2700 Aviation blvd, Redondo Beach, CA 90278
Active
$16,900,000
41 Units
11 Beds
7 Baths
31,147 Area(sq.ft.)
Lot: 31,654 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 18 | 2 | 1 | No | $ 2,338 | $ 42,075 | $ 3,303 |
| Unit 2 | 20 | 1 | 1 | No | $ 2,073 | $ 41,450 | $ 2,805 |
| Unit 3 | 1 | 2 | 2 | No | $ 2,425 | $ 2,425 | $ 3,500 |
| Unit 4 | 1 | 3 | 2 | No | $ 3,050 | $ 3,050 | $ 4,100 |
| Unit 5 | 1 | 3 | 1 | No | $ 3,305 | $ 3,305 | $ 3,950 |
| 41 | 64 | 43 | $ 92,324 | $ 1,595,130 | $ 127,104 |
| MLS #: | PW25111723MR |
| Days On Market: | 262 |
| Listing Date: | May 19, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 543 |
| Price per unit: | $ 412,195 |
| Year Built: | 1964 |
Property Details
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.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Rent Control: | Yes |
| Gross Operating Income: | $ 1,090,053 |
| Total Annual Expense: | $ 385,289 |
| Net Operating Income: | $ 704,763 |
| Cap Rate: | 4.17% |
| Gross Rent Multiplier: | 15.26 |
| Actual Gross Rent: | $ 92,305 |
Structure
| Community Features: | Biking, Curbs, Dog Park, Golf, Gutters, Park, Sidewalks, Storm Drains, Street Lights |
| Security Features: | Resident Manager |
| Sewer: | Public Sewer |
| Water: | Public |
Land & Parking
| Zoning: | RBR-3 |
| Land Lease Type: | Fee |
| Parking Garage: | Assigned, Built-In Storage, Private |
| Total Parking: | 41 |
Interior
| Heating: | Wall |
| Fireplace Rooms: | Den |
| Laundry: | Laundry Area |
| Laundry Equipment: | Own |
Exterior
| Pool: | True |
| Pool Description: | Heated, Private |
| Roof: | Flat, Tar and Gravel |
Detailed Map
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