618 E Olive

Santa Barbara, CA 93101

$3,795,000

List Price

N/A

bed Beds

shower Baths

N/A sqft

straighten / sqft

2024

calendar_month Built

Property Description

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.

Listing Information

List Price $3,795,000
Status Active
MLS V127351
HOA $0
Type Residential Income
Year Built 2024
Lot Size 10,019
Structure Size N/A
Courtesy Of Beachside Partners
Listing Agent Jonathan Standring DRE#01893163
Co-Listing Agent Lori Zahn DRE#01914851

Interior Features

Laundry Information
Location(s) See Remarks
Total Bedroom
Bedrooms N/A
Flooring Information
Material Carpet, Laminate, Tile
Fireplace Information
Features None

Exterior Information

Maps

Listing information courtesy of: Jonathan Standring, Lori Zahn, Beachside Partners (805) 626-0112. *Based on information from the Association of REALTORS/Multiple Listing as of Jan 3rd, 2025 at 11:33 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.