
Mixed-Use Culver City Property Trades for $780K Per Unit
CBRE finalized the sale of The Oliver, a mixed-use property with 30 multifamily units and 8,665 square feet of ground-floor retail in Culver City, for $29.25 million or $780,000 per unit. The firm’s Eric Chen and Joyce Goldstein represented the seller, Washington Marcasel Apartments, LP, and the buyer, Oliver Washington 88, LLC.
Located at 11955 W. Washington Blvd., the property was built in 2016 and features large one- and two-bedroom floorplans averaging 1,159 square feet. Ground-level retail includes Wall Street Pizza, Red Diamond Yoga, The Hive Beauty Collective and Pearl Dental.
“The Oliver is a highly desirable asset on the Westside,” said Chen. “As a result, the deal closed at one of the highest prices for comparable building sales in the area.”
Connect Orange County will take place Sept. 27, 2023 at VEA | Newport Beach Marriott in Newport Beach, concurrently with Connect Healthcare Real Estate on Sept. 27 and 28. Click here to register for Connect Orange County, and here to register for Connect Healthcare Real Estate.
- ◦Sale/Acquisition