618 E Olive Santa Barbara CA 93101 MLS #V1-27351

618 E Olive
Santa Barbara, CA, 93101
$3,795,000
Beds
0 Baths
SqFt
0.23 Acres
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
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James

James

Co-Owner/ Broker/ Realtor®

Default 805 748-2262
Work Phone 805 481-3939

Get Out There, A Simply Outgoing Approach to Life. James Outland Jr. is one of those rare people who simply has an outgoing approach to life. No matter the activity… from dune buggy riding to skydiving to motorcycling to riding the local Pismo Beach waves… James Outland Jr. approaches life with a “just get out there and do it” kind of attitude. A zest for Life. James’ zest for life is obviously apparent in his many exciting hobbies. In his spare time, he loves riding dune buggies or hi…

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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

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broker reciprocity 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.
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618 E Olive
Santa Barbara, CA