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Patricia Beattie

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

$2,799,000

Est. payment - /mo

5 Beds

4 Baths

0.38 Acres Lot

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UPDATED:

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

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

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

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Listed by Abel Contreras, DRE#02062620 Invest SLO

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 Street Paso Robles, CA 93446

Patricia Beattie

Key Details

Location

Interior

Exterior

Building

Others

Nearby School & Business

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