2600 Mathews Avenue
Redondo Beach, California CA 90278-3334
$2,400,000 Price
6,120 SqFt
0.172 Acres
SB18248144 Listing ID
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)
Schedule Showing
Status Pending
County Los Angeles
Year Built 1962
Property Type Residential Income
Residential Income

Primary Features

Cooling Type: None
County: Los Angeles
Heating Type: Wall Heater, Natural Gas
Lot Features: 36-40 Units/Acre
MLS Area Major: 151 - N Redondo Bch/Villas North
Special Listing Conditions: Standard
Year Built: 1962
Zoning: RBR-3

Additional

Community Features: Curbs
Land Lease: no
Laundry Features: None
Laundry: no
Lot Size Source: Assessor
Lot Size Units: Square Feet
Number Of Separate Electric Meters: 8
Number Of Separate Gas Meters: 8
Number Of Separate Water Meters: 1
Number Of Units Total: 7
Property Attached: yes
Senior Community: no
Tax Lot: 12
Tax Tract Number: 2
Utilities: Cable Available, Electricity Available, Natural Gas Available
Water Source: Public
Year Built Source: Assessor

Interior Features

Average 1 Bed Area: 700
Average 2 Bed Area: 900
Average 3 Bed Area: 1200
Common Walls: 2+ Common Walls
Cooling: no
Fireplace Features: None
Fireplace: no
Flooring: Laminate
Garage Spaces: 7
Heating: yes
Levels: Two
Stories Total: 2

Financial Details

Cap Rate: 3.33
Electric Expense: 600
Fuel Expense: 900
Gross Income: 123600
Gross Multiplier: 19.68
Gross Scheduled Income: 123600
Insurance Expense: 4200
Net Operating Income: 81360
New Taxes Expense: 28800
Operating Expense: 41700
Pest Control Expense: 1416
Professional Management Expense: 1560
Rent Control: no
Total Expenses: 41700
Trash Expense: 1440
Water Sewer Expense: 4200

External Features

Lot Size Area: 7494
Lot Size Square Feet: 7494
Number Of Buildings: 1
Parking Features: Assigned, Carport Attached
Parking Total: 7
Parking: yes
Pool Features: None
Private Pool: no
Sewer: Public Sewer

Location Information

Country: US

Zoning Info


© 2019. The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by Multi-Regional Multiple Listing Service, Inc. ("MRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and MRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional. Listing courtesy of George Wang from Harvest Realtors, Inc. . Last updated Friday, January 18th, 2019.

Contact - Listing ID SB18248144

Alison Clay-Duboff

1040 Manhattan Beach Blvd
Manhattan Beach, CA 90266
Phone: 310-200-3037
Fax: 310-265-6050

Data services provided by IDX Broker
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