618 E Olive Santa Barbara, CA ^$ 3,795,000

618 E Olive

^$ 3,795,000

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New Construction

618 E Olive

Santa Barbara, CA, 93101

^$ 3,795,000

Bedrooms14 Baths12.0 Sq 6,000

Monthly Estimate*

^$ 23,676

Listed by Beachside Partners

618 E Olive, Santa Barbara, CA 93101 - Image 1

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618 E Olive, Santa Barbara, CA 93101 - Image 3

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618 E Olive, Santa Barbara, CA 93101 - Image 5

618 E Olive, Santa Barbara, CA 93101 - Image 6

618 E Olive, Santa Barbara, CA 93101 - Image 7

618 E Olive, Santa Barbara, CA 93101 - Image 8

618 E Olive, Santa Barbara, CA 93101 - Image 9

618 E Olive, Santa Barbara, CA 93101 - Image 10

618 E Olive, Santa Barbara, CA 93101 - Image 11

618 E Olive, Santa Barbara, CA 93101 - Image 12

618 E Olive, Santa Barbara, CA 93101 - Image 13

Multi-Family Home for sale in Santa Barbara, CA

for $3,795,000 with 14 bedrooms and 12 full baths. This 6,000 square foot home was built in 2024 on a lot size of 0.23.

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.

Multi-Family Pending

Price

^$ 3,795,000

Bedrooms

Full Bath

Property Type

Multi-Family

Taxes

^$ 0

Style

Lot Size

0.23

Year Built

2024

Town/City

Santa Barbara

County/Region

Santa Barbara

MLS | Web ID

V127351

Days on Market

345

Features

General

Zoning C-M

HOA Fee 0.0

Garage Spaces 0.0

Pool Features None

Year Built 2024

Electric Volts220

View None

Levels MultiSplit

Gross Income 0.0

Community Features Gutters Park

County Santa Barbara

Net Operating Income 207751.0

Operating Expense 90816.0

Insurance Expense 12000.0

New Construction Y

Property Type ResidentialIncome

HOA N

Attached Garage N

Subdivision Name Not Applicable

Garage Y/N N

Special Listing Conditions Standard

Status Pending

Directions Downtown Santa Barbara

City Santa Barbara

Senior Community Y/N N

MLS Area VC81 - Santa Barbara

Lot Size Units Acres

Lot Size Square Feet 10018.8

Carport Y/N N

Number of Units Leased 6

Listing Terms Cash CashToNewLoan Exchange1031

Spa Features None

Property Attached Y/N Y

Land Lease Y/N N

Home Warranty Y/N N

Current Financing None

Trash Expense 3600.0

Lease Renewal Y/N N

Additional Parcels Y/N N

Lease Considered Y/N N

Rent Control Y/N Y

Standard Status Pending

Year Built Source SeeRemarks

Total Actual Rent 25650.0

Interior

Flooring Carpet Laminate Tile

Fireplace Features None

Total Stories 2

Common Walls OneCommonWall NoOneAbove NoOneBelow

Basement (Y/N) N

Air Conditioning Y/N Y

Heating Y/N Y

Fireplace Y/N N

Laundry Features SeeRemarks

Total Baths 0

Exterior

Fencing Masonry SeeRemarks

Parking Features None

Lot Features NearPark NearPublicTransit

Total Parking 0.0

Lot Size Area 0.23

Number of Buildings 4

Spa N

Building Area Total 6000.0

Lot Size Acres 0.23

Private Pool N

Lot Size Source Assessor

Waterfront Y/N N

Number of Separate Water Meters 4

Number of Separate Gas Meters 4

Number of Separate Electric Meters 6

Crops Included Y/N N

Horse Y/N N

Irrigation Water Rights Y/N N

Internal Only

Street Number 1 618

* Excluded Features

List By

Beachside Partners

Broker

(805) 626-0112

Phone

Affordability Calculator

$23,676

Per Month

Monthly Principal & Interest: $23,676
Monthly Property Taxes: --
Monthly Home Insurance: --

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Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Multi-family listings in Santa Barbara, CA

Average List Price ^$4,541,911

Percent of Sale Price 20%

About Santa Barbara, CA

90,478 Population

-2% Since 2002

^$73,259 Median Income

38.49 Median Age

23% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

273443 Elementary School

272636 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
5/15/2025	$3,795,000		Listed Price

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618 E Olive, Santa Barbara, CA, 93101 is a Multi-Family Home for sale at $3,795,000 with 6,000 sqft and a lot size of 0.23. 618 E Olive has 14 bedrooms, 12.0 baths, and was built in 2024. The property's zip code is 93101 which is in Santa Barbara, CA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Listing data provided courtesy of the Internet Data Exchange Program of the California Regional Multiple Listing Service, Inc..

Based on information from California Regional Multiple Listing Service, Inc. as of 12/14/2025. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. 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.

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618 E Olive

Multi-Family Home for sale in Santa Barbara, CA

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