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Listed by Shane Young • Younglewin Advisors, Inc.
$16,900,000
Est. payment /mo
31,147 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 31,147 sqft
Price per Sqft $542
MLS Listing ID CRPW25111723
HOA Y/N No
Year Built 1964
Lot Size 0.727 Acres
Property Sub-Type Other
Source Datashare California Regional
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 addition of u
Location
State CA
County Los Angeles
Interior
Heating Wall Furnace
Flooring Tile, Vinyl, Carpet
Fireplace No
Laundry Other
Building
Lot Description Corner Lot, Other
Water Public
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