$3,795,000

618 Olive St Santa Barbara, CA 93101

Lower East Neighborhood

Estimated payment $24,014/month

Total Views 11,368
-- Bed
-- Bath
-- Sq Ft
-- Price per Sq Ft

About This Home

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.

Listing Agent

Jon Standring

Beachside Partners License #01893163 Listed on: 01/02/2025

Co-Listing Agent

Lori Zahn

Beachside Partners License #01914851

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 2024

Schools

  • Franklin Elementary School
  • S.B. Jr. Middle School
  • S.B. Sr. High School

Additional Features

  • 2-Story Property
  • 10,019 Sq Ft Lot

Community Details

  • 6 Units
  • 15 Or 20 Downtown Subdivision

Listing and Financial Details

  • Assessor Parcel Number 031-171-009
  • Seller Considering Concessions

Property Details

Home Type

Multi-Family

Year Built

Built in 2024

Lot Details

0

Listing Details

  • Prop. Type: ResidentialIncome
  • Year Built: 2024
  • Building Stories: 2
  • Co List Office Mls Id: jonsta
  • Co List Office Phone: 805-626-0112
  • Subdivision Name: 15 or 20 - Downtown
  • Property Information Year Built2: 2024
  • Property Information Apx # Acres: 0.23
  • NeighborhoodSchools Elementary School: Franklin
  • NeighborhoodSchools Junior High School: S.B. Jr.
  • NeighborhoodSchools High School: S.B. Sr.
  • General Property Information Stories2: 2.0
  • Special Features: NewHome
  • Property Sub Type: MultiFamily
  • Stories: 2

Exterior Features

  • Acres: 0.23

Schools

  • Elementary School: Franklin
  • High School: S.B. Sr.
  • Middle Or Junior School: S.B. Jr.

Lot Info

  • Parcel #: 031-171-009
  • Zoning: C-M
  • Lot Size Sq Ft: 10018.8
  • ResoLotSizeUnits: Acres
  • ResoLotSizeUnits: Acres

Multi Family

  • Number Of Units Total: 6

Map

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/02/2025 01/02/25 For Sale $3,795,000 -- --
Source: Santa Barbara Multiple Listing Service

Source: Santa Barbara Multiple Listing Service

MLS Number: 24-3988

Santa Barbara Multiple Listing Service

APN: 031-171-009

California Santa Barbara County Santa Barbara 93101 Lower East

618 Olive St, Santa Barbara, CA

This home is located at 618 Olive St, Santa Barbara, CA 93101 and is currently priced at $3,795,000. This property was built in 2024. 618 Olive St is a home located in Santa Barbara County with nearby schools including Washington Elementary School, Santa Barbara Junior High School, and Santa Barbara Senior High School.

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Jon Standring
Listing Agent
Jon Standring
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Beachside Partners
(805) 691-0539