“Frothing” multifamily market as hikes in overhead push mom-and-pops out
As Los Angeles regulatory policies and increasing operating costs drive out mom-and-pop landlords, the city’s rental landscape is undergoing an ownership shift with implications for pricing and housing stock quality. “Demand to sell is really frothing over the top,” said Kian Maronde, associate director of investments for a local Marcus & Millichap team that focuses on multifamily buildings between five and 30 units. Since the start of 2024, Maronde said his team has brokered 86 sales in the L.A. area, totaling $184.8 million. The vast majority of sellers are in their 50s, 60s and 70s and own a single property […]This article originally appeared on The Real Deal. Click here to read the full story.
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