618 E Olive, Santa Barbara, CA 93101
- $3,650,000
- Sold Price
- $3,650,000
- List Price
- $3,795,000
- Closing Date
- Nov 07, 2025
- Status
- CLOSED
- MLS#
- V1-27351
- Year Built
- 2024
- Lot Size
- 10,018
- Acres
- 0.23
- Lot Location
- Near Park, Near Public Transit
- Days on Market
- 242
- Property Type
- Multifamily
- Stories
- Multi Level
- Neighborhood
- Not Applicable
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.
Additional Information
- Pool Description
- None
- Cooling
- Yes
- View
- None
- Attached Structure
- Attached
- Gross Scheduled Income
- $307,800
- Operating Expense
- 90816
Listing courtesy of Listing Agent: Jonathan Standring (jon@beachsidepartners.com) from Listing Office: Beachside Partners.
Listing sold by Jonathan Standring from Beachside Partners
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