618 E Olive, SANTA BARBARA CA, 93101

Active

618 E Olive

SANTA BARBARA CA, 93101

$3,795,000

$632.50 per sqft

Active

14 Beds

12 Baths

6,000 sqft

Multi-family

Built in 2024

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.

V1-27351VC

MLSⓇ ID

January 3, 2025

Listed

January 14, 2025

Updated

Map

618 E Olive
SANTA BARBARA CA, 93101

Interior Features

Total Stories: 2
Bedrooms: 14
Total Bathrooms: 12
Laundry Description: Other
Fireplace: No
Fireplace Description: None
Cooling: No
Heating: No

Exterior/Building Features

Lot Size: 0.23 Acres

Other Property Details

Area Name: 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

Listed by Jonathan Standring with Beachside Partners
Listing Contact: (805) 626-0112

Based on information from The MLS^TM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Montecito Luxury Group | CA DRE #1868263 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

Data last updated 1/14/2025