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About the Listing CLW-X83131 - CLW-C145417
eXp is pleased to present the opportunity to acquire 32 N San Mateo Street, a 5-unit value-add multifamily asset located in the highly desirable South Redlands submarket of the Inland Empire.Built in 1963, the property consists of (4) 2-bedroom / 1.5-bath units and (1) 1-bedroom / 1-bath unit totaling approximately 3,990 square feet on a spacious 14,600 square foot lot. The asset is offered at $1,350,000, representing $270,000 per unit and $338/SF, providing an attractive basis relative to recent comparable sales. At stabilized rents, the property is projected to achieve approximately $10,625/month in gross income and a 6.16% market cap rate.Recent capital improvements completed between 20222024 include upgrades to the driveway, exterior stairs, deck, pool filter, and laundry room electrical. The property also features on-site laundry (owned machines), a swimming pool, and ample parking, minimizing near-term capital expenditures while supporting tenant retention and rent growth.Strategically located near Interstate 10 and 215 freeways, the property benefits from strong connectivity to major Inland Empire employment hubs. It is minutes from Ontario International Airport, University of Redlands, and Loma Linda University Medical Centerkey demand drivers for workforce housing.With strong submarket fundamentals, low vacancy, and continued population growth, 32 N San Mateo Street presents investors with a compelling opportunity to acquire a well-located asset with both in-place cash flow and meaningful upside potential.
Listing Highlights
Status
Active
Days on Site
7
Property Type
Multi-Family
MLS ®
26669797
Year Built
Total Square Footage
3,990
Lot/Acreage
0.34
County
San Bernardino
Area
268 - Redlands
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances: Dryer, Washer
- Air Cond:
- Heating: Wall Furnace
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 5
- Roof:
- Others: 2+ Total Units
- Sewer:
- Parking Features: Carport
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 0171402400000
- Tax Year: N/A
Payment Calculator
Monthly Payment
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- in Taxes
Years
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Questions About..
32 N San Mateo St Redlands, CA 92373
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