Culver City Just Saw Its Priciest Apartment Sale Ever: What $704,000 a Door Means for Owners

Published July 25, 2026

Black Equities paid $106 million for the 115 unit Access Culver City complex, a record deal that says a lot about where investor money is heading.

Black Equities just paid $106 million for the 115 unit Access Culver City complex at 8770 Washington Boulevard, working out to about $704,000 per unit and reportedly the most expensive multifamily sale in Culver City's history. For owners here, the number itself matters less than what it says about where investor demand is concentrating on the Westside right now.

The deal in plain terms

Greystar, which developed and opened Access Culver City around 2016, sold the property to Black Equities, a Beverly Hills based investment firm, according to Commercial Observer. The $106 million price splits roughly into $81 million for the 115 residential units and $25 million for the building's 31,000 square feet of ground floor retail, which is fully leased. That retail piece pencils out to about $805 per square foot.

Newmark represented the seller. Commercial Observer reported the deal is likely the largest multifamily transaction in Culver City's history, and framed it as evidence of the city's pull as a media and technology employment hub with what it called a housing policy friendly to development.

Why $704,000 a door is the number to watch

Price per unit is the cleanest way to compare apartment sales across very different buildings, because it strips out size and mix differences. A record price per door in Culver City tells owners two things. First, an institutional buyer looked at rents, occupancy, and the surrounding job base here and concluded the numbers support a premium basis. Second, that premium was set on a newer building, loaded with amenities, near Culver City's office and studio corridor, so it is not necessarily the number your older or smaller property would command. Comps still matter, and a single trophy sale does not reset value across the whole city.

The Measure ULA backdrop

Culver City and Beverly Hills are their own incorporated cities, which means property sales inside their limits are not subject to the City of Los Angeles's Measure ULA transfer tax, the added 4 percent charge on sales above roughly $5.3 million and 5.5 percent above about $10.6 million within LA city limits. Multiple advisory sources tracking the tax, including Reed CPA's Measure ULA guide and Goldstein & Co.'s transfer tax breakdown, describe capital shifting toward Beverly Hills, unincorporated pockets, and neighboring independent cities specifically to avoid that added cost on large deals.

I want to be careful here: none of the reporting on the Access Culver City sale itself cites Measure ULA as Black Equities' motivation for this particular purchase. What is documented is the broader pattern, that large multifamily sales have been migrating toward cities like Culver City and Beverly Hills that sit outside LA city limits. A record sale landing in one of those cities during that same window is consistent with the trend, even if this specific deal's rationale was not spelled out publicly.

Why investors are choosing Culver City specifically

The retail piece of this deal is worth a second look, because it explains part of why an investor would pay a record number for the residential side too. Access Culver City sits with 31,000 square feet of fully leased ground floor retail, and Commercial Observer reported that retail portion alone traded at about $805 per square foot, roughly $25 million of the total price. A buyer underwriting a mixed use asset like this is not just pricing apartments. They are pricing steady commercial income next to housing demand driven by Culver City's studio and tech employers, a combination that is harder to find on the Westside than a standalone apartment building.

That employer base is the other half of the story. Culver City has grown into a real production and technology corridor over the past decade, anchored by studio campuses and office tenants that draw workers who want to live close to where they work. An institutional buyer paying a record price per unit is making a bet that this employment base keeps growing and keeps supporting rents, not just today but over a long hold period. For owners with property near that same corridor, the same demand drivers apply, even at a much smaller scale.

What this means if you own here

If you own a rental property in Culver City, a sale like this is a data point, not a valuation. It confirms institutional capital is willing to pay a premium for good Culver City locations in multifamily, which supports rents and resale value broadly. It does not mean your property, if it is older or smaller, is suddenly worth $704,000 a unit. If you are weighing a sale, the ULA exemption is a genuine advantage Culver City property has over LA city listings on any deal large enough for the tax to bite, and it is worth mentioning to a broker pricing your building.

Common questions

Does Measure ULA apply to my Culver City rental?

No. Measure ULA is a City of Los Angeles transfer tax and only applies to sales of property within LA city limits. Culver City is its own incorporated city and is not subject to it.

Does this sale mean my property value went up?

Not directly. It is a strong signal for investor demand in Culver City's multifamily market generally, but the price per unit on a newer, amenity rich building near the studio corridor is not the same comp as an older duplex or fourplex elsewhere in the city.

Who was involved in the deal?

Greystar was the seller, Black Equities was the buyer, and Newmark represented the seller, according to reporting from Commercial Observer.

Should I sell now while prices look strong?

A record trophy sale is not a signal to time a sale on its own. It reflects strong demand for a specific type of newer, mixed use property in a specific location. If you are considering a sale, get your property priced against real comps for its age, size, and condition, and factor in whether Culver City's exemption from Measure ULA changes your net proceeds compared to a similar sale inside LA city limits.

Last verified: July 25, 2026. Figures and deal terms are drawn from public reporting on the Access Culver City sale and Measure ULA advisory sources cited above. This is general information for property owners, not investment or legal advice. Confirm current pricing and terms with a broker or licensed professional before acting.

Kellie

Schofield Properties

323 Richmond Street, El Segundo, CA 90245

Topics: investing, culver-city, westside, market-trends

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