32 N San Mateo ST, Redlands, CA 92373
32 N San Mateo ST, Redlands, CA 92373
32 N San Mateo ST, Redlands, CA 92373
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Ernie Caponera

Ernie Caponera

+1(714) 606-0926
$1,350,000
Est. payment /mo
9 Beds
5 Baths
3,990 SqFt
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Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 3,990 sqft

Price per Sqft $338

MLS Listing ID 26669797

Bedrooms 9

HOA Y/N No

Lot Size 0.335 Acres

Property Description

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.

Location

State CA

County San Bernardino

Area 268 - Redlands

Interior

Heating Wall Furnace

Fireplace No

Appliance Dryer, Washer

Exterior

Parking Features Carport

Carport Spaces 5

Pool Fenced

Total Parking Spaces 5

Building

Story 2

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 0171402400000

Special Listing Condition Standard

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Listed by Tyler Brand Exp Commercial of California, Inc. #02214185

Nearby Locations

Ernie Caponera

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(714) 606-0926

ernie@newport-properties.com

2747 E COAST HWY Unit 200, CORONA DEL MAR, California, 92625, USA

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