Meta Housing Acquires Development Site In North Hills For $14M
SOLD
$14,000,000
California
See Similar DealsDevelopment Site4,231,110 SF
Sold 08/17/2020
SOLD
Meta Housing Acquires Development Site In North Hills For $14M
8811 Sepulveda Blvd, North Hills, CA 91343, USA
See Similar DealsDevelopment Site4,231,110 SF
Sold 08/17/2020
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$3
Total Square Footage:4,231,110 SF
Transaction Type:Sale
8811 Sepulveda Blvd in North Hills has been sold for $14,000,000. This development site spans a total of 423,111 square feet, resulting in a price per square foot of $33. The property was purchased by Meta Housing from MDB & RDB Family Properties.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $14,000,000
- Address: 8811 Sepulveda Blvd
- Market: North Hills
- Seller: MDB & RDB Family Properties
- Buyer: Meta Housing
The deal was facilitated by several brokers. Frank Evanisko represented the seller, Evanisko Realty, while Mike Maniscalchi represented the buyer through Systems Real Estate. Lonnie McDermott of Marcus & Millichap also played a role in the transaction.
This transaction marks a significant development in the North Hills market, showcasing the demand for development sites in the area. Meta Housing's purchase of 8811 Sepulveda Blvd highlights their commitment to expanding their portfolio and investing in strategic locations.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$746,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$49,739.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$66,367.14
Annual Debt Service$796,405.71
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