Active
618 Olive Street
SANTA BARBARA CA, 93101
$3,795,000
Active
6 Beds
3 Baths
Residential
Built in 2024
Courtesy of Jonathan P Standring, Beachside Partners
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.
24-3988
MLSⓇ ID
January 2, 2025
Listed
January 2, 2025
Updated
Map
618 Olive Street
SANTA BARBARA CA, 93101
Interior Features
Total Stories
2
Bedrooms
6
Total Bathrooms
3
Full Bathrooms
3
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.23 Acres
School Information
High School
S.B. Sr.
Elementary School
Franklin
Other Property Details
Area Name
15 - SB/EAST OF STATE
Days on Market
1
Garage
No
View
No
County
Santa Barbara
Pool
No
Zoning
C-M
Listed by Beachside Partners, Jonathan P Standring,
Listing Contact: [email protected]
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Data last updated 8:47 AM UTC, 1/2/2025
