618 E Olive
Santa Barbara, CA 93101
Active for $3,795,000
Beds: N/A Baths: Structure Size: N/A sqft Lot Size: 10,019 sqft
| MLS | V127351 |
| Year Built | 2024 |
| Property Type | |
| County | Santa Barbara |
| Status | Active |
| Active | $3,795,000 |
| Structure Size | N/A sqft |
| Lot Size | 10,019 sqft |
| Beds | N/A |
| Baths |
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.
Listing information courtesy of: Jonathan Standring, Beachside Partners (805) 626-0112. *Based on information from the Association of REALTORS/Multiple Listing as of 01/10/2025 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Location
Contact a Local Realtor®
Jon Javier Otworth
REALTOR®
Direct: 818.564.5062
Email: Email Me
DRE: 01491726
DRE #01873088
.png){kind=small}