618 Olive ST Street Santa Barbara, CA 93101

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Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Subdivision 15 Or 20 - Downtown

MLS Listing ID 24-3988

Year Built 2024

Lot Size 10,018 Sqft

Acres 0.23

Lot Dimensions 10018.8

Source Santa Barbara Multiple Listing Service

Property 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, 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.

Location

State CA

County Santa Barbara

Community 15 Or 20 - Downtown

Others

Tax ID 031-171-009

Acceptable Financing Cash, Ctnl

Listing Terms Cash, Ctnl

Listed by Beachside Partners

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Mason Frakes

Broker Associate | License ID: 02036823

+1(805) 260-4860

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