NOT LISTED FOR SALE

Estimated Value: $1,988,000 - $2,814,000

8 Beds
4 Baths
3,500 Sq Ft
$714/Sq Ft Est. Value

Last Sold March 24, 2020

Last sale price $1,985,000 $567 Per Sq Ft

Est. 26% increase in value since last sale

Current estimated payment $15,989/month

21 Days on Market

About This Home

As of March 2020

Best Priced 4 Unit in Redondo Beach! 3 out of 4 units can be raised 8.3% upon acquisition! Located at 2408 Mathews Avenue, the property is walking distance to many retail options and very close to the South Bay Galleria. The subject property features a highly desirable mix of four two-bedroom/one-bath units. All the units feature in-unit washer/dryer hookups and private yards. The property has 4 garage spaces and 4 open spaces and is individually metered for gas and electricity.The subject property allows an investor to acquire a rare apartment building in one of the best rental markets in Los Angeles.

Last Agent to Sell the Property

John Katnik

BRC Advisors- BH License #02002695 Listed on: 01/23/2020

BRC Advisors- BH

Last Buyer's Agent

Michael Wright

License #01377035

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $24,748

Year Built

  • Built in 1963

Lot Details

  • 7,505 Sq Ft Lot

Parking

  • 8 Parking Spaces

Interior Spaces

  • 3,500 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 4 Bathrooms

Community Details

  • 4 Units

Listing and Financial Details

  • Assessor Parcel Number 4153-005-008

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$24,748

Year Built

Built in 1963

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 3500
  • Stories: 2
  • Year Built: 1963
  • Number Of Photos: 5
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 8
  • Dining Room: 0
  • Family Room: 0
  • Total Bathrooms: 4.00
  • Den: 0
  • Price Per S Q F T: 600.00

Exterior Features

  • Other Structures: None
  • Tennis Court Y/N: No
  • Pool: No

Garage/Parking

  • Parking Garage: Garage - 4+ Car
  • Total Parking: 8

Lot Info

  • Assessed Improvement Value: 425166
  • Assessed Land Value: 590381
  • Assessor Parcel Number: 4153-005-008
  • Geocode Override: No
  • Lot Size Area: 7505

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109
  • Gross Rent Multiplier: 18.88
  • Number Of Units: 4
  • Total Annual Expense: 33281
  • Type Of Units: 4
  • Vacancy Rate: 0%

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 23, 2020
Closed on
Mar 12, 2020
Sold by
Isley Paul T and Isley Elizabeth
Bought by
The Third M Llc
Seller's Agent
John Katnik
BRC Advisors- BH
Buyer's Agent
Michael Wright
List Price
$2,100,000
Sold Price
$1,985,000
Premium/Discount to List
-$115,000
-5.48%
Current Estimated Value
$2,500,028

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$515,028
Avg. Annual Appreciation
4.34%
Original Mortgage
$1,300,000
Outstanding Balance
$1,155,744
Interest Rate
3.12%
Mortgage Type
Adjustable Rate Mortgage/ARM
Estimated Equity
$1,326,904

Purchase Details

Closed on
Oct 29, 2013
Sold by
Isley Paul T and Isley Paul T
Bought by
Isley Paul T and Isley Elizabeth

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$550,000
Interest Rate
4.17%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jul 13, 2012
Closed on
Oct 24, 2012
Sold by
Isley Elizabeth Ann
Bought by
Isley Paul T
Seller's Agent
Ralph Lombardi
South Bay Property Management, Inc.
Buyer's Agent
Stephen Lampe
Re/Max Commercial & Investment
List Price
$950,000
Sold Price
$955,000
Premium/Discount to List
$5,000
0.53%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.88%
Original Mortgage
$150,000
Interest Rate
3.35%
Mortgage Type
Seller Take Back

Purchase Details

Listed on
Jul 13, 2012
Closed on
Oct 16, 2012
Sold by
Saul James E and Saul Elizabeth L
Bought by
Isley Paul T and Isley Paul T
Seller's Agent
Ralph Lombardi
South Bay Property Management, Inc.
Buyer's Agent
Stephen Lampe
Re/Max Commercial & Investment
List Price
$950,000
Sold Price
$955,000
Premium/Discount to List
$5,000
0.53%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$150,000
Interest Rate
3.35%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Apr 22, 1999
Sold by
Saul James E and Saul Elizabeth L
Bought by
James Edward and James Elizabeth Lou
Source: Public Records

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Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
The Third M Llc $1,985,000 North American Title
Isley Paul T -- Wfg Title Company
Isley Paul T -- None Available
Isley Paul T $955,000 Old Republic Title Co
James Edward -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open The Third M Llc $1,300,000
Previous Owner Isley Paul T $550,000
Previous Owner Isley Paul T $150,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/24/2020 03/24/20 Sold $1,985,000 -5.5% $567 / Sq Ft
02/13/2020 02/13/20 Pending -- -- --
01/23/2020 01/23/20 For Sale $2,100,000 +119.9% $600 / Sq Ft
11/21/2012 11/21/12 Sold $955,000 +0.5% $273 / Sq Ft
10/05/2012 10/05/12 Pending -- -- --
07/13/2012 07/13/12 For Sale $950,000 -- $271 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $24,748 $2,128,317 $1,393,861 $734,456
2023 $24,291 $2,086,586 $1,366,531 $720,055
2022 $23,966 $2,045,674 $1,339,737 $705,937
2021 $23,399 $2,005,564 $1,313,468 $692,096
2020 $13,349 $1,077,703 $626,515 $451,188
2019 $13,082 $1,056,573 $614,231 $442,342
2018 $12,693 $1,035,857 $602,188 $433,669
2016 $12,282 $995,635 $578,805 $416,830
2015 $12,058 $980,680 $570,111 $410,569
2014 $11,915 $961,471 $558,944 $402,527
Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 20-546808

The MLS

APN: 4153-005-008