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Max Ziegler Acquires Mixed-Use Property In Burbank For $4M

Property Image
SOLD
$4,000,000

California

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Mixed-use14,200 SF
Sold 03/01/2024
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Property Image
SOLD

Max Ziegler Acquires Mixed-Use Property In Burbank For $4M

1501 West Magnolia Boulevard & 1509 W Magnolia Boulevard

See Similar Deals
Mixed-use14,200 SF
Sold 03/01/2024
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Summary

CALIFORNIA
Asset Type:Mixed-use
Price Per Square Foot:$281
Total Square Footage:14,200 SF
Transaction Type:Sale

The mixed-use property located at 1501-1509 W Magnolia Boulevard in Burbank was sold for $4,000,000. Spanning 7,100 square feet, the property was purchased by Max Ziegler from seller Timothy Prince. The deal was facilitated by brokers Ethan Donel, Alex Reyhan, and Daniel Hirth from The Hirth Group, who successfully managed to secure a buyer willing to proceed without any contingencies, resulting in a swift 14-day close.

Summary of transaction details:

The Hirth Group played a crucial role in the property transaction, curating multiple offers and securing a buyer who was ready to proceed swiftly without any contingencies. This successful deal showcases the expertise and efficiency of the brokers involved in orchestrating a seamless transaction for both the buyer and the seller.

Players

Ethan Donel
25 deals$59.8M volume(310) 300-3179
BROKER

Alex Reyhan
The Hirth Group
47 deals$187M volume
BROKER

Daniel Hirth
The Hirth Group
71 deals$222.8M volume
BROKER

Details

SOLD
IMAGE: Daniel Hirth, Ethan Donel & Alex Reyhan DATE: 03/01/2024 ADDRESS: 1501-1509 W Magnolia Boulevard MARKET: Burbank ASSET TYPE: Mixed-use BUYER: Max Ziegler SELLER: Timothy Prince BROKERS: Ethan Donel (@EthanDonel), Alex Reyhan (@Reyhan__Alex) & Daniel Hirth (@DHirth5) - The Hirth Group (@HirthGroup) SALE PRICE: $4,000,000 SF: 7,100 ~ PPSF: $563 NOTE FROM BROKERS: Broker Note: The Hirth Group curated multiple offers and ultimately located a buyer willing to move forward without any contingencies at a 14-day close.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$213,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
Annual Debt Service$227,544.49