Detail

Updated on March 22, 2019 at 4:34 pm

  • Land Area: 7,035 sq ft
  • Property Size: 7,634 sq ft
  • Price: $3,025,000
  • Year Built: 1981

Description

• Bankruptcy sale
• Modern 2-story office building: Must see!
• Current Actual $192,000 NOI — 6.35% Cap Rate New 5 year lease plus one 5 year option (with annual increases)
• Ground floor interior gated parking for 14± vehicles with alley entrance
• Front and rear entrances/stairways
• Includes 2 conference rooms, computer room, 15 private offices, storage areas and 3 restrooms
• Skylights throughout the second floor offices
• Located at the northwest corner of Magnolia Blvd and Parish Place between Burbank Blvd and Verdugo Avenue; 6 blocks east of Buena Vista Street
• Interested parties can overbid on 3/20/19 at 10:00A.M. in Bankruptcy Court at 255 E. Temple St, Courtroom 1539, Los Angeles. No later than 2 days before the hearing, you must serve the Trustee and his counsel with an initial bid for not less than $3,025,000 and deliver a Cashier’s Check deposit in the amount of $250,000 payable to R. Todd Neilson, Chapter 11 Trustee. The overbid shall be on substantially the same terms as the sale agreement attached as “Exhibit B” to the sale motion. You must contact listing agent to obtain a copy of the sale motion which contains the sale agreement, preliminary title report and leases.

Property Documents

  • Marketing Package for 1901 W Magnolia
  • Address: 1901 W Magnolia Blvd
  • City: Burbank
  • State/county: CA
  • Zip/Postal Code: 91506
  • Country: United States

Contact info

Rene Mexia
Rene Mexia
213.747.4155213.446.2286
Jeff Luster
Jeff Luster
213.747.4152213.804.3013

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