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.
For sale
$3,795,000
618 Olive St, Santa Barbara, CA 93101
6beds
3baths
--sqft
Est.:
Multi Family
Built in 2024
-- sqft lot
$3,540,200 Zestimate®
$--/sqft
$-- HOA
What's special
- 221 days
- on Zillow |
- 238 |
- 11 |
Zillow last checked: 7 hours ago
Listing updated: April 08, 2025 at 11:22am
Listed by:
Jonathan P Standring 01893163 805-453-5097,
Beachside Partners,
Lori Zahn 01914851 805-451-2712,
Beachside Partners
Source: SBMLS,MLS#: 24-3988

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 3
Features
- Has fireplace: No
Property
Features
- Stories: 2
Lot
- Size: 10,018.8 Square Feet
Details
- Parcel number: 031171009
- Zoning: C-M
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Condition
- Year built: 2024
Community & HOA
Community
- Subdivision: 15 or 20 - Downtown
Location
- Region: Santa Barbara
Financial & listing details
- Date on market: 1/2/2025
- Listing terms: Cash,Ctnl
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