2022 Mathews Ave, Redondo Beach, CA 90278

2022 Mathews Ave, Redondo Beach, CA 90278

Redondo Beach, CA

Property Description

Introducing 2022 Mathews Ave, boasting four 2-bedroom 1-bath units. These units benefit from a fantastic North Redondo location with local shops and restaurants close by. All units include 1 off-street parking space and in unit washer & dryers. Recent renovations include but are not limited to, a full copper plumbing upgrade, interior renovations in 3 of 4 units, minor roof touch ups, a recently installed privacy fence and paint job. This property is being delivered at 3.35% CAP and 20 GRM with 25% upside in current rents. All units are currently occupied, 3 of 4 on annual leases, 1 on month to month, all tenants are current on rents. Eligible for attractive residential financing! Ask the listing agent about a 40 year fixed loan option at roughly 3.75% up to 80% LTV, first 10-years fixed interest only then rolls to a 30-year amortized loan with no rate adjustment.

Property Features

  • Sale Price: $2,200,000
  • Area Size: 4,092 SF
  • Year Built: 1930
  • Listing Date: October 26, 2021
  • Closing Date: February 1, 2022
  • Units: 4
  • Current GRM: 20.04
  • Current Cap Rate: 3.35%
  • Price Per Unit: $550,000
  • Market GRM: 16.08
  • Market Cap Rate: 4.54%

Lyon Stahl Investment Real Estate

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