618 E Olive
Santa Barbara, CA 93101
- 10 beds
- – baths
- 6,000 sqft
- 10,018 sqft lot
- $632 per sqft
- 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.
Last checked:
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Last updated Jan 17, 2025
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MLS# CRV1-27351 —
This property is listed in more than one place. See it here.
The Building
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Year Built:2024
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Building Area Units:Square Feet
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Building Area Total:6000
Interior
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Flooring:Laminate
Room Dimensions
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Living Area:6000
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Living Area Units:Square Feet
Location
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Directions:Downtown Santa Barbara
The Property
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Property Type:Residential Income
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Property Subtype:OTHER
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Exterior Features:Other
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Parcel Number:031171009
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Zoning:C-M
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Lot Features:Other
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Lot Size Area:0.23
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Lot Size Acres:0.23
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Lot Size SqFt:10018
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Lot Size Units:Acres
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View:None
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View:false
Listing Agent
- Contact info:
- Agent phone:
- (805) 626-0112
Beds
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Bedrooms Total:10
The Listing
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Listing TermsCash
Appliances
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Laundry Features:See Remarks
The Community
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Association:false
Parking
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Garage:false
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Attached Garage:false
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Carport:false
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Parking Features:None
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
1/3/25
Jan 3, 2025
|
Listed / Active | BRIDGE | $3,795,000 |
