UCSB Student Housing Portfolio In Santa Barbara Sold For $4.4M

The recently closed property transaction in Goleta, California involved a multifamily asset located at 6680-6684 Sabado Tarde Rd., 6746 Del Playa Dr., and 6839 Sabado Tarde Rd. The property is part of the UCSB Student Housing Portfolio in the bustling Santa Barbara market. With a total of 7 units, the property sold for a total price of $4,447,047, translating to a per unit price of $635,000. The total square footage of the property is 7,412, and the price per square foot is $600.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $4,447,047
• Units: 7
• Price Per Unit: $635,000
• Square Footage: 7,412
• Price Per Square Foot: $600

The deal was facilitated by the LAAA Team from Marcus & Millichap, represented by Jordan Epstein, Filip Niculete, and Glen Scher, along with Adam Press from Press Real Estate. Notably, the seller exchanged this property into triple-net properties.

It is worth mentioning that this transaction showcases a price tag of $600 per square foot, $635,000 per unit, and $1.11 million per building, providing an attractive opportunity in the Santa Barbara market.