NOT LISTED FOR SALE

3505 Spring St Paso Robles, CA 93446

5 Beds
7 Baths
5,000 Sq Ft
0.39 Acres

Last Sold August 14, 2023

Last sale price $1,510,000 $302 Per Sq Ft

15 Days on Market

Highlights

  • No HOA
  • Cooling System Mounted To A Wall/Window
  • Outdoor Storage
  • Paso Robles High School Rated A-
  • Awning
  • Wall Furnace

About This Home

As of August 2023

10-unit apartment building located in an OPPORTUNITY ZONE in Paso Robles! Five studios and one 1 bedroom unit on the upper level (each boasts a full bath). One Two bed two bath larger unit on the lower level; and three one-bedroom units . This property has a paved parking lot, a fenced backyard, and covered patio areas.

Last Agent to Sell the Property

Abel Contreras

Invest SLO License #02062620 Listed on: 07/03/2023

Last Buyer's Agent

Chelsea King

Invest SLO License #02152275

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1968

Lot Details

  • 0.39 Acre Lot
  • Two or More Common Walls
  • Density is 26-30 Units/Acre

Home Design

  • Apartment
  • Entry on the 1st floor
  • Fire Rated Drywall
  • Asphalt
  • Stucco

Interior Spaces

  • 5,000 Sq Ft Home
  • 2-Story Property
  • Awning

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 7 Bathrooms

Parking

  • 20 Open Parking Spaces
  • 20 Parking Spaces
  • Parking Available
  • Driveway
  • Paved Parking
  • Assigned Parking

Outdoor Features

  • Exterior Lighting
  • Outdoor Storage
  • Rain Gutters

Location

  • Suburban Location

Utilities

  • Cooling System Mounted To A Wall/Window
  • Wall Furnace
  • Natural Gas Connected

Listing and Financial Details

  • Assessor Parcel Number 008031028

Community Details

Overview

  • No Home Owners Association
  • 10 Units
  • Pr City Limits West Subdivision

Building Details

  • 10 Leased Units
  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • 1 Separate Water Meter
  • Cable TV Expense $3,199
  • Electric Expense $13,308
  • Fuel Expense $2,736
  • Insurance Expense $2,689
  • Maintenance Expense $6,855
  • Professional Management Expense $6,852
  • Trash Expense $4,992
  • Water Sewer Expense $9,912
  • New Taxes Expense $1,687
  • Operating Expense $70,151
  • Gross Income $137,100
  • Net Operating Income $66,949

Property Details

Home Type

Multi-Family

Year Built

Built in 1968

Lot Details

0

Listing Details

  • Assessments: No
  • CapRate: 4.47
  • Professional Management Expense: 6852.00
  • Property Attached: Yes
  • Road Surface Type: Paved
  • Subdivision Name Other: PR City Limits West(120)
  • Water Sewer Expenses: 9912.00
  • Zoning: T-4NC
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 008031028
  • Year Built: 1968
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 302.00

Exterior Features

  • Other Structures: Storage
  • Exterior Features: Awning(s)
  • Pool Private: No
  • Construction Materials: Asphalt, Drywall Walls, Stucco

Garage/Parking

  • Parking: Yes
  • Parking Features: Assigned, Asphalt, Paved, On Site
  • Total Parking Spaces: 20.00
  • Uncovered Spaces: 20.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: No
  • Heating Type: Wall Furnace
  • Sewer: Public Sewer
  • Trash Expense: 4991.50
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Gutters, Sidewalks, Storm Drains, Street Lights, Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 26-30 Units/Acre
  • Lot Size Sq Ft: 16948.00
  • Lot Size Acres: 0.3891

Rental Info

  • Tenant Pays: None

Multi Family

  • Average1 Bed Area: 500 Square Feet
  • Average2 Bed Area: 1100 Square Feet
  • Average Studio Area: 400 Square Feet
  • Cable TV Expense: 3199.20
  • Electric Expense: 13308.00
  • Fuel Expense: 2736.00
  • Gross Income: 137100.00
  • Gross Multiplier: 10.93
  • Gross Scheduled Income: 137100.00
  • Insurance Expense: 2688.90
  • Lot Size Area: 16948.0000 Square Feet
  • Maintenance Expense: 6855.00
  • Maintenance Percent: 5.00
  • Net Operating Income: 66948.57
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 10
  • Number Of Units Total: 10
  • Operating Expense: 70151.40
  • Rent Control: No
  • Total Actual Rent: 11425.00
  • Total Expenses: 70151.40
  • Vacancy Allowance Rate: 2.00

Tax Info

  • New Taxes Expense: 1686.70
  • Tax Census Tract: 101.04

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Average Value
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Sold Price
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Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
08/14/2023 08/14/23 Sold $1,510,000 +0.7% $302 / Sq Ft
07/18/2023 07/18/23 Pending -- -- --
07/03/2023 07/03/23 For Sale $1,499,000 +112.0% $300 / Sq Ft
01/03/2014 01/03/14 Sold $707,000 -- $141 / Sq Ft View Prior Sale
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

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 $16,787 $1,540,200 $255,000 $1,285,200
2024 $9,292 $1,510,000 $250,000 $1,260,000
2023 $9,292 $833,023 $200,301 $632,722
2022 $9,154 $816,690 $196,374 $620,316
2021 $8,998 $800,677 $192,524 $608,153
2020 $8,875 $792,468 $190,550 $601,918
2019 $8,750 $776,930 $186,814 $590,116
2018 $8,631 $761,697 $183,151 $578,546
2017 $8,115 $746,762 $179,560 $567,202
2016 $7,956 $732,121 $176,040 $556,081
2015 $7,927 $721,125 $173,396 $547,729
2014 $7,686 $710,208 $170,771 $539,437
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PI23118595

California Regional Multiple Listing Service (CRMLS)