3445 Richland Drive, Santa Barbara, CA 93105, Santa Barbara, 93105 - bed, bath
ACTIVE$6,500,000/sqft
3445 Richland Drive, Santa Barbara, CA 93105
0Bed
0Bath
Sqft
16,552Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Extensive Unit Renovations: Fourteen of the sixteen units have been renovated with upgraded interiors, significantly enhancing rental appeal and reducing immediate capital expenditure needs for a new owner.
Top Cons:
MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =16552, other record lot size in square feet = 8276.
Compared to the nearby listings
Compared against 0 nearby listings
More Insights
Built in 1960 (66 years old).
Condition: The property is in good condition, primarily due to extensive renovations in 14 of the 16 units, featuring upgraded interiors that likely include modern kitchens and bathrooms. Significant plumbing improvements, such as new sewer connections, address a major infrastructure concern for older buildings. The exterior appears well-maintained. However, the original build year of 1960 means the core structure is over 60 years old, and while many units are updated, other original systems (electrical, HVAC, roofing) may still require future attention. The absence of interior photos prevents a detailed assessment of specific styles and features, but the description indicates a move-in ready state for most units with no immediate major renovations required.
Year Built
1960
Close
-
List price
$6.5M
Original List price
-
Price/Sqft
$0
HOA
$0
Days on market
-
Sold On
-
MLS number
V1-33479
Home ConditionGood
Features
Good View:
View-
About this home
3445 & 3449 Richland combined. Fourteen of the Sixteen units have been renovated with upgraded interiors, offering strong rental appeal and reduced near-term capital needs. The property has received substantial plumbing improvements, including new sewer connections to the street, ensuring long-term infrastructure reliability. With consistently high occupancy, minimal vacancy, and a proven record of professional maintenance, this garden-style community represents a stable, well-performing asset with upside potential through continues modernization and rent growth.
M
Michael Lopus
Listing Agent
Price History
Date
Event
Price
07/06/16
Sold
$2,291,500
10/31/01
Sold
$1,250,000
Condition Rating
Good
The property is in good condition, primarily due to extensive renovations in 14 of the 16 units, featuring upgraded interiors that likely include modern kitchens and bathrooms. Significant plumbing improvements, such as new sewer connections, address a major infrastructure concern for older buildings. The exterior appears well-maintained. However, the original build year of 1960 means the core structure is over 60 years old, and while many units are updated, other original systems (electrical, HVAC, roofing) may still require future attention. The absence of interior photos prevents a detailed assessment of specific styles and features, but the description indicates a move-in ready state for most units with no immediate major renovations required.
Pros & Cons
Pros
Extensive Unit Renovations: Fourteen of the sixteen units have been renovated with upgraded interiors, significantly enhancing rental appeal and reducing immediate capital expenditure needs for a new owner.
Robust Infrastructure Upgrades: Substantial plumbing improvements, including new sewer connections to the street, ensure long-term infrastructure reliability and mitigate common issues associated with older properties.
Strong Occupancy & Income Stability: The property boasts consistently high occupancy and minimal vacancy, indicating strong market demand and a stable, reliable income stream for investors.
Professional Maintenance Record: A proven record of professional maintenance suggests the property is well-managed and cared for, potentially reducing operational burdens for a new owner.
Clear Upside Potential: Identified upside potential through continued modernization and rent growth positions this as a well-performing asset with future value appreciation and income enhancement opportunities.
Cons
MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =16552, other record lot size in square feet = 8276.
Age of Property: Built in 1960, the core structure is over 60 years old, which, despite recent renovations, may imply other original systems (e.g., electrical, HVAC, roofing) could require future attention or upgrades.
Incomplete Unit Renovation: While most units are renovated, two of the sixteen units have not been upgraded, which may require additional investment to maximize rental income and appeal across the entire property.
Future Listing Date: The 'on market date' and 'modified timestamp' are listed in the future (2025), which could indicate a data discrepancy, pre-listing status, or placeholder, potentially causing uncertainty regarding its immediate availability or current market status.