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Berkshire Hathaway HomeServices California Properties

3505 Spring Street, Paso Robles, CA 93446

$1,699,000 Approx. USD

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Berkshire Hathaway HomeServices California Properties 11828 Rancho Bernardo Rd, Ste 210
San Diego, CA 92128 888-995-7575

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Listing Agent

Abel Contreras | abel@investslo.com
Lic#: 02062620
Broker: Courtesy of Invest SLO
Phone: 805-709-7143

Co Listing Agent

Chelsea King | chelsea@investslo.com
Lic#: 02152275
Broker: Courtesy of Invest SLO
Phone: 805-540-9333

Listing Details

Property type: Apartment (Multi-Family)

Property Sub-Type:

Status: Active

Listing ID: PI26094991

List price is $1,699,000 Reduced by $151,000 on 7/1/2026

Price: $1,699,000

Rental Rate: $1,699,000

Lot Size:

HOA Fee is $0.00

Built in 1968

2 stories

0.39 acres

County: San Luis Obispo

Property style: Traditional

Zoning: T-4NC

Parking description: Assigned,Asphalt,On Site,Paved,Uncovered

Lot description: SixToTenUnitsAcre,Paved

Heating/cooling: Wall/Window Unit(s)

Last Updated: 7/1/2026

Days On Market (DOM): 69

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The style of this listing is Traditional.
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Lat/Long: 35.650742, -120.693743.
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Lot Details

Easement Present: (Easement present. For more information, contact agent.)

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Property Details

(PORTFOLIO SALE) Combined portfolio 3411 Spring Street and 3505 Spring Street offered at $4,500,000. 3505 Spring Street is a unique 10-unit multifamily property in the heart of Paso Robles, offered at approximately $169,000/unit, $339/SF with a stabilized cap rate of 8.91% and annual rent upside of approximately $53,340. The property spans approximately 5,000 rentable square feet across two stories on a ±0.40-acre lot. The diverse unit mix includes five (5) studios with one bathroom, one (1) studio with two bathrooms, two (2) one-bedroom/one-bathroom units, one (1) one-bedroom/two-bathroom unit, and one (1) two-bedroom/two-bathroom unit — catering to a broad renter demographic. The property is zoned T-4NC and sits within a federally designated Opportunity Zone, providing meaningful tax advantages for qualifying investors. A RUBS program implemented in October 2025 per CA Civil Code §827 passes approximately 90% of gross utility costs back to tenants, materially improving net operating income. With current rents below market and one unit presently vacant, a new owner is positioned to immediately begin closing the income gap toward stabilized returns. Investment Highlights: *Federally Designated Opportunity Zone — Significant Tax Incentives for Qualifying Investors *RUBS Program in Place Since October 2025 — Tenants Pay ~90% of Gross Utilities *Attractive Entry Basis at ~$339/SF *Attractive Entry Basis: $169,000/unit *Stabilized Cap Rate of 8.91% at Market Rents *Annual Rent Upside of ~$53,340 as Units Turn Over to Market

Financials

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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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