Triple-Lot Multifamily Site Trades At Record Price

A triple-lot multifamily site in West Los Angeles has traded hands for a record price per square foot. Developer Coffee Tree Vacaville purchased the property for $9.4 million or $613 per square foot, a benchmark price for the area, from a partnership between private investors Danny Monempour, Roland Patterson and Elaine Landis.

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

Kidder Mathews commercial real estate broker, Michael Monempour along with Ramin Gheitanchi of Keller Williams Beverly Hills, represented the buyer and the sellers.