Westview Apartments

Highlights:

• First Time Available in Over 50 Years
• Rare 40+ Unit Offering In Redondo Beach - Bordering Manhattan Beach
• 54% Upside in NOI & Attractive In-Place Cash Flow
• Further Upside by Monetizing Storage, Parking, & RUBS Implementation
• Tenants Pay for Unit Gas & Electricity
• Well Maintained - Lightly Upgraded Units

Description:

YoungLewin is 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.

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 YoungLewin for more details.

Redondo Beach is known for its history, vibrant harbor, and world-famous horseshoe-shaped pier. The city is 11 miles from Los Angeles International Airport and is home to some of the best shopping in Los Angeles’ South Bay area. South Bay Galleria offers more than 135 stores and restaurants to enjoy, while the Riviera Village – nestled next to beautiful beach coves – is a charming collection of more than 300 eclectic shops, restaurants and services.