Accessibility None

Total Parking Spaces 6

Private Pool No

Building

Lot Description Front Yard, Lawn, Near Public Transit, Rectangular Lot, Sprinklers Timer, Sprinkler System, Street Level

Faces North

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Architectural Style Contemporary, See Remarks

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 4155032016

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Jonathan Coleman Beach City Brokers 310-991-0929, DRE #00808758

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

Scott Greenspan

Broker Owner

+1(310) 363-0606

info@greenspanrealty.net

Rancho Palos Verdes, CA, 90275, USA

2202 Mathews Redondo Beach, CA 90278

Scott Greenspan

Key Details

Location

Interior

Exterior

Building

Others

Nearby Locations

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2202 Mathews