Active

3411 Spring Street

Paso Robles, CA 93446
Mark as Favorite
Bed 0

Bed

Bath 0

Bath

SqFt11,808

Sqft

SqFt16,425

Sqft(Lot)

(PORTFOLIO SALE) Combined portfolio 3411 Spring Street and 3505 Spring Street offered at $5,000,000. 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 6.76% 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 *14 Covered Carport Spaces *100% Occupied — 14/14 Units *Attractive Entry Basis at ~$263/SF

Read More Expand

Detail Ic Property Details

Property Type : Residential Income

Price : $3,100,000

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

  • Map Map

Map

Map What's Nearby

Map Nearby Areas

Feature Features

  • Water/Sewer

    Water Source: Public Sewer: Public Sewer
  • Cooling Features

    Wall/Window Unit(s) Air Conditioning

    Heating Source

    Wall Furnace Has Heating

  • Building Information

    Year Built: 1978 Building Area Total: 11,808
  • Accessibility Features

    Parking

    Pool Features

    None

    Laundry Features

    Common Area

    Fencing

    Wood

  • Lot Details

    Lot Dimensions Source: Vendor Enhanced Lot Size Acres: 0.3771
  • Lot Size Source: Assessor Lot Size Square Feet: 16425

  • Listing Price Information

    Original List Price: 3,100,000 Listing Contract Date: 2026-04-30
  • Lease Information

    Listing Agreement: Exclusive Right To Sell

  • Tax Information

    Parcel Number: 008031009

  • Garage and Parking

    Garage Description: Assigned,Covered,Paved,One Space

    Homeowners Association

  • Rental Info

    Lease Term: Negotiable Tenant Pays: Cable TV,Electricity,Gas

  • Other Property Info

    Source Listing Status: Active Source Neighborhood: PSOR - Paso Robles Directions: Start on US-101 N, take exit 232 for Spring St, destination will be on the right. Source Property Type: Residential Income Area: PSOR - Paso Robles Property SubType: Apartment
  • Building and Construction

    Property Age: 48 Common Walls: 2+ Common Walls Structure Type: Apartment Year Built Source: Assessor Entry Level: 1 Entry Location: Front Door Property Attached: Yes Levels or Stories: Two Building Total Stories: 2
Sell a home like this and save $185,501 Find out How

How much is this property worth?

Curious about this home's true market value? Use our free Home Evaluation Tool to instantly get a personalized Comparative Market Analysis (CMA) report. Make smarter, data-driven decisions before you buy.

Images
Loading, please wait...

Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
6172 Hawk Ridge Place, Paso Robles, CA, 93446 $1,795,000 4 3 3,531 3,531 SqFt
8199 Plane View, Paso Robles, CA, 93446 $749,000 3 2 1,600 1,600 SqFt
5010 Gate 4 Rd., 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
4960 Glenhill Lane, Paso Robles, CA, 93446 $2,595,000 4 2 3,833 3,833 SqFt
5275 Camp 8 Road, Paso Robles, CA, 93446 $2,900,000 12 7 7,262 7,262 SqFt
5385 & 5375 Camp 8, Paso Robles, CA, 93446 $3,399,000 6 4 4,430 4,430 SqFt
6944 Union Road, Paso Robles, CA, 93446 $3,700,000 8 6 5,670 5,670 SqFt
7550 Rancho Verano, Paso Robles, CA, 93446 $1,375,000 4 3 2,876 2,876 SqFt
1924 Surrey Way, Paso Robles, CA, 93446 $1,995,000 4 2 2,900 2,900 SqFt

Copyright © 2026 by the Multiple Listing Service of the California Regional MLS®. This information is believed to be accurate but is not guaranteed. Subject to verification by all parties. This data is copyrighted and may not be transmitted, retransmitted, copied, framed, repurposed, or altered in any way for any other site, individual and/or purpose without the express written permission of the Multiple Listing Service of the California Regional MLS®. Information Deemed Reliable But Not Guaranteed. Any use of search facilities of data on this site, other than by a consumer looking to purchase real estate, is prohibited.

ByOwner last updated this listing 06/05/2026 @ 10:56

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

Selling? Save $185,501 when you sell a home like this

Tour with a ByOwner Agent