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3411 Spring Street

Paso Robles, CA 93446
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Bed 0

Bed

Bath 0

Bath

SqFt11,808

Sqft

SqFt16,425

Sqft(Lot)

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 accl aimed 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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Detail Ic Property Details

Property Type : ResidentialIncome

Price : $2,799,000

AD Id : 79496997

MLS Id : PI26094992

Lot Size : 16,425 Sqft

Living Area Size : 11,808

Year Built : 1978

Garage : 14

County : San Luis Obispo

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Feature Features

  • Heating & Cooling

    Has Heating: Yes Heating: Wall Furnace Has Cooling: Yes Cooling: Wall/Window Unit(s)

  • Building Information

    Year Built: 1978
    Building Area Total: 11808
    Stories: 2
    Pool Features: None
    Private Pool: No

  • Lot Information

    Main Square Feet: 16425 Lot Size Acres: 0.3771 Lot Size Source: Assessor Lot Size Square Feet: 16,425 Lot Description: 11-15 Units/Acre,Paved,Rectangular Lot

  • Listing Price Information

    Listing Price: $2799000
    Original Price: $3100000
    Cash, Conventional, 1031 Exchange, Subject To Other

  • Tax Information

    Parcel Number: 008031009 Tax Lot: 1 Tax Block: 210

  • Parking Information

    Parking Total: 14 Assigned, Covered, Paved, One Space

    Garage Information

    Has Garage: Yes Garage Space: 14

  • Utility Information

    Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
  • Location Information

    Direction: Start on US-101 N, take exit 232 for Spring St, destination will be on the right. WaterSource: Public
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Nearby Home Value

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8199 Plane View, Paso Robles, CA, 93446 $735,000 3 2 1,600 1,600 SqFt
4710 Flying Paster Lane, Paso Robles, CA, 93446 $33,000,000 8 6 6,144 6,144 SqFt
5055 Rancho La Loma Lin.., Paso Robles, CA, 93446 $1,599,500 3 2 2,648 2,648 SqFt
3640 Debonair Drive, Paso Robles, CA, 93446 $1,159,000 4 3 2,230 2,230 SqFt
5740 Forked Horn, Paso Robles, CA, 93446 $879,000 3 2 1,512 1,512 SqFt
4960 Glenhill Lane, Paso Robles, CA, 93446 $2,595,000 4 2 3,833 3,833 SqFt
5995 Black Tail Place, Paso Robles, CA, 93446 $825,000 3 2 1,953 1,953 SqFt
5696 Loma Real, Paso Robles, CA, 93446 $1,080,000 5 3 2,819 2,819 SqFt

The information being provided by Miami Association of REALTORS® is for the consumer's personal, non-commercial use. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Miami Association of REALTORS®. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Miami Association of REALTORS® and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2026 Miami Association of REALTORS®. All rights reserved.

ByOwner last updated this listing 07/22/2026 @ 10:28

MLS: PI26094992 LISTED BY: Abel Contreras, Invest SLO 805-709-7143 SOURCE: CRMLS

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