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1501 West Magnolia Boulevard

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

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

1501 West Magnolia Boulevard & 1509 W Magnolia Boulevard

$4,000,000

$281/SF

Building Size

14,200 SF

Asset Type

Mixed-use

Closing

Mar 1, 2024

AI

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

The Hirth Group

Broker

$59.8M

vol

25 deals

Broker

Burbank Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.97%

Cash-on-Cash

-1.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93