618 E Olive, Santa Barbara, CA 93101
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Listed Price :
$3,795,000
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Beds :
N/A
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Baths :
-
Property Size :
N/A sqft
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Year Built :
2024
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.
Interior Features
| Laundry Information |
| Location(s) |
See Remarks |
| Bedroom Information |
| Bedrooms |
N/A |
| Flooring Information |
| Material |
Carpet, Laminate, Tile |
Listing Information
| Address |
618 E Olive |
| City |
Santa Barbara |
| State |
CA |
| Zip |
93101 |
| County |
Santa Barbara |
| Listing Agent |
Jonathan Standring DRE #01893163 |
| Co-Listing Agent |
Lori Zahn DRE #01914851 |
| Courtesy Of |
Beachside Partners |
| List Price |
$3,795,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
N/A |
| Lot Size |
10,019 |
| Year Built |
2024 |
Listing information courtesy of: Jonathan Standring, Lori Zahn, Beachside Partners. *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.
