2700 Aviation Boulevard Active Save Request In-Person Tour Request Virtual Tour
Redondo Beach,CA 90278
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 31,147 sqft
Price per Sqft $542
MLS Listing ID PW-25111723
Year Built 1964
Lot Size 0.727 Acres
Property Sub-Type Apartment
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 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 convenience without noise pollution. Don't miss this once in a lifetime opportunity to acquire a premier asset in the supply-constrained South Bay Beach Cities market. Contact Listing Agent for more details.
Location
State CA
County Los Angeles
Area 151 - N Redondobch/Villasnorth
Zoning RBR-3
Interior
Heating Wall Furnace
Flooring Carpet,Tile,Vinyl
Fireplaces Type Den
Laundry Common Area
Exterior
Exterior Feature Awning(s),Lighting
Parking Features Paved,Private,Assigned,Built-In Storage,Concrete,Covered
Garage Spaces 41.0
Pool Private,Heated
Community Features Biking,Curbs,Dog Park,Golf,Gutters,Park,Sidewalks,Storm Drains,Street Lights
Building
Lot Description Corner Lot,Landscaped,Near Public Transit,Park Nearby,Value In Land,Yard
Sewer Public Sewer