2204 Mathews Avenue
Redondo Beach, CA 90278
- – beds
- – baths
- – sqft
- 7,471 sqft lot
- 1958 build
- – on site
2204 Mathews Ave is a well-positioned 6-unit apartment building in the desirable North Redondo Beach neighborhood, just north of Artesia Blvd. Offering a strong unit mix of (6) 2-bed/1-bath units, the property provides spacious layouts and modern appeal, with two of the units recently remodeled. This value-add opportunity allows investors to capitalize on significant rental growth while benefiting from a well-maintained asset. The property offers ample parking with (3) 2-car garages and (6) driveway spaces, a highly sought-after feature in this vibrant beachside community. Additionally, the garages present a potential ADU conversion opportunity (buyer to verify), allowing for further income generation. With a 4.06% CAP rate, 15.25 GRM, and a price of $400,000 per unit, this asset delivers strong in-place income with 37% rental upside, allowing for substantial returns as rents are brought to market levels. A projected 6.43% market CAP and 11.11 market GRM further highlight the long-term value this property presents. Well-located in North Redondo, this property is just 10 minutes from the Manhattan Beach Pier, Hermosa Beach Pier, Redondo Performing Arts Center, and Mira Costa High School, providing tenants with access to top-rated schools, beaches, entertainment, and shopping. With its coastal proximity, strong appreciation potential, and value-add upside, this is an excellent investment opportunity in one of LA’s most in-demand rental markets.
Last checked:
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Last updated Mar 17, 2025
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MLS# SB25058235 —
The Building
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Year Built:1958
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Year Built Source:Assessor
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New Construction:No
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Building Area Total:4125.00
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Building Area Units:Square Feet
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Total Number Of Units:6
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# of Buildings:1
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Stories Total:2
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Entry Level:1
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Common Walls:2+ Common Walls
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# of Separate Gas Meters:7
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# of Separate Water Meters:1
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# of Separate Electric Meters:7
Interior
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Entry Location:1
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Laundry:Common Area
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Laundry:1
Location
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Directions:3 Parcels from the corner of Mathews ave and Ridnge Ln
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Latitude:33.87353900
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Longitude:-118.37224300
The Property
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Property Type:Residential Income
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Subtype:Commercial/Residential
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Zoning:RBR-3
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Lot Features:6-10 Units/Acre
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Lot Size Area:7471.0000
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Lot Size Acres:0.1715
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Lot Size SqFt:7471.00
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Lot Size Source:Assessor
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Property Attached:1
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Additional Parcels:No
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Block:112
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Tax Census Tract:6205.22
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Tax Tract:B
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Tax Lot:14
The Listing
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Special Listing Conditions:Standard
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Parcel Number:4155032015
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Showings Begin:2025-03-17
Utilities
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Sewer:Public Sewer
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Water Source:Public
The Community
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Features:Biking
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Pool:None
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Senior Community:No
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Private Pool:No
Parking
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Parking:Yes
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Parking:Garage
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Parking Spaces:12.00
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Garage Spaces:6.00
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Uncovered Spaces:6.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
3/17/25
Mar 17, 2025
|
Listed / Active | CRMLS_CA | $2,400,000 |