2221-2225 W. Olive Avenue | Burbank, CA 91506
SALE PRICE: $2,600,000
The Hirth Group is pleased to announce the sale of 2221-2225 W. Olive Avenue, Burbank CA 91506—a seventeen-unit multi-tenant mixed-used building! The subject property was located on the major thoroughfare of Olive Avenue on a corner lot, with approximately 7,478 SF of building on an estimated 10,100 SF lot.
Ethan Donel, Alex Reyhan, and Daniel Hirth represented both the seller and the buyer in this transaction. The team started a strategic marketing campaign amidst the Covid-19 pandemic and overcame the hurdle of need for office space and retail businesses closed due to the pandemic. Through our rigorous marketing strategy and intense negotiation techniques, the team was able to procure a buyer who was willing to go non-contingent and close in 14 days.
The buyer’s motivation to purchase the asset stemmed from his existing portfolio in the immediate area and the seller’s motivation to recoup capital.