CA > Santa Barbara
Santa Barbara, CA 93101,618 E Olive
Santa Barbara, CA 93101,618 E Olive
Santa Barbara, CA 93101,618 E Olive
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$3,795,000
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10,018 Sqft Lot
New

618 E Olive Santa Barbara, CA 93101

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Steve Gilbert

Steve Gilbert

+1(619) 743-8823

UPDATED:

01/03/2025 11:33 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID V1-27351

HOA Y/N No

Year Built 2024

Lot Size 10,018 Sqft

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.

Location

State CA

County Santa Barbara

Area Vc81 - Santa Barbara

Zoning C-M

Interior

Flooring Carpet, Laminate, Tile

Fireplaces Type None

Fireplace No

Laundry See Remarks

Exterior

Parking Features None

Fence Masonry, See Remarks

Pool None

Community Features Gutter(s), Park

View Y/N No

View None

Private Pool No

Building

Lot Description Near Park, Near Public Transit

Story 2

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction Yes

Others

Senior Community No

Tax ID 031171009

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

California Regional MLS (CRMLS)
Listed by Jonathan Standring • Beachside Partners • jon@beachsidepartners.com

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Steve Gilbert

Agent | License ID: 00813555

+1(619) 743-8823

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618 E Olive