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Listed by Abel Contreras, DRE #02062620 • Invest SLO
$ 1,699,000
Est. payment /mo
Price Dropped by $151K
3505 Spring ST Paso Robles, CA 93446
0.39 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPI26094991
Style Traditional
Year Built 1968
Lot Size 0.389 Acres
Source California Regional MLS
Property Description
(PORTFOLIO SALE) Combined portfolio 3411 Spring Street and 3505 Spring Street offered at $4,500,000. 3505 Spring Street is a unique 10-unit multifamily property in the heart of Paso Robles, offered at approximately $169,000/unit, $339/SF with a stabilized cap rate of 8.91% and annual rent upside of approximately $53,340. The property spans approximately 5,000 rentable square feet across two stories on a ±0.40-acre lot. The diverse unit mix includes five (5) studios with one bathroom, one (1) studio with two bathrooms, two (2) one-bedroom/one-bathroom units, one (1) one-bedroom/two-bathroom unit, and one (1) two-bedroom/two-bathroom unit - catering to a broad renter demographic. The property is zoned T-4NC and sits within a federally designated Opportunity Zone, providing meaningful tax advantages for qualifying investors. A RUBS program implemented in October 2025 per CA Civil Code §827 passes approximately 90% of gross utility costs back to tenants, materially improving net operating income. With current rents below market and one unit presently vacant, a new owner is positioned to immediately begin closing the income gap toward stabilized returns. Investment Highlights: *Federally Designated Opportunity Zone - Significant Tax Incentives for Qualifying Investors *RUBS Pro
Location
State CA
County San Luis Obispo
Area Psor - Paso Robles
Interior
Cooling Window / Wall Unit
Laundry Community Facility
Exterior
Parking Features Assigned Spaces, Common Parking Area, Other, Uncovered Parking
Garage Spaces 20.0
Pool 31, None
Roof Type 2
Building
Lot Description Paved
Water District - Public
Architectural Style Traditional
Others
Tax ID 008031028
Special Listing Condition Not Applicable
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