32 N San Mateo Street

Redlands, CA 92373

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.

This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. The display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.