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$3,295,000
Est. payment /mo
4,707 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 4,707 sqft
Price per Sqft $700
MLS Listing ID 26-3047
Year Built 1962
Lot Size 9,583 Sqft
Acres 0.22
Lot Dimensions 9583.0
Source Santa Barbara Multiple Listing Service
Property 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 below 6% interest rate, contact agent for details. Offering Memorandum in Documents.
Location
State CA
County Santa Barbara
Interior
Laundry Laundry Room
Exterior
Parking Features Outside
Building
Lot Description Near Public Transit
Foundation Slab
New Construction No
Others
Tax ID 051-061-018
Acceptable Financing Assumable, Conventional, Cash
Listing Terms Assumable, Conventional, Cash
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Listed by Berkshire Hathaway HomeServices California Properties
Nearby Locations
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John R Thompson
Broker/Owner License ID: 01200900
Broker/Owner License ID: 01200900