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$3,650,000

  • Sold
  • Closed
  • Multi-Family
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Save This Home
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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 Olive St

General

  • Sold For: $3,650,000
  • Status: Closed
  • Type: Multi-Family
  • Source: SBAOR
  • MLS ID: 24-3988
  • Added to Site: 379 day(s) ago

Location

  • Area: 15 - SB/EAST OF STATE
  • County: Santa Barbara
  • Subdivision: 15 or 20 - Downtown
  • Cross Streets: Cota

School Information

  • Elementary School: Franklin
  • Middle School: S.B. Jr.
  • High School: S.B. Sr.

Structural Information

  • Year Built: 2024

Lot Features

  • Lot Size (Acres): 0.23
  • Lot Size (Sq. Ft.): 10,018.8
  • Lot Size: .23
  • Zoning: C-M

Financial Considerations

  • Terms: Cash, Conventional

Disclosures and Reports

  • Property ID: 031-171-009

Listed by Beachside Partners
Sold by Beachside Partners

Listing agents

— 618 Olive St —

  • Beachside Partners

  • Beachside Partners

Get Pre-Approved Today

Be ready to buy your new home!

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 Olive St

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 Olive St

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
Sold by Beachside Partners

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Price Reduced near 618 Olive St

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Recent Sales near 618 Olive St

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

618 E Olive  Santa Barbara, CA 93101

  • Multi-Family
  • Closed
118 Chapala St, Santa Barbara, CA 93101 - Photo 1 Sold
$3,135,000

118 Chapala St  Santa Barbara, CA 93101

  • Multi-Family
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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
$3,875,680

530 Chapala St  Santa Barbara, CA 93101

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618 Olive Street, Santa Barbara, CA 93101 (MLS# 24-3988) is a Multi-Family property that was sold at $3,650,000 on November 07, 2025. Want to learn more about 618 Olive Street? Do you have questions about finding other Multi-Family real estate for sale in East Of State? You can browse all East Of State real estate or contact a Coldwell Banker agent to request more information.