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8/08/25
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A 1.73-acre multifamily development site on Los Angeles’ westside traded for $24 mil. The property is located at 9700-9740 W. Pico Blvd, just west of Beverwill Dr. The site is positioned within walking distance of Century City and adjacent to Beverly Hills, offering future residents access to premier retail, dining, and employment hubs in one of the most desirable neighborhoods in Los Angeles.
CBRE’s Melinda Russell and Josh Samuels represented both the buyer, Pico BWB LLC, and the seller in the transaction.
“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.”
According to CBRE research, Los Angeles’ multifamily market fundamentals are continuing to strengthen, closing Q1 2025 with a 95.4% occupancy rate. This high-profile transaction underscores the urgent need for new housing supply in West L.A., where demand remains strong and opportunities for large-scale development are increasingly rare.
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