Santa Barbara, CA 93101 618 E Olive
$3,795,000
8 more
Presented By: Jonathan Standring with Beachside Partners; jon@beachsidepartners.com
Beds • 14
Baths • 12
SQFT • 6,000
Year Built • 2024
Home Details
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.
Presented By: Jonathan Standring with Beachside Partners; jon@beachsidepartners.com
Interior Features for 618 E Olive
Bathrooms
Total Baths
Other Interior Features
Air Conditioning Y/NYes
Basement (Y/N)No
Common WallsOneCommonWall, NoOneAbove, NoOneBelow
Fireplace FeaturesNone
Fireplace Y/NNo
FlooringCarpet, Laminate, Tile
Heating Y/NYes
Laundry FeaturesSeeRemarks
Total Stories2
General for 618 E Olive
Additional Parcels Y/NNo
Attached Garage No
Carport Y/NNo
CitySanta Barbara
Community FeaturesGutters, Park
CountySanta Barbara
Current FinancingNone
DirectionsDowntown Santa Barbara
ElectricVolts220
Electric On Property Y/NNo
Garage Spaces0.0
Garage Y/NNo
Gross Income0.0
HOANo
HOA Fee$0.0
Home Warranty Y/NNo
Insurance Expense12000.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsMultiSplit
Listing TermsCash, CashToNewLoan, Exchange1031
Lot Size Square Feet10018.8
Lot Size UnitsAcres
MLS AreaVC81 - Santa Barbara
MobileHomeRemainsYNNo
Net Operating Income207751.0
New ConstructionYes
Number of Units Leased6
Operating Expense90816.0
Pool FeaturesNone
Property Attached Y/NYes
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Subdivision NameNot Applicable
Total Actual Rent25650.0
Trash Expense3600.0
ViewNone
Year Built2024
Year Built SourceSeeRemarks
ZoningC-M
Exterior for 618 E Olive
Building Area Total6000.0
Crops Included Y/NNo
FencingMasonry, SeeRemarks
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesNearPark, NearPublicTransit
Lot Size Acres0.23
Lot Size Area0.23
Lot Size SourceAssessor
Number of Buildings4
Number of Separate Electric Meters6
Number of Separate Gas Meters4
Number of Separate Water Meters4
Open Parking Y/NNo
Parking FeaturesNone
Private PoolNo
SpaNo
Total Parking0.0
WaterfrontY/NNo
Additional Details
Price History
