32 N San Mateo St, Redlands, CA 92373

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...