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    618 E Olive St Santa Barbara, CA 93101

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    For Sale
    $3,795,000

    Multifamily property in downtown Santa Barbara with new and renovated units.

    Lot size:
    0.23 Acres

    Property Features for 618 E Olive St

    General Information

    Lot size
    0.23 Acres

    Building Details

    Year built
    2024

    Source: Lori Zahn, Broker Agent Lori Zahn

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Santa Barbara Multifamily Investment Property

    This multifamily investment property is located in downtown Santa Barbara. The property features a mix of newly constructed and renovated buildings. Three of the six units were built from the ground up between 2023 and 2024. The remaining three units have been extensively improved. All units have market rents in place. The property is offered at a current 5.47% cap rate and a GRM of 12.71, making it suitable for investors seeking a more passive investment. The property has a Walk Score of 94 and a Bike Score of 99, providing easy access to destinations such as Arnoldi's, an Italian restaurant, and the Haley corridor. The total current monthly income is $25,650.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Restaurant Law Firm Dental Office Spa & Massage Hair Salon Nail Salon Daycare Center Building Supply Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Santa Barbara
    County
    Santa Barbara
    State
    California
    Longitude
    -119.6914072
    Latitude
    34.4237258

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    FAQs

    What type of property is this?
    Apartment building - Multifamily property in downtown Santa Barbara with new and renovated units.
    Where is this apartment building located?
    The property is located at 618 E Olive St Santa Barbara, CA.
    What is the asking price?
    The asking price for this property is $3,795,000.
    What are key features of this property?
    This property features: - Prime downtown Santa Barbara location with **exceptional walkability (Walk Score 94) and bikeability (Bike Score 99)**.; - Mix of **newly constructed (2023-2024) and extensively renovated units**, ensuring modern appeal and reduced maintenance.; - Strong income potential with current total monthly income of $25,650.
    (805) 626-3150
    Request Owner's contact information
    618 E Olive St Santa Barbara, CA 93101
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    Santa Barbara, CA 93101
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    618 E Olive St Santa Barbara, CA 93101
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