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Tight Multifamily Market in L.A.

LOS ANGELES-The tight multifamily property market here may be overheating, says Danny Monempour, the president of Monem Corp. But there are still deals to be had.

By Bruce Haring | Updated on April 08, 2013

LOS ANGELES-The market here for multifamily properties is “very, very, very tight,” according to Danny Monempour, president of Monem Corporation. But there are still some deals to be had, he says.

Monem Corp., a private investment firm that focuses mostly on rent-controlled multifamily properties in Los Angeles County, has just acquired two apartment buildings totaling 44 units for $5 million. The two acquisitions bring Monem up to more than 60 multifamily properties throughout L.A., with a goal of adding 100 units per year, Monempour tells GlobeSt.com.

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