Kalnel Gardens, LLC Acquires Culver City Mixed-Use Property For $2.3M

The mixed-use property located at 11452-11456 W. Washington Blvd in Culver City has been sold for a price of $2,385,000. The sale took place on November 6, 2019. The property was mostly vacant, with only one tenant on a month-to-month lease. The buyer, Kalnel Gardens, LLC, was involved in a 1031 exchange. The seller of the property was Lena Segolson. The transaction was facilitated by brokers T.C. Macker and Jennifer Moscoso from Westmac Commercial, along with Daniel Pickart from Industry Partners.

Summary of transaction details

• Property Type: Mixed-Use
• Transaction Amount: $2,385,000
• Date: 11/06/2019
• Address: 11452-11456 W. Washington Blvd
• Market: Culver City

The buyer, Kalnel Gardens, LLC, was engaged in a 1031 exchange, a tax-deferred strategy for selling one property and acquiring another. The property, located in Los Angeles and Culver City, attracted interest with its mixed-use potential. The transaction was completed at the asking price, indicating the buyer's confidence in the investment. It is worth noting that the property was primarily vacant, offering potential for the new owner to implement their own vision.