Properties

2119 Mathews Avenue
Redondo Beach, California CA 90278-3048
$2,475,000 Price
Active Under Contract Status
4,375 SqFt
0.172 Acres
SB19169298 Listing ID
HIGHLY DESIRABLE North Redondo Beach residential income property FOR SALE. First time on the market since 1987, this 6-unit apartment building has a mix of all 2 bedrooms/1 bath. Due to the desirability of this location, the units are always leased. Recently upgraded with new exterior paint, new metal automatic garage doors, and 2 newly refurbished units. The property is centrally located along the Artesia corridor on a quiet street. Walk to shops, dining and the Post Office. Easy access to the 405 freeway, and a short bike ride or drive to the beach and Downtown Hermosa and Manhattan Beach. Adding value to the property, just to the East is the planned South Bay Galleria Improvement Project, a mixed-use redevelopment project that will add 217,000 sf of dining, entertainment and shops, along with a 150 room hotel, 300 apartment units and 6 acres of outdoor space. A new CVS and Grocery Outlet opened across the street. Award-winning Redondo Beach schools. Upside income potential. 4.94 CAP.
Schedule Showing
Status Active Under Contract
County Los Angeles
Year Built 1961
Price/SqFt $565.71
Property Type Residential Income
Residential Income

Primary Features

Cooling Type: None
County: Los Angeles
Heating Type: Wall Furnace
Interior Features: Unfurnished
Lot Features: 0-1 Unit/Acre
MLS Area Major: 151 - N Redondo Bch/Villas North
Special Listing Conditions: Standard
View Type: Neighborhood
Year Built: 1961
Zoning: RBR-3

Additional

Association: no
Community Features: Curbs, Sidewalks
Exclusions: Community dryer is owned and maintained by third party operator, Wash Tub
Land Lease: no
Laundry Equipment Own Lease: Lease
Laundry Features: Common Area, See Remarks, Washer Hookup
Laundry: yes
Lot Size Source: Assessor
Lot Size Units: Square Feet
Number Of Separate Electric Meters: 7
Number Of Separate Gas Meters: 6
Number Of Separate Water Meters: 1
Number Of Units Leased: 6
Number Of Units Total: 6
Number With Carpet: 6
Number With Disposal: 6
Number With Drapes: 6
Number With Range: 6
Number With Refrigerator: 1
Property Attached: yes
Property Condition: Updated/Remodeled
Senior Community: no
Tax Block: 100
Tax Lot: 22
Tax Tract Number: B
Tax Year: 2018
Utilities: Cable Available, Electricity Connected, Natural Gas Connected, See Remarks, Sewer Connected, Water Connected
Vacancy Allowance Rate: 3
Water Source: Public
Year Built Source: Assessor

Interior Features

Appliances: Built-In Range, Gas Oven, Gas Range, Gas Water Heater, Range Hood, Vented Exhaust Fan
Appliances: yes
Average 2 Bed Area: 700
Common Walls: 2+ Common Walls
Cooling: no
Fireplace Features: None
Fireplace: no
Flooring: Carpet, Tile, Vinyl
Garage Spaces: 6
Heating: yes
Levels: Two
Room Type: Kitchen, Living Room
Stories Total: 2

Financial Details

Cap Rate: 4.94
Electric Expense: 768
Gross Income: 148560
Gross Scheduled Income: 174000
Insurance Expense: 2600
Laundry Income: 1200
Net Operating Income: 122225
New Taxes Expense: 29948
Operating Expense: 16608
Other Income Description: pro forma garage rental income
Other Income 1: 3600
Pest Control Expense: 250
Price Per Unit: 412500
Professional Management Expense: 7200
Rent Control: no
Tenant Pays: Cable TV, Electricity, Gas
Total Actual Rent: 11825
Total Expenses: 46556
Trash Expense: 1536
Water Sewer Expense: 3240

External Features

Entry Location: Mathews
Fencing: Block
Foundation Details: Concrete Perimeter, Slab
Lot Size Area: 7492
Lot Size Dimensions: 50x150
Lot Size Square Feet: 7492
Number Of Buildings: 1
Parking Features: Assigned, Concrete, Garage - Two Door, Garage Door Opener, Shared Driveway, Street
Parking Total: 9
Pool Features: None
Private Pool: no
Sewer: Public Sewer
Uncovered Spaces: 3
View: yes

Location Information

Country: US

Zoning Info


Area Info


© 2019. The multiple listing data appearing on this website is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumer may be interested in purchasing. All data, including but not limited to all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Listing courtesy of Annette Davis from Vista Sotheby’s Realty . Last updated Monday, November 11th, 2019.
Based on information from CARETS as of Monday, November 11th, 2019 02:41:03 PM. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CARETS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Contact - Listing ID SB19169298

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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