Updated Oct 29, 2024
Meila Homes Acquires Office Building In Irvine For $3.2M
9860 Irvine Center Drive
$3,214,080
$540/SF
Building Size
5,952 SF
Asset Type
Office
Closing
Apr 5, 2023
About this deal
AI
Rhythm Interactive Marketing Agency has sold an office property located at 9860 Irvine Center Drive in Irvine. The property, measuring 5,952 square feet, was sold to Meila Homes for a price of $3,214,080. The transaction took place on April 5, 2023, and the property was initially listed at an asking price of $3,300,000. This translates to a price per square foot of $540.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $3,214,080
- Square Feet: 5,952
- Asking Price: $3,300,000
- Price per Square Foot: $540
The deal was facilitated by Matthew Biggs and Tibor Kelemen from Kelemen Company, who represented both the buyer, Meila Homes, and the seller, Rhythm Interactive Marketing Agency. Matthew Biggs and Tibor Kelemen acted as brokers in this transaction.
Players
Market Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.94%
Cash-on-Cash
-1.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93