Daily limit: 0/10
Meta Housing Acquires 7220 Maie Avenue Retail Property In Los Angeles For $8M
SOLD
$8,000,000
California
See Similar DealsRetail6,000 SF
Sold 11/20/2023
SOLD
Meta Housing Acquires 7220 Maie Avenue Retail Property In Los Angeles For $8M
7220 Maie Avenue
See Similar DealsRetail6,000 SF
Sold 11/20/2023
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$1,333
Total Square Footage:6,000 SF
Transaction Type:Sale
Matthews Real Estate Investment Services sold a retail property located at 7220 Maie Avenue in Los Angeles. The property spans over 0.77 acres and was purchased by Meta Housing for $8 million. The sale includes a six-story building that will be redeveloped into The Metro @ Florence, which will feature 160 affordable units, retail spaces, and offices. The transaction also involved securing California state grants.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $8,000,000
- Address: 7220 Maie Avenue
- Market: Los Angeles
- Square Footage: 6,000
- Price Per Square Foot: $1,333
- Brokers: Ethan Miller & Simon Assaf - Matthews Real Estate Investment Services
Ethan Miller and Simon Assaf of Matthews Real Estate Investment Services represented the seller in this transaction. Meta Housing, the buyer, intends to transform the property into a six-story building with affordable housing units, retail spaces, and offices. The acquisition was made possible through California state grants.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Buyers
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$426,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,422.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,924.08
Annual Debt Service$455,088.98
Is there something missing? Send suggestions