2202 Mathews, Redondo Beach, CA 90278
- $1,800,000
- Sold Price
- $1,800,000
- List Price
- $1,799,000
- Closing Date
- May 28, 2026
- Status
- CLOSED
- MLS#
- SB26075064
- Year Built
- 1957
- Lot Size
- 7,496
- Acres
- 0.17
- Lot Location
- Front Yard, Lawn, Near Public Transit, Rectangular Lot, Sprinklers Timer, Sprinkler System, Street Level
- Days on Market
- 11
- Property Type
- Multifamily
- Style
- Contemporary, See Remarks
- Property Sub Type
- Apartment
- Stories
- Two Levels
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.
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Additional Information
- Pool Description
- None
- Heat
- Natural Gas, Wall Furnace
- Cooling Description
- None
- View
- None
- Garage Spaces Total
- 6
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 6
- Gross Scheduled Income
- $106,104
- Operating Expense
- 31831
Listing courtesy of Listing Agent: Jonathan Coleman (jonathancoleman1@aol.com) from Listing Office: Beach City Brokers.
Listing sold by Andrew Tseng from The Realestate Group
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.