Aria Fallah Purchases Isla Vista Multifamily Property From Steve Golis For $3.975M

This multifamily asset is located at 6597 Trigo Road in the Isla Vista market. The property sold for $3,975,000 and comprises 10 one-bedroom apartments. The total square footage is 5,012, resulting in a price per unit of $397,500 and a price per square foot of $793. The property includes a 10-space parking lot and on-site coin-operated laundry facilities, situated close to UC Santa Barbara and within walking distance to local amenities and the beach.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,975,000
• Units: 10
• Price Per Unit: $397,500
• Square Footage: 5,012
• Price Per Square Foot: $793
• Buyer: Aria Fallah
• Seller: Steve Golis
• Buyer's Representative: Rob Depaoli - Compass; Will Joseph - Joseph Group
• Note: SOLD | 6.24% Cap Rate | 11.71 GRM

The transaction involved key representatives including Rob Depaoli from Compass and Will Joseph from the Joseph Group. Their efforts facilitated the successful closing of this stabilized student housing property, which is strategically located just blocks away from the university. Congratulations to all parties involved in this successful transaction.