SANTA BARBARA, CA-The 97 unit Harbor Heights Manor apartment complex near West Beach has entered the area's hotly contested multifamily investments market with a price tag of $33 million or $340,000 per unit.

Radius Commercial Real Estate & Investments, which listed the asset, says the sale will be the largest in the area since a trio of Isla Vista transactions in 2010 ranging in size from $27-$37 million.

Built in 1970, the property occupies a sizable footprint on a rise that sits on the doorstep of Santa Barbara City College at the corner of Cliff Drive and Loma Alta Drive.

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David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.