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1470 Mission Street

San Miguel, CA 93451
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$795,000 $3,351/Mo
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Bed 4

Bed

Bath 5

Bath

SqFt3,500

Sqft(Lot)

INVESTORS, TAKE NOTE! Here's a great opportunity to purchase a newer three unit, mixed-use building in the desirable Paso Robles Wine Region. Located on the main corridor in downtown San Miguel (9 miles North of Paso Robles), this outstanding income property is just a short walk North of the historic Mission San Miguel. Built just 20 years ago, this newer mixed-use building includes over 2,700 SF of ground-level commercial/retail space, together with two (2!) spacious, well-designed 2 bedroom, 2 bath residential apartments upstairs. Imagine the possibilities here. This is an ideal property for a 1031 exchange, as it generates nearly $5,500/month in rental income (a 6.4 CAP return at asking price!), with 2 of tenants being long-term (12+ years). However, because each tenant is now on month -to-month agreements in anticipation of the sale, the building is also well suited for an owner-user who could have their business operations downstairs, occupy one of the two upstairs apartments, and rent out the other one for additional monthly income. The downstairs commercial space has high ceilings (10 - 12') and could potentially be split into two separate commercial units. Upstairs, you'll quickly realize these are not your average, run-of-the-mill apartments. Unit A has just had a lovely interior refresh, incl. new paint, flooring, quartz countertops, appliances, plumbing and lighting fixtures.... making it perfect for an owner/user! As an owner-occupant, imagine using $3,500/month in rental income from the other 2 units to offset your mortgage - talk about smart investing!! Each upstairs unit includes 9' volume ceilings, recessed can lighting, spacious laundry rooms and LOTS of storage. You'll also find outdoor balconies on the front and back side of each unit (one off the living area and another off the primary bedroom of each unit). There is plenty of street parking, as well as a parking area in the back, accessed via an alley easement. The entire building is fire sprinklered, and all three units have brand new HVAC systems (installed in 2026). The replacement cost of a building of this caliber is at least 2X this asking price! Growth in San Miguel has been steady, and a new 180-unit development has been approved less than a mile away from this property. This may just be the ideal investment, especially at the aggressive new price of $795,000!

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Detail Ic Property Details

Property Type : ResidentialIncome

Price : $795,000

AD Id : 91643904

MLS Id : NS26100256

Beds : 4

Lot Size : 3,500 Sq. Ft

Year Built : 2008

County : San Luis Obispo

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Feature Features

  • Interior Features

    Balcony, HighCeilings, AllBedroomsUp
    Roof: Composition
    Appliances: Dishwasher, GasRange, Microwave
    Laundry Features: Inside
    Window Features: DoublePaneWindows

  • Heating & Cooling

    Has Heating: Yes Heating: Central Has Cooling: Yes Cooling: CentralAir

  • Building Information

    Year Built: 2008
    Building Area Total: 5510
    Construction Materials: Stucco, WoodSiding
    Stories: 2
    Pool Features: None
    Private Pool: No
    View: Mountains

  • Exterior Features

    Exterior Features: RainGutters

  • Lot Information

    Main Square Feet: 3500 Lot Size Acres: 0.0803 Lot Size Source: Assessor Lot Size Square Feet: 3,500 Lot Description: NearPublicTransit,StreetLevel,ZeroLotLine

  • Listing Price Information

    Listing Price: $795000
    Original Price: $895000
    Cash, CashToNewLoan, Exchange1031, OwnerMayCarry

  • Tax Information

    Parcel Number: 021141012

  • Location Information

    Direction: Mission Street off Hwy 101. Proceed to 1470 Mission. Use GPS if you need help. WaterSource: Public
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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 10/05/2026 @ 21:34

MLS: NS26100256 LISTED BY: Scott Ehrke, GUIDE Real Estate 805-237-4060 SOURCE: CRMLS

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