618 E Olive
Santa Barbara, CA 93101
0.23 acres | #V1-27351
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.
Property Details
- Lot DescriptionNearPark, NearPublicTransit
- Property SubtypeResidentialIncome
- SubdivisionNot Applicable
- CountySanta Barbara
- Property TypeMulti-Family
- Original List Price$3,795,000
- MLS #V1-27351
- MLS #V1-27351
- Cost3795000
- Acres0.23
- Year Built2024
- Stories2
Location
Legal
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Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. 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
Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Jonathan Standring (#v211512682)
Listing Office: Beachside Partners (#V9025)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
