618 Olive ST Street Pending Save Request In-Person Tour Request Virtual Tour
Santa Barbara,CA 93101
Key Details
Property Type Single Family Home
Listing Status Pending
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