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3432 Richland Drive, 
Santa Barbara, CA 93105

$3,295,000

—

Bed

—

Bath

4,707

Sq Ft

Multi-Family

Active

Listed by

Ken Switzer

Berkshire Hathaway HomeServices California Properties

Last updated:

September 10, 2026, 11:58 PM

MLS#

26-3047

Source:

SBAOR

About This Home

3432 Richland Drive

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.

Home Facts

Multi-Family

Built in 1962

Price Summary

3,295,000

$700 per Sq. Ft.

MLS #:

26-3047

Last Updated:

September 10, 2026, 11:58 PM

Added:

a day ago

Rooms & Interior

Interior

Living Area:

4,707 Sq. Ft.

Structure

Structure

Year Built:

1962

Lot

Lot Size (Sq. Ft):

9,583

Finances & Disclosures

Finances

Price:

$3,295,000

Price per Sq. Ft:

$700 per Sq. Ft.

Source:SBAOR
Based on information from the Santa Barbara MLS as of September 11, 2026 Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Contact an Agent

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If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.

Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.