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.
Property Details
Price:
$3,795,000
MLS #:
V1-27351
Status:
Active
Baths:
0
Address:
618 E Olive
Type:
Residential Income
Neighborhood:
vc81santabarbara
City:
Santa Barbara
Listed Date:
Jan 3, 2025
State:
CA
ZIP:
93101
Lot Size:
10,018 sqft / 0.23 acres (approx)
Year Built:
2024
See this Listing
Full-time Real Estate Broker, sold 1100+ Properties in SLO and SBC County. 38 years of local real estate knowledge and experience. I understand each sale is about you and your goals. I know as we get older, we don’t have time to make up for any mistakes especially when it comes to one the most significant investments. I care about my clients and work very hard to share my knowledge and protect you along the way. I place the appropriate verbiage in the listing and listing agreement depending …
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Schools
Interior
Fireplace Features
None
Flooring
Carpet, Tile, Laminate
Exterior
Community Features
Gutters
Electric
220 Volts
Fencing
Masonry, See Remarks
Garage Spaces
0.00
Lot Features
Near Public Transit, Park Nearby
Parking Features
None
Parking Spots
0.00
Pool Features
None
Spa Features
None
Stories Total
2
View
None
Financial
Association Fee
0.00
Map
Community
- Address618 E Olive Santa Barbara CA
- AreaVC81 – Santa Barbara
- CitySanta Barbara
- CountySanta Barbara
- Zip Code93101
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Courtesy of Beachside Partners. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than Outland and Associates Real Estate include the name of the listing broker. Neither the listing company nor Outland and Associates Real Estate shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2025. California Regional Multiple Listing Service. All rights reserved.
618 E Olive
Santa Barbara, CA
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