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West LA Development Site Could Hold 200-Plus Apartments
CBRE closed the sale of a 1.73-acre multifamily development site at 9700-9740 W. Pico Blvd. between Brentwood and Century City in Los Angeles. Pico BWB LLC acquired the property for $24 million. CBRE’s Melinda Russell and Josh Samuels represented both the buyer and the undisclosed seller.
“This coveted West L.A. site represents a once-in-a-generation opportunity to develop over 200 units in a prime Beverlywood location,” said Russell. “We ran a highly targeted, confidential marketing process that generated 11 offers in just 45 days. Through strategic outreach and deep market knowledge, we were able to secure the best possible outcome for both the buyer and the seller.”
CBRE said LA’s multifamily market fundamentals continue to strengthen, closing the first quarter of 2025 with a 95.4% occupancy rate. The sale underscores the need for new housing supply in West L.A., where opportunities for large-scale development are increasingly rare, according to CBRE.
- ◦Sale/Acquisition
- ◦Development
