2600 Mathews Ave | 2600 Mathews Ave
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2600 Mathews Ave 2600 Mathews Ave
7 Unit Apartment Building $3,500,000 ($500,000/Unit) 4.63% Cap Rate Redondo Beach, CA 90278
Investment Highlights
- Updated Units
Executive Summary
Welcome to 2600 Mathews Avenue, a remodeled 7-unit property in the heart of Redondo Beach. This stunning renovated building offers a mix of modern and stylish living spaces, featuring one 3-bedroom/1-bath unit, two 2-bedroom/1-bath units, one 2-bedroom +den/1-bath unit and three 1-bedroom/1-bath units. Each unit boasts contemporary kitchens equipped with white "slow-close" shaker cabinets, sleek quartz countertops, designer tiled backsplashes, and stainless-steel appliances. The bathrooms are equally impressive, featuring new modern-themed vanities, designer tiled shower enclosures, lighted mirrors, and other high-end finishes. New hardwood luxury vinyl flooring spans throughout each unit, enhancing the clean and sophisticated feel. Additionally, all units have been updated with new windows, doors, and exterior lighting, ensuring energy efficiency and security. Each unit has interior laundry. Residents will appreciate the ample onsite shared garage parking with brand-new electric doors, as well as the outdoor patio area beautifully framed by lush planter boxes. Each unit is individually metered for gas and electricity, providing convenience and autonomy. Don't miss the chance to own this exquisite turnkey property in one of Redondo Beach's most desirable neighborhoods.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$246,000
|
$32.82
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$7,380
|
$0.98
|
| Effective Gross Income |
$238,620
|
$31.83
|
| Taxes |
$41,629
|
$5.55
|
| Operating Expenses |
$35,060
|
$4.68
|
| Total Expenses |
$76,689
|
$10.23
|
| Net Operating Income |
$161,931
|
$21.60
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $246,000 |
| Annual Per SF | $32.82 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $7,380 |
| Annual Per SF | $0.98 |
| Effective Gross Income | |
|---|---|
| Annual | $238,620 |
| Annual Per SF | $31.83 |
| Taxes | |
|---|---|
| Annual | $41,629 |
| Annual Per SF | $5.55 |
| Operating Expenses | |
|---|---|
| Annual | $35,060 |
| Annual Per SF | $4.68 |
| Total Expenses | |
|---|---|
| Annual | $76,689 |
| Annual Per SF | $10.23 |
| Net Operating Income | |
|---|---|
| Annual | $161,931 |
| Annual Per SF | $21.60 |
Property Facts
| Price | $3,500,000 | Property Subtype | Apartment |
| Price Per Unit | $500,000 | Building Class | B |
| Sale Type | Investment | Building Size | 7,496 SF |
| Cap Rate | 4.63% | Average Occupancy | 100% |
| Gross Rent Multiplier | 14.23 | No. Stories | 1 |
| No. Units | 7 | Year Built | 1962 |
| Property Type | Multifamily | Parking Ratio | 0.93/1,000 SF |
| Price | $3,500,000 |
| Price Per Unit | $500,000 |
| Sale Type | Investment |
| Cap Rate | 4.63% |
| Gross Rent Multiplier | 14.23 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Building Size | 7,496 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1962 |
| Parking Ratio | 0.93/1,000 SF |
Amenities
- Smoke Detector
Unit Amenities
- Cable Ready
- Dishwasher
- Disposal
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Double Pane Windows
- Vinyl Flooring
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 1 | $3,400 | 1,100 |
| 2+1 | 3 | $3,125 | 795 - 950 |
| 1+1 | 3 | $2,375 | 720 - 750 |
1 of 1
Walk Score ®
Walker's Paradise (91)
Bike Score ®
Very Bikeable (80)
PROPERTY TAXES
| Parcel Number | 4153-021-013 | Total Assessment | $3,621,359 (2024) |
| Land Assessment | $2,144,403 (2024) | Annual Taxes | $41,629 ($5.55/SF) |
| Improvements Assessment | $1,476,956 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
4153-021-013
Land Assessment
$2,144,403 (2024)
Improvements Assessment
$1,476,956 (2024)
Total Assessment
$3,621,359 (2024)
Annual Taxes
$41,629 ($5.55/SF)
Tax Year
2023
-
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2600 Mathews Ave | 2600 Mathews Ave
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