618 E Olive, Santa Barbara CA, 93101

Active

618 E Olive

Santa Barbara CA, 93101

$3,795,000

$632.50 per sqft

Active

6,000 sqft

Residential

Built in 2024

Listed by Jonathan Standring with Beachside Partners [email protected]

Located in the heart of downtown Santa Barbara, this multifamily investment property presents a rare opportunity, featuring a mix of newly constructed and renovated buildings. Three of the six units were built from the ground up between 2023 and 2024, while the remaining three have been extensively improved, all with market rents in place. Offered at a current 5.47% cap rate and a GRM of 12.71, the property is ideal for investors seeking a more passive investment. Tenants enjoy exceptional walkability, with a Walk Score of 94 and a Bike Score of 99, providing easy access to Santa Barbara's most exciting destinations including Arnoldi's, Santa Barbara's iconic Italian restaurant and the emerging Haley corridor. Total current monthly income is $25,650.

V1-27351

MLSⓇ ID

January 2, 2025

Listed

January 4, 2025

Updated

Map

618 E Olive
Santa Barbara CA, 93101

Interior Features

Total Stories: 2
Laundry Description: See Remarks
Floor Description: Carpet, Laminate, Tile
Fireplace: No
Fireplace Description: None
Cooling: Yes
Heating: Yes

Exterior/Building Features

Lot Size: 0.23 Acres
Lot Features: Near Park, Near Public Transit

Other Property Details

Area Name: VC81 - Santa Barbara
Garage: No
Parking: None
Parking Total: 0
View: No
View Description: None
County: Santa Barbara
Pool: No
Pool Features: None
Zoning: C-M

Listing Contact: (805) 453-5097

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 1/4/2025. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 1/4/2025 at 12:11 AM UTC