3411 Spring St Paso Robles, CA 93446
Estimated payment $18,622/month
Highlights
- Traditional Architecture
- No HOA
- Accessible Parking
- Paso Robles High School Rated A-
- Cooling System Mounted To A Wall/Window
- 3-minute walk to Uptown Family Park
About This Home
(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
Listing Agent
Invest SLO Brokerage Phone: 805-709-7143 License #02062620 Listed on: 05/29/2026
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1978
Lot Details
- 16,425 Sq Ft Lot
- Two or More Common Walls
- Wood Fence
- Rectangular Lot
- Paved or Partially Paved Lot
- Density is 11-15 Units/Acre
Parking
- 14 Car Garage
- Parking Available
- Parking Lot
- Assigned Parking
Home Design
- Traditional Architecture
- Apartment
- Entry on the 1st floor
Interior Spaces
- 11,808 Sq Ft Home
- 2-Story Property
- Laundry in unit
Bedrooms and Bathrooms
- 14 Bedrooms
- 10 Bathrooms
Accessible Home Design
- Accessible Parking
Outdoor Features
- Exterior Lighting
- Rain Gutters
Utilities
- Cooling System Mounted To A Wall/Window
- Wall Furnace
- Natural Gas Connected
- Phone Available
- Cable TV Available
Listing and Financial Details
- Legal Lot and Block 1 / 210
- Assessor Parcel Number 008031009
Community Details
Overview
- No Home Owners Association
- 14 Units
Amenities
- Laundry Facilities
Building Details
- 14 Leased Units
- 15 Separate Electric Meters
- 15 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $1,344
- Fuel Expense $7,645
- Gardener Expense $2,400
- Insurance Expense $12,500
- Maintenance Expense $10,977
- Pest Control $1,470
- Professional Management Expense $9,879
- Trash Expense $6,084
- Water Sewer Expense $5,604
- New Taxes Expense $34,875
- Operating Expense $92,778
- Gross Income $221,651
- Net Operating Income $120,181
Map
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $21,754 | $1,995,899 | $579,629 | $1,416,270 |
| 2024 | $21,399 | $1,956,764 | $568,264 | $1,388,500 |
| 2023 | $21,399 | $1,918,397 | $557,122 | $1,361,275 |
| 2022 | $21,081 | $1,880,783 | $546,199 | $1,334,584 |
| 2021 | $20,721 | $1,843,906 | $535,490 | $1,308,416 |
| 2020 | $21,692 | $1,936,821 | $562,301 | $1,374,520 |
| 2019 | $21,384 | $1,898,845 | $551,276 | $1,347,569 |
| 2018 | $21,094 | $1,861,614 | $540,467 | $1,321,147 |
| 2017 | $19,834 | $1,825,113 | $529,870 | $1,295,243 |
| 2016 | $19,446 | $1,789,328 | $519,481 | $1,269,847 |
| 2015 | $19,373 | $1,762,451 | $511,678 | $1,250,773 |
| 2014 | $18,700 | $1,727,928 | $501,655 | $1,226,273 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 05/29/2026 05/29/26 | For Sale | $3,100,000 | -- | $263 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PI26094992
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Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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