Old Coast Investments Acquires Multifamily Property On Montecito Blvd. For $6M

The multifamily property located at 6131 Montecito Blvd. in North Bay was recently sold in a transaction handled by Alex Barreiro and David Cohen of The Cohen Company Sync Brokerage Commercial. The sale took place on 05/24/2022, with the buyer being Old Coast Investments and the seller being Georgia Barrow. The sale price for the property was $6,000,000, resulting in a per unit price of $250,000 for the 24 units. The total square footage of the property is 37,660, translating to a price per square foot of $159.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $6,000,000
• Units: 24
• Price per Unit: $250,000
• Square Footage: 37,660
• Price per Square Foot: $159
• Buyer: Old Coast Investments
• Seller: Georgia Barrow
• Brokers: Alex Barreiro & David Cohen - The Cohen Company Sync Brokerage Commercial