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APRIL 9, 2019

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Wiseman Residential buys L.A. multifamily property

by Released

Wiseman Residential, a real estate developer in Southern California, has purchased a multifamily property located at 10751 Missouri Avenue in Los Angeles, for $3.025 million in an off-market deal. The seller was a private investor. Kidder Mathews commercial real estate broker Michael Monempour represented both parties in the transaction.

The apartment building is located in the Westwood neighborhood of Los Angeles where rental property is in high demand.

“The property was not for sale, but we brought the seller a strong offer with price and terms too good to refuse,” said Monempour. “The apartment building value was about $2.75 million and the seller was about to obtain 10 percent above market value for the land,” he said.

There is an existing 5,450-sq

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