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.

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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