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Listed by Jonathan Standring • Beachside Partners
$3,795,000
Est. payment /mo
6,000 SqFt
Active
618 East Olive Santa Barbara, CA 93101
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 6,000 sqft
Price per Sqft $632
MLS Listing ID V1-27351
Year Built 2024
Lot Size 10,019 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
Laundry See Remarks
Exterior
Parking Features None
Pool None
Community Features Gutters
View Y/N No
View Other View, None
Building
Lot Description Sprinklers, Near Public Transit, Park Nearby