618 East Olive
$3,795,000
14
6,000
6,000
$633
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,...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.
- Listed by Jonathan Standring • DRE #01893163 • Brokerage DRE #02001768 • Beachside Partners • jon@beachsidepartners.com
- Listed by Lori Zahn • DRE #01914851 • Brokerage DRE #01914851 • Lori Zahn, Broker
Property Details for 618 East Olive
View
None
Parking Spaces Total0
Private PoolNo
Lot Size SourceAssessor
Property Attached YNtrue
Common Walls1 Common Wall, No One Below, No One Above
New ConstructionYes
Average 2 Bed Area900
LISTING UPDATED: 01/03/2025 07:33 AM
Property Details for 618 East Olive
Status | Active |
---|---|
MLS # | V1-27351 |
Days on Market | 3 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 2024 |
Lot Size | 0.23 AC / 10,018 SF |
County | Santa Barbara |
Building Information for 618 East Olive
Stories2Residences-Year Built2024Building Size-Lot Size0.23 AC / 10,018 SF
Property Information for 618 East Olive
Property History for 618 East Olive
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
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