Updated May 4, 2026
Summer & Kevin Wahlberg Purchase Multifamily Property At 7392 Freeman Place For $1.4M
7392 Freeman Place
$1,400,000
$574/SF
Building Size
2,437 SF
Asset Type
MultiFamily
Closing
Apr 28, 2026
About this deal
AI
The asset involved in this transaction is a multifamily property located at 7392 Freeman Place in the Goleta market. The sale price for the property was $1,400,000, which is equivalent to a price per unit of $700,000. The total square footage of the property is 2,437, resulting in a price per square foot of $574.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,400,000
- Units: 2
- Price Per Unit: $700,000
- Square Footage: 2,437
- Price Per Square Foot: $574
- Buyer: Summer & Kevin Wahlberg
- Seller: Steven Rickborn
- Brokers: Robert Schenk & Daniel Withers - Matthews
Summer and Kevin Wahlberg are the buyers of the property, acquiring it from seller Steven Rickborn. The transaction was facilitated by brokers Robert Schenk and Daniel Withers from Matthews, who represented the parties in this deal.
On the Map
$1,400,000
$574/SF
MultiFamily
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Players
Goleta MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
11.33%
Cash-on-Cash
-3.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93