Meta Housing Acquires 7220 Maie Avenue Retail Property In Los Angeles For $8M

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.