Seller's Agent in 2021
Scott Ehrke
GUIDE Real Estate
(805) 391-0509
97 Total Sales
528 Oak St Paso Robles, CA 93446
4
Beds
4
Baths
3,000
Sq Ft
7,000
Sq Ft Lot
Highlights
- Property is near public transit
- Great Room
- Cottage
- Paso Robles High School Rated A-
- No HOA
- Double Pane Windows
About This Home
As of December 2021Wonderful westside Paso Robles multi-family investment opportunity! Located just blocks from the vibrant Paso Robles downtown district, this offering includes a tastefully remodeled (and completely adorable!) 2BR/1BA 1940's home, a modest studio unit, and a sizable and newer block-construction building with 2 additional residential units. All together, there are 4 units on this street-to-alley T3-N (multi-family) lot - all within short walking distance to restaurants, banking, shopping and recreation. There is also an elaborate (owned) solar power system, providing additional monthly revenue to the property owner. Please note that the photos of the front house were taken approx. 2 years ago, prior to the current tenant moving in. The income numbers reflect the outgoing tenant's current rental rate ($1800/mo), but this unit will be delivered vacant and freshened up at close. About the home, it had a very elaborate remodel completed within the last 3 years, including all new kitchen & bath appointments, floor & wall coverings (hand-troweled drywall for a contemporary touch), windows, doors & hardware, plumbing, HVAC, etc. At approx. 800SF, it is cozy, but absolutely cute as a button! It also has a walk-in basement - ideal for tenant storage or to develop an ultimate wine cellar! Whether you choose to live in it as a second home in Paso wine country, or rent it again, it will treat you well. Behind the home is a vintage (70ish year old) 350SF Studio unit, currently rented to a long-term tenant at $800/month. It includes a 3/4 bath, fun tongue & groove pine ceiling and wall details, and a recently installed Mini-split HVAC. And then there is the duplex, accessed off the alley. This 36' x 50' duplex structure was built in 1989 and includes two LARGE 1-bdrm units (est. 900SF each) with BIG (16' tall) attached garages. One tenant has been here for 18 years while the other has been here just about a year and a half ($1,389 and $1,400/mo respectively). All tenants gel cohesively, which is nice with a multi-family property. Together with the solar power income, this property generates approx. $5,700/mo based on current rents. Further property improvements could easily push this above $6,000/mo. This is also located in 1 of just 3 'Qualified Opportunity Zones' in SLO County (tax benefits)! Zoning qualifies for vacation rental use (property changes & license would be needed). Offer submission deadline is 5pm on Wed, Nov 3rd!
Last Agent to Sell the Property
GUIDE Real Estate License #01012637 Listed on: 10/29/2021
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1942
Lot Details
- 7,000 Sq Ft Lot
- Property fronts an alley
- 1 Common Wall
- Wood Fence
- Rectangular Lot
Parking
- 2 Car Garage
Home Design
- Cottage
- Quadruplex
- Combination Foundation
- Raised Foundation
- Composition Roof
- Wood Siding
- Stucco
Interior Spaces
- 3,000 Sq Ft Home
- Double Pane Windows
- Great Room
- Laminate Flooring
- Laundry Room
Kitchen
- Gas Range
- Dishwasher
Bedrooms and Bathrooms
- 4 Bedrooms
- 4 Bathrooms
Location
- Property is near public transit
- Urban Location
Utilities
- High Efficiency Air Conditioning
- High Efficiency Heating System
Additional Features
- Solar owned by seller
- Shed
Listing and Financial Details
- Tenant pays for electricity
- Legal Lot and Block 9 / 125
- Assessor Parcel Number 009257004
Community Details
Overview
- No Home Owners Association
- 3 Buildings
- 4 Units
- Pr City Limits West Subdivision
Building Details
- 4 Leased Units
- 2 Separate Electric Meters
- 1 Separate Gas Meter
- 1 Separate Water Meter
- Fuel Expense $830
- Insurance Expense $1,500
- Trash Expense $1,095
- Water Sewer Expense $1,466
- Operating Expense $17,500
- Gross Income $68,500
- Net Operating Income $51,000
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Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/17/2021 12/17/21 | Sold | $955,000 | +2.1% | $318 / Sq Ft |
| 11/04/2021 11/04/21 | Pending | -- | -- | -- |
| 10/29/2021 10/29/21 | For Sale | $935,000 | -- | $312 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
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 | $10,825 | $993,184 | $291,832 | $701,352 |
| 2024 | $10,649 | $973,710 | $286,110 | $687,600 |
| 2023 | $10,649 | $954,618 | $280,500 | $674,118 |
| 2022 | $10,490 | $935,900 | $275,000 | $660,900 |
| 2021 | $3,138 | $286,196 | $143,098 | $143,098 |
| 2020 | $3,094 | $283,262 | $141,631 | $141,631 |
| 2019 | $3,049 | $277,708 | $138,854 | $138,854 |
| 2018 | $3,006 | $272,264 | $136,132 | $136,132 |
| 2017 | $2,825 | $266,926 | $133,463 | $133,463 |
| 2016 | $2,768 | $261,694 | $130,847 | $130,847 |
| 2015 | $2,756 | $257,764 | $128,882 | $128,882 |
| 2014 | $2,659 | $252,716 | $126,358 | $126,358 |
Source: Public Records
Agents Affiliated with this Home
-
Scott Ehrke
-
Leila Harrington
Buyer's Agent in 2021
Leila Harrington
Leila Harrington, Broker
(805) 712-7354
30 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: NS21224429
APN: 009-257-004
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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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