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Listed by Shane Young • Younglewin Advisors, Inc.
$ 16,900,000
Est. payment | /mo
0.73 Acres Lot
$ 16,900,000
Est. payment | /mo
0.73 Acres Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW25111723
Year Built 1964
Lot Size 0.727 Acres
Source California Regional MLS
Property Description
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 additi
Location
State CA
County Los Angeles
Area 151 - N Redondo Bch/Villas North
Interior
Heating Wall Furnace
Laundry Laundry Area, Washer/Dryer - Owned
Exterior
Parking Features Storage - RV, Assigned Spaces, Covered Parking, Private / Exclusive, Other
Garage Spaces 41.0
Pool Pool - Heated, Pool - Yes
Roof Type Flat / Low Pitch
Building
Story Three or More Stories
Water District - Public
Others
Tax ID 4155004033
Special Listing Condition Not Applicable
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Ben Dodge
REALTOR® | Lic# DRE 01959374