3411 & 3505 Spring Street, Paso Robles, CA 93446

Paso Robles
Local realty services provided by:ERA North Orange County Real Estate
3411 & 3505 Spring Street,Paso Robles, CA 93446
$4,500,000
  • - Beds
  • - Baths
  • 16,808 sq. ft.
  • Multi-family
  • Active
Listed by: abel contreras, chelsea king
Office: invest slo805-709-7143
MLS#:PI26117034
Source:CRMLS

Price summary

  • Price:$4,500,000
  • Price per sq. ft.:$267.73

About this home

The Spring Street Portfolio is a rare opportunity to acquire two adjacent multifamily properties totaling 24 units in the heart of Paso Robles, offered at $4,500,000 — with a combined stabilized cap rate of 8.09% and annual rent upside of approximately $155,400 across both properties. The portfolio consists of 3411 Spring Street, a 14-unit two-story walk-up built in 1970 spanning approximately 11,748 rentable square feet, and 3505 Spring Street, a 10-unit two-story property originally constructed as a motel and thoughtfully converted to residential use, spanning approximately 5,000 rentable square feet. Together, the properties sit on adjacent lots totaling over ±0.79 acres along the Spring Street corridor, zoned PR/R4 and T-4NC respectively. Both properties are managed by MPM Inc., offering a seamless transition for new ownership. 3505 Spring Street sits within a federally designated Opportunity Zone, providing meaningful tax advantages for qualifying investors, and operates under a...

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Home facts

  • Year built:1968
  • Listing ID #:PI26117034
  • Added:71 day(s) ago
  • Updated:August 13, 2026 at 11:08 AM

Rooms and interior

  • Living area:16,808 sq. ft.

Heating and cooling

  • Cooling:Wall Window Units
  • Heating:Wall Furnance

Structure and exterior

  • Roof:Asphalt
  • Year built:1968
  • Building area:16,808 sq. ft.
  • Lot area:0.77 Acres
  • Architectural Style:Traditional
  • Levels:2 Story

Utilities

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

Finances and disclosures

  • Price:$4,500,000
  • Price per sq. ft.:$267.73

Features and amenities

  • Amenities:Balcony

Parking

  • Total parking spaces:34
  • Parking description:Asphalt, Assigned, Covered, On Site, One Space, Paved, Uncovered
  • Garage:Yes
  • Garage spaces:14
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