A triple-lot multifamily sitein West Los Angeles has traded hands for a record price per squarefoot. Developer Coffee Tree Vacaville purchasedthe property for $9.4 million or $613 per square foot, a benchmarkprice for the area, from a partnership between private investorsDanny Monempour, Roland Pattersonand Elaine Landis.

The property is in a TOC housing incentive areas, and includesthree apartment buildings totaling 18 units on 15,333 square feetof land. It is walking distance to the Century City mall. It islocated at 10448, 10456 & 10460 Santa Monica Blvd.

Kidder Mathews commercial real estatebroker, Michael Monempour along with RaminGheitanchi of Keller Williams BeverlyHills, represented the buyer and the sellers.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

Los Angeles
Multifamily
Capital Markets
West