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… Read More 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. Read Less
Property listed by Younglewin Advisors, Inc., Shane Young 562-556-1118
Listing Snapshot
Days Online
1
Last Updated
Property Type
Apartment
Lot Size
0.73 Acres
Year Built
1964
MLS Number
PW25111723
30 Days Snapshot Of 90278
$1.61M
+4%
(avg) sold price
30
-14%
homes sold
65
-2%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1964, Building area total: 31,147, Levels: ThreeOrMore, 2 buildings, Architectural style: , Attached, Common walls: TwoCommonWallsOrMore
Community
Biking, Curbs, DogPark, Golf, Gutters, StormDrains, StreetLights, Sidewalks, Park
Expenses
Electric expense: $6,483, Insurance expense: $35,819, Operating expense: $385,289, Trash expense: $13,660, Water sewer expense: $20,765
Exterior Features
Awnings, Lighting
Fireplaces
Den
Floors
Carpet, Tile, Vinyl
Garage
41 spaces
Heating
WallFurnace
Income
Gross income: $1,123,282, Net operating income: $704,763
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Confirm your time
Fill in your details and we will contact you to confirm a time.
