3445 Richland Drive, SANTA BARBARA, CA 93101, SANTA BARBARA, 93101 - bed, bath
3445 Richland Drive
SANTA BARBARA, CA 93101
Property Price
SUMMARY
Analysis of 3445 Richland Drive, SANTA BARBARA, CA 93101 is currently available with a list price of $6,500,000. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. Located in a high-demand neighborhood within the SANTA BARBARA Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is move-in ready.
Although originally built in 1960, the property is in good condition because 14 of the 16 units have been recently renovated with upgraded interiors. The kitchens in these units feature modern stainless steel appliances and white shaker-style cabinetry, complemented by updated laminate flooring and fresh paint. The property also benefits from significant infrastructure improvements, including new sewer connections and well-maintained exteriors, making it move-in ready with minimal immediate capital requirements.
PROSSTRENGTHS & OPPORTUNITIES
- Extensive Renovations
With 14 of the 16 units already upgraded with modern interiors, the property offers strong rental appeal and significantly reduced near-term capital expenditure requirements.
- Infrastructure Reliability
Substantial plumbing improvements, including new sewer connections to the street, mitigate the risks typically associated with older 1960s utility systems.
- Proven Operational Stability
The asset maintains consistently high occupancy and minimal vacancy rates, backed by a track record of professional maintenance and management.
CONSRISKS & DEFICIENCIES
- 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.
- Vintage Construction
Built in 1960, the property may still face ongoing maintenance challenges inherent to older structures despite recent interior and plumbing upgrades.
- Incomplete Modernization
Two units remain in original condition, requiring immediate attention and additional investment to achieve the property's full income potential.
About 3445 Richland Drive
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 continued modernization and rent growth.
Property Details
Public Facts
- Property Type
- Residential Income
- Year Built
- 1960
- Lot Size
- 16,552 Sq. Ft.
Interior
- Total Bedrooms
- -
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 50% |
| Baths | - | - | 50% |
| Square foot | 10,758 | 2,228 | 96% |
| Lot Size | 16,552 | 8,712 | 96% |
| Price | $6.50M | $2.79M | 96% |
| Price per sq ft | $604 | $608 | 48% |
| Built year | 1960 | 1960 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 58 | 211 | 9% |
Pricing History
Listed for Sale
Jan 8, 2026
$6,500,000
Initial Listing
Sold
Jul 6, 2016
$2,291,500
Public Record
Sold
Oct 31, 2001
$1,250,000
Public Record