Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    415 Rancheria St Santa Barbara, CA 93101

    Sponsored
    For Sale
    $3,950,000

    MULTI_FAMILY - SANTA BARBARA, CA

    Lot size:
    0.17 Acres
    Days on Market:
    3
    Last Refresh:
    Feb 13 at 5:06 am

    Property Features for 415 Rancheria St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R-4
    Rooms
    Bedroom 10, Bedroom 5, Bathroom 3, Bedroom 4, Bedroom 7, Bedroom 13, Bedroom 9, Bedroom 1, Bedroom 3, Bedroom 14, Bedroom 8, Bathroom 2, Bathroom 12, Bedroom 12, Bathroom 4, Bedroom 6, Bathroom 1, Bathroom 5, Bedroom 2, Bathroom 9, Bathroom 10, Bedroom 16, Bathroom 11, Bedroom 11, Bathroom 8, Bedroom 15, Bathroom 6, Bathroom 7
    Bedrooms
    16
    APN
    037-180-017
    Lot size
    0.17 Acres

    Building Details

    Floors in Building
    2
    Number of units
    4

    We can help!

    Listing Contact
    Michael E Manasse

    Keller Williams Realty Santa Barbara (805) 456-3600

    Listing agent Michael E Manasse (805) 280-8208

    Listing date Feb 11, 2026

    MLS# 26-424 Listing URL

    Copyright © 2026 Santa Barbara Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Santa Barbara Multifamily Near SBCC

    This multifamily property is located in Santa Barbara, CA, and features R-4 zoning. The property includes 16 bedrooms and is situated one block from Santa Barbara City College and close to the beach. Each of the units contains 4 bedrooms and 1.5 bathrooms. The units were completely remodeled in 2013, and all units have in-unit laundry. A new driveway was installed less than a year ago. The lot size is 0.17 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Lab 300 Marketing & Advertising

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Spa & Massage Center Hair Salon Nail Salon Food Market Grocery & Convenience Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Santa Barbara
    County
    Santa Barbara
    State
    California
    Longitude
    -119.70056
    Latitude
    34.410701

    Nearby Similar for Sale

    • $5,995,000
      2,389 SF

      Remodeled Mixed-Use Property Downtown

      Downtown Santa Barbara mixed-use property with residential and short-term rental units.
      6 E Valerio St, Santa Barbara, CA 93101
      View Details
    • $5,995,000
      2,389 SF

      Remodeled Mixed-Use Santa Barbara Property

      Mixed-use property with residential and short-term rental potential.
      6 E Valerio St, Santa Barbara, CA 93101
      View Details
    • New
      $5,995,000
      2,389 SF

      Remodeled Mixed-Use Property Downtown

      Mixed-use property with residential and short-term rental income potential.
      6 E Valerio St, Santa Barbara, CA 93101
      View Details
    • New
      $5,995,000
      2,389 SF

      Remodeled Mixed-Use Santa Barbara Property

      Mixed-use property with residential and short-term rental income potential.
      6 E Valerio St, Santa Barbara, CA 93101
      View Details
    • $1,499,999
      1,342 SF

      Charming Santa Barbara Office Property

      Charming office property near State Street with rare wrap-around driveway.
      136 West Figueroa St, Santa Barbara, CA 93101
      View Details
    • New
      $2,950,000

      Santa Barbara Multifamily Turnkey Property

      Remodeled duplex near landmarks, ideal for owner-user or extended family.
      518 E Islay St, Santa Barbara, CA 93101
      View Details
    • New
      $2,295,000

      Santa Barbara Duplex with Views

      Renovated duplex in prime location near downtown Santa Barbara.
      514 E Islay St, Santa Barbara, CA 93101
      View Details
    • New
      $2,150,000
      0.21 Acres

      Downtown Santa Barbara Triplex Opportunity

      Triplex in prime downtown Santa Barbara with off-street parking.
      1428-1424 De La Vina St, Santa Barbara, CA 93101
      View Details
    • New
      $1,795,000
      Pending

      Santa Barbara Multifamily Property

      Two-unit property in downtown Santa Barbara with dual living potential.
      1111-1113 Olive St, Santa Barbara, CA 93101
      View Details
    • New
      Contact for pricing
      910 SF

      Remodeled Restaurant Space on Pardall

      Remodeled 910 SF restaurant space ready for your concept.
      6580 Pardall Rd, Santa Barbara, CA 93117
      View Details
    • $6,750,000
      10,650 SF

      Santa Barbara Multi-Tenant Investment Opportunity

      Multi-tenant investment opportunity in Santa Barbara's San Roque neighborhood.
      3609 State St, Santa Barbara, CA 93105
      View Details
    • New
      Contact for pricing
      325 SF

      Downtown Santa Barbara Office Space

      Office space in the heart of downtown Santa Barbara.
      1309 Anacapa St, Santa Barbara, CA 93101
      View Details

    FAQs

    What type of property is this?
    Quadplex - Multifamily property with 16 bedrooms near Santa Barbara City College.
    Where is this quadplex located?
    The property is located at 415 Rancheria St Santa Barbara, CA.
    What is the asking price?
    The asking price for this property is $3,950,000.
    What are key features of this property?
    This property features: - 16 bedrooms; - One block to SBCC; - Close to the beach
    (805) 280-8208
    Request Owner's contact information
    415 Rancheria St Santa Barbara, CA 93101
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    415 Rancheria St
    Santa Barbara, CA 93101
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    415 Rancheria St Santa Barbara, CA 93101
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Michael E Manasse
    (805) 280-8208
    Learn more
    Google sign-in failed. Please try again or use another login method.