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SALE PRICE: $2,400,000

 

INDUSTRIAL BUILDING​

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The Hirth Group is delighted to announce the successful closing of 5358 Cartwright Avenue, situated in the heart of the North Hollywood Arts District! This property features a well-preserved industrial building with a distinctive bow-truss ceiling, encompassing approximately 4,960 square feet on an estimated 11,885 square foot corner lot, zoned LAMR1.

Ethan Donel, Alex Reyhan, and Daniel Hirth represented the seller in this transaction. During the first two weeks of marketing, the property received over a dozen offers. Due to a high demand for industrial space in the North Hollywood area, our team effectively sparked a bidding war for this asset, which led to a closing at the full list price with an all-cash buyer. The buyer had a 5-day due diligence period, and the deal closed in 20 days. Through a combination of our strategic marketing efforts and the current market uncertainties, we were also able to secure a $250,000 non-refundable pass-through to our seller upon the removal of contingencies, ensuring the buyer’s commitment to proceed with the sale.

This transaction marked the first sale for the seller’s family in the past four decades, and our agents took great responsibility to ensure that the seller received maximum compensation for their property.

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