618 Olive Street
$3,795,000
6
3
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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 P Standring • DRE #01893163 • Beachside PartnersP: (805)-453-5097 C: (805)-626-0112 jon@beachsidepartners.com
- Listed by Lori Zahn • DRE #01914851 • Beachside PartnersP: (805)-451-2712 lori@beachsidepartners.com
Property Details for 618 Olive Street
MLS Neighborhood
15 or 20 - Downtown
ZoningC-M
Zoning:C-MYes
Location Info:Cross StreetCota
Property Information:Recurring FeesNo
LISTING UPDATED: 01/02/2025 12:15 AM
Property Details for 618 Olive Street
Status | Active |
---|---|
MLS # | 24-3988 |
Days on Market | 5 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income / Multi-Family |
Year Built | 2024 |
Lot Size | 0.23 AC / 10,018 SF |
County | Santa Barbara County |
Building Information for 618 Olive Street
Stories2Residences6Year Built2024Building Size-Lot Size0.23 AC / 10,018 SF
Property Information for 618 Olive Street
Property History for 618 Olive Street
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.
Schools near 618 Olive Street
This home is within Santa Barbara Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 6 | |||
Public - | 7 to 8 | |||
Public - | 9 to 12 | |||
Public - | 7 to 8 |
Rating | School | Distance |
---|---|---|
Washington Elementary School PublicK to 6 | ||
Santa Barbara Junior High School Public7 to 8 | ||
Santa Barbara Senior High School Public9 to 12 | ||
Alta Vista Alternative High School Public7 to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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