3505 Spring Street

Paso Robles, CA 93446

$2,000,000
Price
5
Beds
11
Baths
5,000 Sq. Ft.
$400 / Sq. Ft.
5,000
Sq. Ft.
$400
per Sq. Ft.

Description

Discover an exceptional fully renovated investment opportunity with this 10-unit apartment building located in a designated Opportunity Zone in Paso Robles. This property features a diverse range of units to accommodate various tenant needs, including five studios and one spacious one-bedroom unit on the upper level, each boasting a full bath. Renovations include plumbing, electrical, roofing, deck and unit upgrades. The lower level offers a larger two-bedroom, two-bath unit, along with three additional...Discover an exceptional fully renovated investment opportunity with this 10-unit apartment building located in a designated Opportunity Zone in Paso Robles. This property features a diverse range of units to accommodate various tenant needs, including five studios and one spacious one-bedroom unit on the upper level, each boasting a full bath. Renovations include plumbing, electrical, roofing, deck and unit upgrades. The lower level offers a larger two-bedroom, two-bath unit, along with three additional one-bedroom units. Key features include a paved parking lot for tenant convenience, a fenced backyard offering privacy and security, and covered patio areas perfect for outdoor relaxation. This property presents a fantastic opportunity for both seasoned investors and those looking to enter the market. This opportunity won't last!
  1. Listed by Justin Tye • DRE #01728694 • Brokerage DRE #02022092 • Real Broker
  2. Listed by BIJAN DASTMALCHIAN • DRE #02030882 • Brokerage DRE #02022092 • REAL BROKER

Property Details for 3505 Spring Street

View
None
Parking Spaces Total
0
Private Pool
No
Cooling Type
Wall/Window
Total Units
10.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
5000
LISTING UPDATED: 11/08/2024 08:27 AM

Property Details for 3505 Spring Street

StatusActive
MLS #OC24147835
Days on Market94
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1968
CountySan Luis Obispo County

Building Information for 3505 Spring Street

Building/Complex3505 Spring StFloor-Stories2Residences-Pet Policy-Year Built1968Building Size-

Property Information for 3505 Spring Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $137,580
  • Gross Scheduled Income: $137,580
  • Net Operating Income: $116,616
Expense Details
  • Operating Expense: $20,964
  • Fuel Expense: $25
  • Electric Expense: $100
  • Insurance Expense: $75
  • Professional Management Expense: $100
  • Trash Expense: $40
  • Water Sewer Expense: $45
  • Total Expenses: $20,964
Tax / Assessment Info
  • Tax Census Tract: 101.04
  • CFD/Mello-Roos Fee: $0
Community / Development
Community / Development
  • Community Features: Curbs, Sidewalks, Street Lights
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: See Remarks
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: Wall/Window Unit(s)
  • Heating Type: None
  • Heating: None
  • Heat Equipment: N/K
Exterior Features
  • Entry Location: 1
  • Fence: No
  • Fence: None
  • Fencing: None
  • View Description: None
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: 6-10 Units/Acre
  • Number Of Units: 10
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Electricity Available, Electricity Connected, Sewer Available, Sewer Connected, Water Available, Water Connected
  • Electric: Standard
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: On Site
Unit Information
Unit 1
  • Unit Type Units Total: 5
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $65,000
  • Unit Type Total Rent: $65,000
  • Unit Type Pro Forma: 65000
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $13,000
  • Unit Type Total Rent: $13,000
  • Unit Type Pro Forma: 13000
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $39,000
  • Unit Type Total Rent: $39,000
  • Unit Type Pro Forma: 39000
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $13,000
  • Unit Type Total Rent: $13,000
  • Unit Type Pro Forma: 13000
  • Unit Type Type: 4
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 10
  • Number Of Separate Water Meters: 10

Property History for 3505 Spring Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 3505 Spring Street

Taxable ValueLand$250,000Additions$1,260,000Total$1,510,000
Tax Record2024$16,787 ($1,399 / month)
Home Facts
Lot Size16,029 SqFtStyleMulti-Family Res (5+ Units)Year Built1968ZoningCRCountySAN LUIS OBISPOAPN008-031-028

Schools near 3505 Spring Street

This home is within Paso Robles Joint Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 7 to 11
Rating
School
Distance
Georgia Brown Elementary School
PublicK to 5

George H. Flamson Middle School
Public6 to 8

Paso Robles High School
Public9 to 12

Paso Robles Community
Public7 to 11

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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3505 Spring Street is a multi-family home for sale in Paso Robles, CA 93446. This property was listed for sale on August 15, 2024 by Real Broker, it's currently listed at $2,000,000. It has been on the market for a total of 94 days and was last sold on August 14, 2023. This listing's school district is Paso Robles Joint Unified School District. Nearby schools include Georgia Brown Elementary School, George H. Flamson Middle School and Paso Robles High School. 3505 Spring Street is a 5-bed, 11-bath, 5,000 sqft multi-family home built in 1968.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Real Broker, Justin Tye, DRE #01728694; REAL BROKER, BIJAN DASTMALCHIAN, DRE #02030882

Based on information from one of the following Multiple Listing Services: Santa Barbara MLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Santa Barbara MLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.