618 E Olive Santa Barbara, CA 93101
Active
$3,795,000
Units
14 Beds
12 Baths
6,000 Area(sq.ft.)
10,018 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| No data available in table | |||||||
| 0 | 0 | $ 0 | $ 0 | $ 0 | |||
| MLS #: | V1-27351VC |
| Days On Market: | 0 |
| County: | Santa Barbara |
| Property Type: | Residential Income |
| Price per ft2: | $ 633 |
| Year Built: | 2024 |
Property Details
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.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Rent Control: | Yes |
| Total Annual Expense: | $ 90,816 |
| Net Operating Income: | $ 207,751 |
| Gross Rent Multiplier: | 12.10 |
| Actual Gross Rent: | $ 25,650 |
Structure
| Community Features: | Gutters |
| View Description: | None |
Land & Parking
| Zoning: | C-M |
| Land Lease Type: | Fee |
| Parking Garage: | None |
Interior
| Fireplace Rooms: | None |
| Laundry: | Other |
Exterior
| Pool: | No |
| Spa: | No |
Detailed Map
Schools
Find a great school for your child
Income
