Sold

1501 1509 W Magnolia Boulevard

Burbank CA, 91506

$4,000,000


$563.38 per sqft

Sold

7,100 sqft

Commercial

Built in 1959

Listed by Daniel Hirth with KW Advisors 310-482-2200

1501 W. Magnolia Boulevard offers 4,920 SF of space on a 6,251 SF corner lot. The subject property also includes 1,100 SF of unpermitted upstairs office space, five (5) parking spaces with rear access and was built in 1959. Within this building resides three (3) conference rooms, two (2) kitchenettes' + one (1) large break room, four (4) bathrooms, twenty-six (26) cubicles, and fourteen (14) private offices.The neighboring property, 1509 W. Magnolia Boulevard, boasts 2,180 SF of building space on a 5,250 SF lot, with nine (9) parking spaces built in 1951. Roughly 1,090 square feet within this building is subject to a lease set to conclude in February 2025.1501 & 1509 W. Magnolia Boulevard allows an owner/user to capitalize on the demand for office/retail space in the heart of Burbank. This opportunity is ideal for an owner user to take advantage of SBA financing with as little as 10% down while owning prime real estate in a great pocket of Burbank. Additionally, an owner user can choose to occupy 51% of the space and generate additional income aside from the current rent from 1511 W. Magnolia Boulevard. Furthermore, for qualified buyer's seller financing may be available. Due to Burbank's initiative to attract new businesses, there is also no city income tax and no gross sales receipt tax.* Buyer to confirm tax benefits with the city of Burbank and all measurements listed above.

24352169

MLS ID

January 22, 2024

Listed

March 28, 2024

Updated

Map

1501 1509 W Magnolia Boulevard
Burbank CA, 91506

Interior Features

Total Stories

1


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.26 Acres


Lot Features

Corner Lot

Other Property Details

Area Name

610 - Burbank


Days on Market

25


Garage

No


Parking Total

14


View

No


County

Los Angeles


Pool

No


Zoning

BUC3*


Buyer Agency Compensation

2%

Listing History

Date

Event

Price

3/5/2024

Sold

$4,000,000

2/27/2024

Pending

Listing Contact: 310-482-2200 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/28/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 3/28/2024 at 3:17 PM UTC

 

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