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618 E Olive

Santa Barbara, CA 93101

– beds
– baths
– sqft
10,018 sqft lot
2024 build
– on site

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.

Listed By CRMLS_CA / Jonathan Standring / Beachside Partners / jon@beachsidepartners.com

Last checked: Checking… • Last updated Jan 18, 2025 •

MLS# V1-27351 —

This property is listed in more than one place. See it here.

The Building

Year Built:

2024
Year Built Source:

See Remarks
New Construction:

Yes
Building Area Total:

6000.00
# of Buildings:

4
Stories Total:

2
Common Walls:

1 Common Wall, No One Below, No One Above
# of Separate Gas Meters:

4
# of Separate Water Meters:

4
# of Separate Electric Meters:

6

Interior

Levels:

Multi/Split
Flooring:

Carpet, Tile, Laminate
Fireplace:

No
Fireplace:

None
Laundry:

See Remarks
Laundry:

1

Location

Directions:

Downtown Santa Barbara
Latitude:

34.42364600
Longitude:

-119.69147800

The Property

Property Type:

Residential Income
Zoning:

C-M
Lot Features:

Near Public Transit, Park Nearby
Lot Size Area:

0.2300
Lot Size Acres:

0.2300
Lot Size SqFt:

10018.80
Lot Size Source:

Assessor
View:

None
Fencing:

Masonry, See Remarks
Fence:

Yes
Property Attached:

1
Additional Parcels:

No
Land Lease:

No

Listing Agent

Contact info:

The Listing

Special Listing Conditions:

Standard
Parcel Number:

031171009

Heating & Cooling

Heating:

1
Cooling:

Yes

Utilities

Electric:

220 Volts

Appliances

Included:

Yes

The Community

Subdivision:

Not Applicable
Subdivision:

Not Applicable
Neighborhood:

Downtown Santa Barbara
Features:

Gutters
Pool:

None
Senior Community:

No
Private Pool:

No
Spa Features:

None
Assessments:

No
Assessments:

None

Parking

Parking:

No
Parking:

None

Extra Units

Average 2 Bed Area:

900
Average 3 Bed Area:

1100

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Transit Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Max Internet Speed

Cox

Provided by BroadbandNow®

Sale history

Date	Event	Source	Price	% Change
1/3/25 Jan 3, 2025	Listed / Active	CRMLS_CA	$3,795,000

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This multifamily located in Downtown Santa Barbara, Santa Barbara, CA 93101 is currently for sale for $3,795,000. 618 E Olive is a – square foot multifamily with – beds and – baths that has been on Estately for 105 days. 618 E Olive is in the Downtown Santa Barbara neighborhood of Santa Barbara and has a WalkScore® of 93, making it a walker’s paradise. This multifamily is in the attendance area of Washington Elementary School, Santa Barbara Junior High School, and Santa Barbara High School.

Listing Courtesy of: CRMLS_CA and Beachside Partners. Based on information from California Regional Multiple Listing Service, Inc. as of 17:05 on Apr 18.

This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.