3432 Richland Drive

Santa Barbara, CA 93105

$3,295,000
Price
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

3432 Richland Drive is a rare opportunity to purchase an attractive mid-size multi-family building in the center of Santa Barbara's Upper State corridor - a hub of restaurants, retail and financial services. The location is also within a mile of Cottage Hospital (Santa Barbara's largest private employer), and near the Municipal Golf Course, MacKenzie Park and La Cumbre Shopping Center. There are 8 units total in a single building, the unit mix is 1 x 2-BR/1-BA, 5 x 1-BR/1-BA and 2 studios. The property...3432 Richland Drive is a rare opportunity to purchase an attractive mid-size multi-family building in the center of Santa Barbara's Upper State corridor - a hub of restaurants, retail and financial services. The location is also within a mile of Cottage Hospital (Santa Barbara's largest private employer), and near the Municipal Golf Course, MacKenzie Park and La Cumbre Shopping Center. There are 8 units total in a single building, the unit mix is 1 x 2-BR/1-BA, 5 x 1-BR/1-BA and 2 studios. The property has good curb appeal with manicured landscaping, and is set privately in a corner location. Consider as a secure ongoing investment, or leverage the desirable central location for value-add upside. See Offering Memorandum in Documents for more details
  1. Listed by Ken Switzer • DRE #01245644 • Berkshire Hathaway HomeServices California Properties

Property Details for 3432 Richland Drive

Zoning
R-3
Cross Street
Broadmoor
Recurring Fees
No

Location

Listing Courtesy of Berkshire Hathaway HomeServices California Properties, Ken Switzer, DRE #01245644
Add your commute
LISTING UPDATED: 03/15/2024 03:44 PM

Property Details for 3432 Richland Drive

StatusActive
MLS #24-294
Days on Market87
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Multi-Family
Year Built1962
Lot Size0.22 AC / 9,583 SF
CountySanta Barbara County

Location

Listing Courtesy of Berkshire Hathaway HomeServices California Properties, Ken Switzer, DRE #01245644
Add your commute

Building Information for 3432 Richland Drive

Stories2Residences8Year Built1962Building Size-Lot Size0.22 AC / 9,583 SF

Payment Calculator

$20,234 per month

30 year fixed, 7.25% Interest

Principal and Interest

$17,982

Property Taxes

$2,252

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 3432 Richland Drive

Details
Features
  • District: 20 - SB/WEST OF STATE
  • Property Type: B
  • Laundry: Bldg
Parking/Garage
  • Parking Info: Uncovered
  • Total Unconvered Spaces: 8
Miscellaneous
  • Num Of Refrigerators: 8
  • Num Of Stoves: 8
  • Parking Spaces: 8
Location Info
Location Info
  • Tax Parcel Number: 051-061-018
  • LotLocation: Near Bus, Near Hospital, Near Park(s), Near School(s)
  • City: SANTA BARBARA
  • County: Santa Barbara
  • Postal Code: 93105
Neighborhood/Schools
  • Elementary School: Adams
  • High School: San Marcos
  • Junior High School: LaCumbre
Property / Assessor Information
Property / Assessor Info
  • Nbr of Acres: 0
  • Condition: Good
  • Foundation: Slab
  • Realtorcom Type: Multi-Family
  • Stories: 2
  • Total # Units: 8
Utility Info
  • Meters Sep Meter Elec: Y
  • Meters Sep Meter Gas: No
  • Meters Sep Meter Wtr: N
Income / Expense Info
Income / Expense Info
  • Income/Expenses: Estimated
  • Capitalization Rate: 4.23
  • NOI: 139223
  • Annual Income: $204,324
  • Insurance: $5,000
  • Maintenance Expense: $2,400
  • Electric Expense: $336
  • Gas Expense: $3,378
  • Taxes: $34,927
  • Total Annual Exp: $65,101
  • Total Monthly Exp: $5,425
  • Total Monthly Income: $17,027
  • Water Expense: $8,380
Unit Info
Unit 1 Info
  • Unit 1: Lease
  • Unit 1Furnished: N
  • Unit 1Num Of Baths: 1
  • Unit 1Num Of Bedrooms: 2
  • Unit 1Num Of Half Baths: 0
  • Unit 1Num Of Units: 1
  • Unit 1Monthly Total: $2,697
  • Unit 1Rent: $2,697
Unit 2 Info
  • Unit 2: Lease
  • Unit 2Num Of Baths: 1
  • Unit 2Num Of Bedrooms: 1
  • Unit 2Num Of Units: 5
  • Unit 2Monthly Total: $10,606
  • Unit 2Rent: $2,121
Unit 3 Info
  • Unit 3: Lease
  • Unit 3Num Of Baths: 1
  • Unit 3Num Of Bedrooms: 0
  • Unit 3Num Of Units: 1
  • Unit 3Monthly Total: $3,724
  • Unit 3Rent: $1,862
Contract Info
Contract Info
  • Deposit: 3
  • Exchange: Yes
  • List Price: $3,295,000.00
  • Terms: Cash, Ctnl
  • Status: Active

Property History for 3432 Richland Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 3432 Richland Drive

Taxable ValueLand$1,273,373Additions$1,273,373Total$2,546,746
Tax Record2023$27,020 ($2,252 / month)
Home Facts
Lot Size9,583 SqFtStyleMulti-Family Res (5+ Units)Year Built1962CountySANTA BARBARAAPN051-061-018

Schools near 3432 Richland Drive

This home is within Santa Barbara Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 7 to 8
Public - 9 to 12
Charter - K to 6
Rating
School
Distance
Adams Elementary School
PublicK to 6

La Cumbre Junior High School
Public7 to 8

San Marcos Senior High School
Public9 to 12

Peabody Charter School
CharterK to 6

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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3432 Richland Drive is a multi-family home for sale in Santa Barbara, CA 93105. This property was listed for sale on January 26, 2024 by Berkshire Hathaway HomeServices California Properties, it's currently listed at $3,295,000. It has been on the market for a total of 87 days and was last sold on March 15, 2022. This listing's school district is Santa Barbara Unified School District. Nearby schools include Adams Elementary School, La Cumbre Junior High School and San Marcos Senior High School. 3432 Richland Drive is a 0-bed, 0-bath, multi-family home built in 1962.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Berkshire Hathaway HomeServices California Properties, Ken Switzer, DRE #01245644

Based on information from one of the following Multiple Listing Services: Santa Barbara MLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Santa Barbara MLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.