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

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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

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

View

None

Financial

Association Fee

0.00

Santa Barbara Neighborhoods

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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