Excellent Location in No. Redondo Beach. 8 units. and 8 garage spaces. What an opportunity ! 4 units are 2 bedroom and 1 bath and 4 units are 1 bedroom 1 bath. Almost 6000 SF building, All units are large SF. Bonus Extra-large lot 9911 SF !. Average 1 bedroom rent $2040 per month and 2 bedroom rents for about $2500 per month. Currents rental income for 8 units total $17,913 per month or $214,956 yearly rent. Property listed for only 15.3 GRM & about 5 CAP !! Building has a common laundry room. Current owner has recently done many upgrades, such as, New asphalt driveway, New double pane security windows in all units-35 total windows, 5 New garage doors, New exterior paint, New drain lines under the building, new copper water supply lines under the building Etc. Units have been remodeled as they become vacant. Low maintenance Building. Close to Artesia Blvd. with all services, grocery store & Restaurants. Please do not talk to the tenants or disturb tenants. Submit offers ‘Subject to interior inspection’. This is an excellent opportunity with great rental location, Large Lot & Building Square Footage, good income, low expenses, low maintenance and great tenants. An ideal scenario for the landlord/owner to purchase and manage.
Property Details
Price:
$3,299,000
MLS #:
IN25067459
Status:
Active
Baths:
0
Address:
2516 Mathews Avenue
Type:
Residential Income
Subtype:
Apartment
Neighborhood:
151nredondobchvillasnorth
City:
Redondo Beach
Listed Date:
Mar 27, 2025
State:
CA
ZIP:
90278
Lot Size:
9,911 sqft / 0.23 acres (approx)
Year Built:
1959
See this Listing
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Schools
Interior
Appliances
Free- Standing Range
Cooling
None
Fireplace Features
None
Flooring
Carpet, Tile, Wood
Heating
Wall Furnace
Window Features
Double Pane Windows
Exterior
Community Features
Biking, Park, Sidewalks, Suburban
Electric
Electricity – On Property
Fencing
Chain Link, Masonry, Wood
Foundation Details
Raised
Garage Spaces
8.00
Lot Features
Front Yard, Lot 6500-9999, Park Nearby
Parking Features
Assigned, Driveway, Asphalt, Garage, Garage – Single Door
Parking Spots
8.00
Pool Features
None
Roof
Composition
Sewer
Public Sewer
Stories Total
2
Water Source
Public
Financial
Tenant Pays
Cable T V, Electricity, Gas
Utilities
Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Map
Community
- Address2516 Mathews Avenue Redondo Beach CA
- Area151 – N Redondo Bch/Villas North
- CityRedondo Beach
- CountyLos Angeles
- Zip Code90278
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2516 Mathews Avenue
Redondo Beach, CA
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