3432 Richland Drive, SANTA BARBARA, CA 93105 (MLS# 26-3047)

3432 Richland Drive, SANTA BARBARA, CA 93105

$3,295,000

3432 Richland - 8 units central location

Property Type: Res Inc Square Footage: 4,707 Lot Size (sq. ft.): 9,583 Status: Active

Current Price: $3,295,000 List Date: 9/10/2026 Last Modified: 9/15/2026

Overview

Description

3432 Richland Drive is a rare opportunity to purchase an attractive and mostly stabilized 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 Muni Golf Course, MacKenzie Park and La Cumbre Shopping Center. The 8 units are 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. The property delivers a solid current yield approaching a mid-5%'s cap rate, with remaining upside over time. Possible loan assumption at 5.69% interest rate, contact agent for details. Offering Memorandum in Documents.

Listing Details MLS# 26-3047

Location Info

District: 20 - SB/WEST OF STATE
Street #: 3432
Street Name: Richland
Street Suffix: Drive
State: CA
Country: US
Postal Code: 93105
Compass Map: Santa Barbara
Map Grid: M11
County: Santa Barbara
Parcel Nbr: 051-061-018
Cross Street: Broadmoor

Contract Info

Price: 3295000
Begin Date: 2026-09-10

Property Information

Number of Units: 8
Units Furnished: None
Stories: 2
Year Built: 1962
Main House SqFt: 4707
Apx # Acres: 0.22
Apx Lot SqFt: 9583
Recurring Fees: No

Remarks

Hot Sheet Comment: new

Owner Info

Deposit: 3
Deposit Type: %
COE: ASAP

Miscellaneous

Parking Spaces: 8
# Refrigerators: 8
# Stoves: 8

More Information

Unit 1

# Units: Yes
# Bedrooms: 2
# Baths: Yes
Rent: 3404
Monthly Total: 3404

Unit 2

# Units: 5
# Bedrooms: Yes
# Baths: Yes
Rent: 2711
Monthly Total: 13553

Unit 3

# Units: 2
# Baths: Yes
Rent: 2164
Monthly Total: 4328

Meters

Sep Meter Wtr: N
Sep Meter Elec: Y
Sep Meter Gas: No

Parking Info

Total # Unconvered Spaces: 8

Property Features

Unit 1: Lease Unit 2: Lease Unit 3: Lease Condition: Good Foundation: Slab Parking Info: Outside Proximity: Near Bus; Near Hospital; Near Park(s); Near School(s); Near Shopping Laundry: Laundry Room Owner Provides: Gas; Water; Trash Zoning: R-3 Exchange: Yes Terms: Cash; Conventional; Ctel Listing Type: ER

Documents

Offering Memorandum (unbranded) ›

Listing Office: Berkshire Hathaway HomeServices California Properties

Last Updated: September - 15 - 2026

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