3505 Spring Street, Paso Robles, CA 93446

Paso Robles
Local realty services provided by:Better Homes and Gardens Real Estate Champions
3505 Spring Street,Paso Robles, CA 93446
$1,900,000
  • - Beds
  • - Baths
  • 5,000 sq. ft.
  • Multi-family
  • Active
Listed by: abel contreras, chelsea king
Office: invest slo805-709-7143
MLS#:PI26094991
Source:CRMLS

Price summary

  • Price:$1,900,000
  • Price per sq. ft.:$380

About this home

(PORTFOLIO SALE) Combined portfolio 3411 Spring Street and 3505 Spring Street offered at $5,000,000. 3505 Spring Street is a unique 10-unit multifamily property in the heart of Paso Robles, offered at approximately $190,000/unit, $380/SF with a stabilized cap rate of 7.84% 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...

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Home facts

  • Year built:1968
  • Listing ID #:PI26094991
  • Added:10 day(s) ago
  • Updated:June 08, 2026 at 10:28 PM

Rooms and interior

  • Living area:5,000 sq. ft.

Heating and cooling

  • Cooling:Wall Window Units

Structure and exterior

  • Roof:Asphalt
  • Year built:1968
  • Building area:5,000 sq. ft.
  • Lot area:0.39 Acres
  • Lot Features:Paved
  • Architectural Style:Traditional
  • Levels:2 Story

Utilities

  • Water:Public, Water Connected
  • Sewer:Public Sewer, Sewer Connected

Finances and disclosures

  • Price:$1,900,000
  • Price per sq. ft.:$380

Parking

  • Total parking spaces:20
  • Parking description:Asphalt, Assigned, On Site, Paved, Uncovered
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