Jim Jacobsen Acquires Culver City Retail Property For $5.995M

Located at 2901 La Cienega Blvd and 5900-5904 Washington Blvd in Culver City, this retail property was recently sold. The transaction took place on March 26, 2021.

Summary of transation details:

• Property Type: Retail
• Transaction Amount: $5,995,000
• Market: Culver City
• Units: 3
• Price Per Unit: $1,998,333
• Square Footage: 5,000
• Price Per Square Foot: $1,199
• Cap Rate: 5%

The buyer in this transaction was Jim Jacobsen, while the seller was Bryan Siegel. Christopher Mavian from Mavian Real Estate represented both parties as the broker.

The property was listed for $6,200,000, but it was eventually sold for $5,995,000. With a total of 3 units, the price per unit comes to $1,998,333. The property spans across 5,000 square feet, resulting in a price per square foot of $1,199. The cap rate for this transaction is 5%.