$3,100,000
Est. payment /mo
5 Beds
4 Baths
0.38 Acres Lot
New
3411 Spring Street Paso Robles, CA 93446
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PI26094992
Bedrooms 5
Lot Size 0.377 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
(PORTFOLIO SALE) Combined portfolio 3411 Spring Street and 3505 Spring Street offered at $5,000,000. 3411 Spring Street is a 14-unit multifamily property situated in a well-established Paso Robles neighborhood, offered at approximately $263/SF with a stabilized cap rate of 6.76% and annual rent upside of approximately $102,060. Built in 1970 and spanning approximately 11,748 rentable square feet across two stories, the property consists of ten (10) one-bedroom/one-bathroom apartments and four (4) two-bedroom/one-bathroom apartments all currently occupied. Units feature functional floor plans with ample natural light, and residents enjoy 14 covered carport spaces and on-site parking. The property is zoned PR/R4, supporting its established multifamily use, and sits on a generous 0.39-acre lot. Located minutes from downtown Paso Robles, residents have convenient access to the city's acclaimed dining, wine country, shopping, and employment corridors. With current rents averaging well below market rate several tenants having been in place since as early as 2008 a new owner has a clear path to substantially increase income through organic lease-up as units turn over. The appraised value of $3,550,000 (January 2026) further underscores the asset's underlying strength. Investment Highlights: *Unit Mix: (10) 1 Bed/1 Bath; (4) 2 Bed/1 Bath *14 Covered Carport Spaces *100% Occupied 14/14 Units *Attractive Entry Basis at ~$263/SF
Location
State CA
County San Luis Obispo
Zoning Assessor
Direction Start on US-101 N, take exit 232 for Spring St, destination will be on the right.
Interior
Cooling Wall/Window
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 008031009
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
Listed by Abel Contreras, DRE#02062620 Invest SLO
NEARBY SCHOOL & BUSINESS
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