$3,795,000
Est. payment /mo
10 Beds
8 Baths
Active
618 E Olive Santa Barbara, CA 93101
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID V1-27351
Bedrooms 10
Property Sub-Type Res Income 2-4 Units
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
Zoning See Remark
Direction Downtown Santa Barbara
Interior
Fireplace No
Exterior
Fence Other/Remarks
View Y/N No
Building
Story 2
Level or Stories 2
Others
Tax ID 031171009
Listed by Jonathan Standring Beachside Partners