Sold for $3,650,000

Listing Provided by: Beachside Partners

Bought with: Beachside Partners

$3,650,000

618 E Olive, Santa Barbara, CA 93101

14beds

12baths

6,000sqft

Multi Family

Built in 2024

-- sqft lot

$3,733,000 Zestimate^®

$608/sqft

$5,158 Estimated rent

Home value

$3,733,000

$3.36M - $4.14M

$5,158/mo

Zestimate^® history

Owner options

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$5,158/mo

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$5,158/mo

Rent Zestimate^®

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$22,814/mo

Est. payment

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$22,814/mo

Est. payment

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What's special

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.

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 14
Bathrooms: 12

Heating

Has Heating (Unspecified Type)

Cooling

Has cooling: Yes

Appliances

Laundry: See Remarks

Features

Flooring: Carpet, Laminate, Tile
Has fireplace: No
Fireplace features: None
Common walls with other units/homes: 1 Common Wall,No One Above,No One Below

Interior area

Total structure area: 6,000
Total interior livable area: 6,000 sqft

Property

Parking

Parking features: None

Features

Levels: Multi/Split
Pool features: None
Spa features: None
Fencing: Masonry,See Remarks
Has view: Yes
View description: None

Lot

Size: 10,018 sqft
Features: Near Park, Near Public Transit

Details

Parcel number: 031171009
Zoning: C-M
Special conditions: Standard

Construction

Type & style

Home type: MultiFamily
Property subtype: Multi Family
Attached to another structure: Yes

Condition

New construction: Yes
Year built: 2024

Utilities & green energy

Electric: 220 Volts

Community & neighborhood

Community

Community features: Gutter(s), Park

Location

Region: Santa Barbara
Subdivision: Not Applicable

HOA & financial

Other financial information

Total actual rent: 25650

Other

Other facts

Listing terms: Cash,Cash to New Loan,1031 Exchange

Price history

Date	Event	Price
11/7/2025	Sold	$3,650,000-3.8%$608/sqft
Source: CRMLS #V1-27351 Report a problem
10/9/2025	Pending sale	$3,795,000$633/sqft
Source: CRMLS #V1-27351 Report a problem
1/3/2025	Listed for sale	$3,795,000$633/sqft
Source: CRMLS #V1-27351 Report a problem