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Bruce Kang, Broker
618 E Olive, Santa Barbara, CA 93101
- $3,650,000
- Sold Price
- $3,650,000
- List Price
- $3,795,000
- Status
- CLOSED
- Days on Market
- 242
- Closing Date
- Nov 07, 2025
- MLS#
- V1-27351
- Subtype
- Residential Income
- New Construction
- Yes
- Year Built
- 2024
- Lot Size
- 10,018
- Acres
- 0.23
- Subdivision
- Not Applicable
- Neighborhood
- Not Applicable
- MLS Area Major
- Santa Barbara (VC81)
Property Description
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.
Additional Information
- Zoning
- C-M
- Flooring
- Carpet, Laminate, Tile
- Air Conditioning
- Yes
- Stories
- Multi Level
- Levels
- Multi/Split
- Pool Type
- None
- Parking Features
- None
- View
- None
Listing courtesy of Listing Agent: Jonathan Standring (jon@beachsidepartners.com) from Listing Office: Beachside Partners.
Listing sold by Jonathan Standring from Beachside Partners
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . 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.