Address not disclosed, Redondo Beach, California, 90278
$16,900,000
Multi-family
We are proud to present Westview Apartments, a rare 41-unit multifamily property in prime Redondo Beach, available for the first time in over 50 years. Located in a low-density submarket bordering Manhattan Beach, this offering is one of only two 40+ unit apartment buildings to hit the market in the last 15 years. Priced at an attractive 4.17% Cap Rate with 54% upside in net operating income (NOI), Westview Apartments presents an exceptionally rare value-add opportunity. Market Cap Rate of 6.47% and Market GRM of 11.08! 2700 Aviation Blvd consists of two separate well-maintained buildings, and a unit mix of 19 two-bedroom units, 20 one-bedroom units, and 2 three-bedroom units. This property drives strong rental demand due to its proximity to acclaimed Beach City school districts and top tier amenities, while offering renters a cost-effective alternative to the high homeownership costs in Redondo Beach and Manhattan Beach. The property features a newer roof, upgraded plumbing, an oversized 0.73-acre lot with 41 assigned parking spaces, a heated pool, two owner-operated laundry facilities, and spacious floor plans with select units boasting balconies, fireplaces, townhome layouts, and walk-in closets. Westview Apartments offer significant revenue potential through the addition of up to 10 accessory dwelling units (ADUs), monetization of storage and parking, and implementation of a RUBS utility bill-back system. Its prime location, near major employers and retail along Rosecrans and Artesia Boulevards, and a short drive from PCH, I-405, and I-91 freeways, ensures tenant conven
Number of Units : 41
Unit 1 : Number of Unit(s) : 1
Unit 1 : Total Bedrooms : 2
Unit 1 : Total Bathrooms : 1
Unit 2 : Number of Unit(s) : 2
Unit 2 : Total Bedrooms : 1
Unit 2 : Total Bathrooms : 1
Unit 3 : Number of Unit(s) : 3
Unit 3 : Total Bedrooms : 2
Unit 3 : Total Bathrooms : 2
Unit 4 : Number of Unit(s) : 4
Unit 4 : Total Bedrooms : 3
Unit 4 : Total Bathrooms : 2
Parking Garage Unit 1 : Assigned
Site : Corner Lot,Curbs,Sidewalks
Roof : Rock/Gravel
Pool : Private
Miscellaneous : Value in Land
Zoning : Assessor
Street Address: Address not disclosed
City: Redondo Beach
State: California
Postal Code: 90278
County: Los Angeles
MLS Number: PW25111723
Courtesy of Younglewin Advisors, Inc.
Courtesy of Douglas Elliman of California, Inc.
