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3411 Spring St
For Sale $2,799,000
$2,799,000
- Unknown Bedrooms
- Unknown Bathrooms
- Unknown Sq Ft
- 16,425 Sq Ft
Description
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 7.60 % 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
* Stabilized cap rate of 7.60%
*14 Covered Carport Spaces
*100% Occupied — 14/14 Units
* $200,000 per unit
*Attractive Entry Basis at ~$237.04/SF
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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $2,799,000 |
| Property Type | Condo/Co-Op |
| Usable Sqft | Unknown |
| Number of Stories | 2 stories |
| Parking Spots | 14 spots |
| Year Built | 1978 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| HOA Fees: | $0 |
| Association Name: | Unknown |
| Association Amenities: | Unknown |
| APN # | 008031009 |
| MLS # | PI26094992 |
| Property ID | 322889633 |
| Lot Sqft | 16,425 |
| Zoning | Unknown |
| Total Units | 14 |
| Days on Market | 72 |
| Original List Price | $3,100,000 |
| Date Updated | June 30, 2026 |
| Date Created | April 30, 2026 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | $219,540 | $0 |
| Net Income (Yr) | $ 123,555 |
| Cap Rate | 4.4% |
Listing Provided By
Abel Contreras an agent of Invest SLO. Lic #02062620
© 2026 CRMLS. All rights reserved. Some listings on this website are from CRMLS as of June 30, 2026 The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Robert Crawford
REAL ESTATE AGENT