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3432 Richland Dr
Santa Barbara, CA 93105 North State

$3,295,000 USD

Apartments For Sale • 4,707 SF

Property Details

Property Type Apartments
Total Building Size 4,707 SF
Lot Size 0.22 AC
Building Class C
Year Built 1961
Cap Rate 5.32 %
Zoning R-M

60 Transit Score

70 Walk Score

                
                    Highlights
                
                                Central Santa Barbara location, walkable to all services and amenities
                            
                                Attractive starting cap rate for the location, approaching the mid-5%'s, with future upside
                            
                                Private layout with central courtyard
                            
                                Several unofficial additional parking spaces / room for ADU's
                            
                                Possible assumable financing under 6% interest rate, inquire for details

Property Flyers

3432 Richland - Offering Memorandum Sept. 2026

Financial Summary (Actual)

Net Operating Income: $175,416 USD (2026)

Cap Rate:	5.32 %
Total Expenses:	$80,004 USD

Amenities

Courtyard

Public Transportation

Commuter Rail	Drive	Walk	Distance
	8 min	-	4.0 mi
	12 min	-	6.9 mi
Airport	Drive	Walk	Distance
Santa Barbara Municipal	12 min	-	7.1 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	8
Type:	Surface
Included in Rent:	Yes

Ken Switzer 805-680-4622 Berkshire Hathaway Commercial Division

3432 Richland Dr Santa Barbara, CA 93105 North State