$3,650,000

618 Olive Street, SANTA BARBARA CA, 93101

Price per sqftN/A

Built in2024

Property typeResidential

Courtesy of Jonathan P Standring, Beachside Partners

Overview

Sold

Closed

Listed Jan 2, 2025

Updated Jun 10

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.

Additional information

MLS^® ID: 24-3988

Interior Features

Bedrooms: 6
Bathrooms: 3
Basement: No

Exterior Features

Lot Size: 0.23 Acres

Listed by Beachside Partners, Jonathan P Standring,
Listing Contact: [email protected]

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Data last updated 7:04 PM UTC, 6/10/2026