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Patricia Beattie

patricia@brivio.com +1(415) 286-8292

$2,799,000

Est. payment - /mo

0.38 Acres Lot

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Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID PI26094992

HOA Y/N No

Year Built 1978

Lot Size 0.377 Acres

Property Sub-Type Apartment

Property Description

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 7.60 % 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

* Stabilized cap rate of 7.60%

*14 Covered Carport Spaces

*100% Occupied — 14/14 Units

* $200,000 per unit

*Attractive Entry Basis at ~$237.04/SF

Location

State CA

County San Luis Obispo

Area Psor - Paso Robles

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplace No

Laundry Common Area

Exterior

Parking Features Assigned, Covered, Paved, One Space

Garage Spaces 14.0

Garage Description 14.0

Fence Wood

Pool None

Community Features Curbs, Gutter(s), Storm Drain(s), Street Lights, Sidewalks

Utilities Available Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected

Accessibility Parking

Total Parking Spaces 14

Private Pool No

Building

Lot Description 11-15 Units/Acre, Paved, Rectangular Lot

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Architectural Style Traditional

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 008031009

Energy Description 7645.0

Acceptable Financing Cash, Conventional, 1031 Exchange, Subject To Other

Listing Terms Cash, Conventional, 1031 Exchange, Subject To Other

Special Listing Condition Standard

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Listed by Abel Contreras Invest SLO 805-709-7143, DRE #02062620

Nearby School & Business

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Patricia Beattie

+1(415) 286-8292

Broker | License ID: 01405369

Broker License ID: 01405369

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3411 Spring ST Paso Robles, CA 93446

Patricia Beattie

Key Details

Location

Interior

Exterior

Building

Others

Nearby School & Business

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