#24-2128, Christos Celmayster, Listing Office: Hayes Commercial Group
Property details
About 618 Olive St
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
Home typeMulti Family
StatusActive
Lot size0.23 Acres
Year built2024
MLS #24-3988
Summary
- MLS Number: 24-3988
- MLS Name: Santa Barbara Multiple Listing Service
- Office Name: Beachside Partners
- Office Phone: (805) 626-0112
- Office Email: jon@beachsidepartners.com
- Listing Agent: Jonathan P Standring, Lori Zahn
The data relating to real estate for sale on this web site comes from the Internet Data Exchange Program of the Santa Barbara Multiple Listing Service. Real estate listings held by other are marked with the “MLS” logo and detailed information about them includes the name of the listing brokers. Based on information from the Santa Barbara MLS. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Displays of minimal information (e.g., “thumbnails”, text messages, “tweets”, etc., of two hundred [200] characters or less) are exempt from this requirement but only when linked directly to a display that includes all required disclosures. Audio delivery of listing content is exempt from this disclosure requirement only when all required disclosures are subsequently delivered electronically to the registered consumer performing the property search or linked to through the device’s application. Copyright 2025 Santa Barbara Multiple Listing Service. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/13/2025, 11:20:56 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Get an agent. Get a mortgage. Save big.¹
$3,795,000
618 Olive St
Sell your home with Rocket and save even more!
Seller rebate
0.5% sale price²
Price information
Property sales
We're sorry, we currently don't have property sales data for this listing.
Tax history
We're sorry, we currently don't have tax history data for this listing.
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. Typical income of Santa Barbara, CA residents is less than $<35k annually. Most families are single, no kids. The majority of residents in this area have high school diploma education.
How much money do the neighbors make?
53%
<35k
38%
35k-100k
8%
100k-200k
1%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
Doctorate
What types of families live nearby?
66%
Single, No Kids
12%
Single, with Kids
13%
Married, No Kids
9%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
12%
<11 yrs old
7%
12-17 yrs old
28%
18-34 yrs old
35%
35-64 yrs old
18%
65+ yrs old
What do the neighbors do for fun?
Figure Skating
Pro Boxing
Major League Soccer (MLS)
Where do the neighbors shop?
Family Dollar
Burlington
Chico's
Where do the neighbors go to eat?
Church's Chicken
Popeyes
Bob Evans
What do the neighbors drive?
Cadillac
Dodge
Oldsmobile
What do the neighbors listen to?
Jazz
Urban Contemporary
News
All data provided by Home Junction and Claritas
Similar homes for sale
2 days on Rocket
#25-989, Ken Switzer, Listing Office: Berkshire Hathaway HomeServices California Properties
$10,000 Closing Credit¹
#24-3943, Shelley Cole, Listing Office: Coldwell Banker Realty
$10,000 Closing Credit¹
#25-547, Mitch Stark, Listing Office: Berkshire Hathaway HomeServices California Properties
$10,000 Closing Credit¹
#25-820, Ali Evans, Listing Office: Berkshire Hathaway HomeServices California Properties
$10,000 Closing Credit¹
#25-788, Christos Celmayster, Listing Office: Hayes Commercial Group
1 day on Rocket
$10,000 Closing Credit¹
#25-1004, Dean Vanecek, Brad Frohling, Listing Office: Keller Williams Realty Santa Barbara, Radius Group Commercial R.E.
This home is located at 618 Olive St in Santa Barbara, CA and zip code 93101 in the Eastside neighborhood. Features: 0 bathroom. It has been listed on Rocket Homes since January 2, 2025 and is currently priced at $3,795,000.
Over 27 listings were sold over their listed price in February 2025 in Santa Barbara, CA. In the same period over 44 listings were sold below the listed price and 10 listings were sold for the listed price. In February 2025 in Santa Barbara, CA there were 9.8% more homes for sale than in January. Listings spent 38 days on the market in February 2025, and had a median list price of $2,103,857 during the same period.
From Rocket Homes Real Estate and based on county public records data.