Redondo Beach Estate
Sunday, November 22nd, 2009
An out-sized oceanfront apartment house in has been put up for auction. The structure, called the Waterfront, possibly will be sold for in so far as $80.5 million. The 161-unit estate at 211 Yacht Club Way is owned and managed by real estate investor Bascom Group LLC of Irvine. Bascom acquired the building nearly four years ago in an off-market transaction for an unrevealed figure. The property was put on the marketplace last Feb. 25. So far, there is no expected cost for the 1969 property, which is 90 percent chartered. The assembly comprises a 10,000-square-foot Chart House restaurant, which is sheltered into a long-standing lease.