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SALE PRICE: $4,000,000

 

MIXED-USE RETAIL & OFFICE BUILDING​

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The Hirth Group is pleased to announce another successful closing of 1501 & 1509 W Magnolia Boulevard, Burbank, CA 91506! The subject property is a mixed use building comprising of both retail and office space. The building stands at 7,100 SF on a 11,500 SF corner lot with fourteen (14) parking spaces. At the time of close, 85% of the building was either month to month or vacant, while the retail storefront was leased. 

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Ethan Donel, Alex Reyhan, and Daniel Hirth represented both the seller and buyer in this transaction. Despite market concerns and a significant portion of the building being vacant office space, our team executed a strategic marketing campaign that attracted a buyer ready to move forward without any contingencies. This resulted in a swift 14-day close with $250,000 passed through nonrefundable to the Seller at the open of escrow.

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Notably, the property had previously been listed for sale two years prior, with a different firm in a market with favorable interest rates. Additionally, a short term seller-carry was arranged to aid the Buyer during renovations and repairs. The property was sold at an impressive $563 per square foot totaling $4,000,000.

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