#24-3788, Summer Knight, Listing Office: Sun Coast Real Estate
618 E Olive Santa Barbara, CA 93101
Property details
About 618 E Olive
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.
Highlights
Summary
- MLS Number: V1-27351
- MLS Name: CRMLS
- Office Name: Beachside Partners
- Office Email: jon@beachsidepartners.com
- Listing Agent: Jonathan Standring
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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Last updated on: 3/13/2025, 11:20:54 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$3,795,000
618 E Olive
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Price information
Property sales
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Tax history
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Nearby schools
5
Adelante Charter
Public Charter KG-6
0.7 mi
•1102 E Yanonali St
7
Franklin Elementary School
Public District PK-6
0.8 mi
•1111 E Mason St
5
Cleveland Elementary School
Public District PK-6
1.2 mi
•123 Alameda Padre Serra
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $31,351. The majority of Santa Barbara, CA residents have income less than $<35k annually. Most families are single, no kids. Residents of this area typically have high school diploma education.
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Frequently asked questions
About 618 E Olive
This home is located at 618 E Olive in Santa Barbara, CA and zip code 93101 in the Eastside neighborhood. Features: 0 bathroom. It has been listed on Rocket Homes since January 3, 2025 and is currently priced at $3,795,000.
In February 2025, from all listings sold in Santa Barbara, CA there were more than 27 sold above asking price, over 44 sold below and more than 10 were sold right at the asked price. The inventory of homes for sale in Santa Barbara, CA between January and February 2025 increased by 9.8%. The median list price of listings available in February 2025 was $2,103,857, while the average time on the real estate market was 38 days.