USACARedlands32 N San Mateo St
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32 N San Mateo St, Redlands, CA

House

Pending

Listed price in listed location currency (USD).
$1,350,000

955

MLS® 26669797

  • Key Facts
  • Description
  • Map

Key Facts

Type 
Levels Residential Income
Size 3990 sqft
Garage 
Taxes 
Lot Size 
Approx. Age 
Avg. Price Per Sqft $338
MLS® Number 26669797

Property Address: 32 N San Mateo St, Redlands, CA, 92373-4463

Average square foot calculated using Size range provided by listing agent.

Description

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.
MLS® Number26669797
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age
Basement
DrivewayCarport
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

-End Date
-Sold Price

Pending

Mar 26, 2026List Date
$1,350,000List Price
  • Commute

Commute

Starting Address
Destination Address
32 N San Mateo St, Redlands, CA

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