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.
Property Details
Price:
$3,795,000
MLS #:
V1-27351
Status:
Active
Baths:
0
Type:
Residential Income
Neighborhood:
vc81santabarbara
Listed Date:
Jan 3, 2025
Lot Size:
10,018 sqft / 0.23 acres (approx)
Year Built:
2024
See this Listing
Schools
Interior
Flooring
Carpet, Tile, Laminate
Laundry Features
See Remarks
Exterior
Community Features
Gutters
Parking Features
None
Parking Spots
0.00
Financial
Map
Community
- Address618 E Olive Santa Barbara CA
- NeighborhoodVC81 – Santa Barbara
- CitySanta Barbara
- CountySanta Barbara
- Zip Code93101
Market Summary
Current real estate data for Residential Income in Santa Barbara as of Sep 03, 2025
6
Residential Income Listed
175
Avg DOM
$2,965,333
Avg List Price
Property Summary
- 618 E Olive Santa Barbara CA is a Residential Income for sale in Santa Barbara, CA, 93101. It is listed for $3,795,000 To schedule a showing of MLS#v1-27351 at 618 E Olive in Santa Barbara, CA, contact your Outland and Associates Real Estate agent at 8054813939.
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