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$3,650,000

  • Sold
  • Closed
  • Multi-Family
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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.

Full Property Details for 618 E Olive

General

  • Sold For: $3,650,000
  • Status: Closed
  • Type: Multi-Family
  • Source: MRMLS
  • MLS ID: V1-27351
  • Added to Site: 378 day(s) ago

Interior

  • Fireplace(s): None
  • Flooring: Carpet, Tile, Laminate

Rooms

Other Rooms

  • Laundry: See Remarks

Additional Information

  • Pool Description: None
  • Spa Description: None

Parking

  • Parking Features: None
  • Parking: None

Location

  • Area: VC81 - Santa Barbara
  • County: Santa Barbara
  • Development Name: VC81 - Santa Barbara
  • Driving Directions: Downtown Santa Barbara

Utilities

  • # Water Meters: 4
  • # Gas Meters: 4
  • # Electric Meters: 6

Structural Information

  • Stories/Levels: Multi/Split
  • Stories Description: Multi/Split
  • Square Feet: 6,000
  • Year Built: 2024

Unit Information

Unit 1

  • Total Bathrooms: 2
  • Bedrooms: 3

Unit 2

  • Total Bathrooms: 2
  • Bedrooms: 2

Unit 3

  • Total Bathrooms: 2
  • Bedrooms: 3

Unit 4

  • Total Bathrooms: 2
  • Bedrooms: 2

Unit 5

  • Total Bathrooms: 2
  • Bedrooms: 2

Unit 6

  • Total Bathrooms: 2
  • Bedrooms: 2

Lot Features

  • Property View: None
  • Lot Size (Acres): 0.23
  • Lot Size Source: Assessor
  • Zoning: C-M
  • Lot Description: Near Public Transit, Park Nearby

Financial Considerations

  • Price Per Sq. Ft.: $608.33

Listed by Beachside Partners, Jonathan Standring and Lori Zahn, Broker, Lori Zahn
Sold by Beachside Partners, Jonathan Standring

Listing agents

— 618 E Olive —

  • Jonathan Standring

    Beachside Partners

  • Lori Zahn

    Lori Zahn, Broker

jon@beachsidepartners.com

Get Pre-Approved Today

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with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 618 E Olive

School District:Santa Barbara Unified School District
NameGradesDistance
Washington Elementary School, Santa Barbara, CA
290 Lighthouse Road, Santa Barbara, CA 93109
K-62.4 mi
Santa Barbara Junior High School
721 East Cota Street, Santa Barbara, CA 93103
7-80.3 mi
Santa Barbara Senior High School
700 East Anapamu Street, Santa Barbara, CA 93103
9-120.6 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 618 E Olive

Date
Details
Price
Change
Source
11/07/2025
Sold
$3,650,000
-3.82%
MLS
1/02/2025
Listed
$3,795,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Listed by Beachside Partners, Jonathan Standring and Lori Zahn, Broker, Lori Zahn
Sold by Beachside Partners, Jonathan Standring

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Recent Sales near 618 E Olive

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618 Olive St, Santa Barbara, CA 93101 - Photo 1 Sold
$3,650,000

618 Olive St  Santa Barbara, CA 93101

  • Multi-Family
  • Closed
118 Chapala St, Santa Barbara, CA 93101 - Photo 1 Sold
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403 E Anapamu St, Santa Barbara, CA 93101 - Photo 1 Sold
$3,344,788

403 E Anapamu St  Santa Barbara, CA 93101

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530 Chapala St, Santa Barbara, CA 93101 - Photo 1 Sold
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618 E Olive, Santa Barbara, CA 93101 (MLS# V1-27351) is a Multi-Family property that was sold at $3,650,000 on November 07, 2025. Want to learn more about 618 E Olive? Do you have questions about finding other Multi-Family real estate for sale in Santa Barbara? You can browse all Santa Barbara real estate or contact a Coldwell Banker agent to request more information.