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Listed by Jonathan Standring • Beachside Partners
$ 3,795,000
Est. payment /mo
Active
618 E Olive Santa Barbara, CA 93101
UPDATED:
Key Details
Property Type Multi-Family, Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRV1-27351
Originating Board California Regional MLS
Year Built 2024
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
Interior
Flooring Laminate
Exterior
Parking Features No Parking
Pool 31, None
View None
Building
Story Split Level
Others
Tax ID 031171009
Special Listing Condition Not Applicable
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