618 E Olive, Property Listing: MLS® #V1-27351

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.

618 E Olive, Property Listing: MLS® #V1-27351 Close
Page Summary
  • 619-987-4851
NEW
  • MLS® #: V1-27351
  • 618 E Olive
  • , CA 93101
  • $3,795,000
  • 0.23 Acres
  • Office: Beachside Partners

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.

Supplemental Remarks

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Essential Information

  • MLS® #V1-27351
  • Listing Price$3,795,000
  • Original Listing Price$3,795,000
  • Date ListedJanuary 3rd, 2025
  • Days on Market1
  • Bathrooms0.00
  • Acres0.23
  • Lot Sq.Ft.10,018
  • TypeResidential Income
  • StatusACTIVE

Dues

  • HOA Dues$0

Community Information

  • Address618 E Olive
  • AreaSANTA BARBARA (93101)
  • SubdivisionDowntown Santa Barbara
  • CountySanta Barbara
  • StateCA
  • Zip Code93101

Amenities

  • PoolN/K
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Listing information last updated on May 2nd, 2025 at 12:53am PDT.