The New Tahitian changes ownership in rare Isla Vista sale
 |
| Highlight Sale Transaction: “The Old Firehouse”, Montecito. The historic building located at 1486 East Valley Rd. sold in June for approx. $16 million or $2,500/SF. Union Bank will remain the long term tenant. |
View full report: Radius Insight 2nd Quarter 2013
Mid-year marks: Apartments steal more spotlight; Q1–Q2 sales remain steady
Despite a lack of “game-changer” headlines during the first two quarters, there are a handful of developing stories that merit attention. Perhaps none more noteworthy than the sustained surge in popularity of the multi-family (apartments) market.
Given a host of factors, including historically low vacancy rates, there are an increasing number of investors in the South Coast willing to put cash on the table to scoop up apartment properties as soon as they hit the market. While interest is showing no sign of letting up, declining inventory may cool things off (see pages 9–10 for more detail).
Recent News
Santa Barbara Independent: CommUnify Purchases Former Grace Lutheran Preschool Building in Santa Maria to Expand Child Care Services in North County
Press releases are posted on Independent.com as a free community service. CommUnify and its Board of Directors are pleased to announce… Read more »
Santa Barbara Independent: Santa Barbara Rent Control—What the Rent Freeze and the 2027 Ordinance Mean for Multifamily Owners
On July 28, the Santa Barbara City Council returned to its permanent rent stabilization ordinance — its first session on the subject… Read more »
News Alert: Monte Vista Townhomes Sells for $12.325M in Ventura’s Largest Commercial Real Estate Sale of 2026
Radius Commercial Real Estate closed the sale of Monte Vista Townhomes, a 52-unit multifamily community at 10965–10997 Del Norte Street in… Read more »