3411 Spring Street, Paso Robles, CA 93446
Local realty services provided by:ERA North Orange County Real Estate
3411 Spring Street,Paso Robles, CA 93446
$2,799,000
- 5 Beds
- 4 Baths
- - sq. ft.
- Multi-family
- Active
Listed by: abel contreras, chelsea king
Office: invest slo
MLS#:PI26094992
Source:San Diego MLS via CRMLS
Price summary
- Price:$2,799,000
About this home
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...
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Home facts
- Listing ID #:PI26094992
- Added:75 day(s) ago
- Updated:August 13, 2026 at 02:11 PM
Rooms and interior
- Bedrooms:5
- Total bathrooms:4
Heating and cooling
- Cooling:Wall/Window
Structure and exterior
- Levels:2 Story
Finances and disclosures
- Price:$2,799,000
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