A LA Multifamily success story in Westside
Culver City Studio Complex Sold for $4,050,000
11178 Culver Blvd.
11178 Culver closed after 70 days on market, showing that buyers are still active for well-located Westside apartment assets when current income, basis, and location are aligned with the market.
Offering Price
$4,050,000
City
Westside
Current CAP
7.37%
Price per unit
$192,857
Lot Size
10,805 SF
11178 culver
Offering Price
$4,050,000
Number of Units
21 Units
Bldg. Size
8,492 SF SF
Price per Foot
$477
Year Built
1956
Market CAP
8.69%
Zoning
LARD2
Background
11178 Culver Blvd is a 21-unit, studio-only apartment complex located near the intersection of Sepulveda Blvd. and Culver Blvd. in Culver City. The courtyard-style property sits in a central Westside location, with residents positioned near Downtown Culver City, Mar Vista, Marina del Rey, and major employment centers across the Westside.
The property was referred to KST by Matthew Hoult of Christie’s, who brought our team in to co-list the asset. Matthew had already closed several deals with KST, so there was trust and familiarity going into the assignment.
The seller needed a clear read on the market, disciplined positioning, and a process that would keep buyers focused on the income and basis behind the property. For a studio-only complex in Culver City, the story needed to be specific. The value was not just in the location. It was in the combination of current yield, Westside basis, and realistic upside.
Challenge
For 11178 Culver, the studio-only unit mix narrowed the buyer pool. Not every investor looking in Culver City wants a building made up entirely of studios, especially when comparing it against assets with larger layouts or a more balanced unit mix.
The challenge was keeping buyers focused on what made the property work: a strong going-in CAP rate, a low price per unit for the Westside, a central Culver City location, and approx. 13% rental upside.
We focused the market on current income, attractive basis, and the property’s access to Culver City, Mar Vista, Marina del Rey, and major Westside employment centers. In today’s market, buyers are more willing to engage when the income story is clear and the basis compares favorably to nearby alternatives.
Result
11178 Culver Blvd sold for $4,050,000 after 70 days on market, with KST representing the seller. For the seller, the result showed that buyer demand is still active for well-located Westside apartment assets when pricing and income are aligned with the market.
For owners, the takeaway is straightforward. A unit mix that narrows the renter pool can also narrow the buyer pool. In a selective market, pricing discipline, current income, and local positioning become harder to separate from the final result.
View our closed sales page for a broader look at recent Los Angeles multifamily transactions and how similar assets have moved through the market.
