A 5,000-square-foot industrial building located at 5358 Cartwright Avenue in North Hollywood's Arts District was sold for $2.4 million. The property, situated on an 11,900-square-foot lot, was acquired by an undisclosed owner-user who plans to use it as a showroom warehouse. The transaction amounted to $480 per square foot and included amenities such as nine private offices, parking, truck loading access, a kitchen, updated bathroom with shower, and a roll-up door. Moreover, the property is located within State Enterprise and Opportunity Zones, potentially offering tax benefits.

Summary of transation details:

• Property Type: Industrial
• Transaction Amount: $2,400,000
• Square Footage: 5,000
• Price per Square Foot: $480
• Lot Square Footage: 11,900
• Price per Lot Square Foot: $202
• Address: 5358 Cartwright Avenue
• Market: North Hollywood

Tina LaMonica from NAI Capital represented the buyer in the transaction, navigating a competitive market for owner-users in North Hollywood. On the other side, the seller was represented by Alex Reyhan, Daniel Hirth, and Ethan Donel from The Hirth Group - KW Commercial. The acquisition of this industrial property demonstrates the continued interest and investment activity within North Hollywood's evolving real estate landscape.