3432 Richland Drive, SANTA BARBARA, CA 93105
$3,295,000
Property Type:
Res Inc
Square Footage:
4,707
Lot Size (sq. ft.):
9,583
Status:
Active
Current Price:
$3,295,000
List Date:
1/26/2024
Last Modified:
4/24/2024
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 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
More Information MLS# 24-294
Location Info
District: 20 - SB/WEST OF STATE
Street #: 3432
Street Name: Richland
Street Suffix: Drive
State/Province: CA
Postal Code: 93105
Compass Map: Santa Barbara
Map Grid: M11
County: Santa Barbara
Parcel Number: 051-061-018
Cross Street: Broadmoor
Contract Info
Current Price: $3,295,000
Price: 3295000
Buyers Agent $/%: 2.5
Begin Date: 2024-01-26
Status: Active
Property Information
Number of Units: 8
Stories: 2
Year Built: 1962
Main House SqFt: 4707
Apx # Acres: 0.22
Apx Lot SqFt: 9583
Recurring Fees: No
Neighborhood/Schools
Elementary School: Adams
Junior High School: LaCumbre
High School: San Marcos
Remarks
COVID Showing Remarks: Do not go inside apartments if feeling sick. Follow all local Covid guidelines.
Hot Sheet Comment: new
Owner Info
Deposit: 3
Miscellaneous
Parking Spaces: 8
# Refrigerators: 8
# Stoves: 8
Unit 1
# Units: 1
# Bedrooms: 2
# Baths: 1
Furnished: N
Rent: 2697
Monthly Total: 2697
Unit 2
# Units: 5
# Bedrooms: 1
# Baths: 1
Rent: 2121
Monthly Total: 10606
Unit 3
# Units: 1
# Baths: 1
Rent: 1862
Monthly Total: 3724
Income/Expenses
Total Monthly Income: 17027
Annual Income: 204324
Capitalization Rate: 4.23
Taxes: 34927
Insurance: 5000
Water Expense: 8380
Electric Expense: 336
Gas Expense: 3378
Maintenance Expense: 2400
Total Monthly Exp: 5425
Total Annual Exp: 65101
NOI: 139223
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
Income/Expenses: Estimated
Condition: Good
Foundation: Slab
Parking Info: Uncovered
Proximity: Near Bus; Near Hospital; Near Park(s); Near School(s)
Laundry: Bldg
Owner Provides: Gas; Water; Trash
Zoning: R-3
Exchange: Yes
Terms: Cash; Ctnl
Listing Type: ER
Documents
Offering Memorandum ›Listing Office: Berkshire Hathaway HomeServices California Properties
Last Updated: April - 24 - 2024
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
The data relating to real estate for sale on this web site comes from the Internet Data Exchange Program of the Santa Barbara Multiple Listing Service. Real estate listings held by brokerage firms other than the displaying broker(s) are marked with the 'MLS' logo and detailed information about them includes the name of the listing brokers.
All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor displaying broker shall be responsible for any typographical errors, misinformation, or misprints. 2015 Santa Barbara Multiple Listing Service. All rights reserved.
