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Sold on 01/31/2020
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3440 Spring St, Paso Robles, CA 93446

$2,267,298

Last sold 01/31/2020 for $1.69M

  • —

    bed

  • —

    bath

  • 4,950

    Sqft ($342/Sqft)

Multi-family not for sale
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About 3440 Spring St

Property type Multi-family
Year built 1950
HOA fee $0/month
Lot size 0.52 Acre
Movoto estimate
Rental estimate
Property description
Fantastic Investment Opportunity in Paso Robles! This 12 Unit Complex was once used as a local Motel, but is currently functioning as fully occupied apartments! Great 7+ CAP Rate! Included on the property is a 2bd/1ba home plus Office, 5- 1 "Bedroom" Units, 6- Studio Units, large workroom/storage above unit 12, and on site coin-op laundry! Unit #’s 6-9 have fenced backyards and all 12 Units have assigned parking. All units have separate sub-meters, allowing the property owner to charge tenants for their own electricity use. There is a large marquee sign for "Spanish Oaks Apartments" displayed at the entry. Newer roofs, have been installed on all multi-unit buildings and newer paint. This property has a long term history of no-vacancy and is a turnkey investment opportunity.
Listed by
Listing Agent - Maci Umbertis
Listing Office - RE/MAX Parkside Real Estate
Source: CRMLS mls logo
MLS#NS19145903 • last updated 6 years ago
Movoto checked CRMLS for data 3 minutes ago
Overview
Levels/Style One
SubType Commercial/Residential
Status Closed
Lot Size (Acres) 0.52
Lot Size (SqFt) 22650
Year Built 1950
Interior
Laundry Community
Exterior
Building Area Square Feet, 4950
Lot Description Level With Street
Amenities / Utilities
Sewer/ Septic Public Sewer
Water Source Public
Pool None
Location
County San Luis Obispo
Community Features Sidewalks
Subdivision PR City Limits West(120), PR City Limits West(120)
Zoning C2
Directions Spring St North To 34th
APN 8041041
Multifamily Details
Tenant Pays Electricity
Expense: Trash 2738
Operating Expense 42717
Cap Rate 7
Expense: Insurance 2292
Total Expenses 42717
Expense: Maintenance 1560
Expense: Water/ Sewer 5208
Gross Income 14395
Expense: Electric 6390
Gross Scheduled Income 172740
Expense: Supplies 269
Expense: Fuel 3795
Lot/ Land Details
Road Frontage City Street
Road Surface Paved
$2.26M
Range: $2.04M-$2.49M
Last 30 days 
Rental est.: $1,932/month
Gross rent multiplier: 73.1
  • Jan 2020
    mls logo MLS # NS19145903
  • Jan 31, 2020 Sold
    $1,695,000 (-5.6%)
  • Dec 18, 2019 Pending
    —
  • Dec 5, 2019 Listed
    —
  • Nov 21, 2019 Pending
    —
  • Oct 4, 2019 Price Change
    $1,795,000 (-5.3%)
  • Jun 21, 2019 Listed
    $1,895,000
  • Jun 2019
    mls logo MLS # 13529756
  • Jun 21, 2019 Listed
    $1,895,000
  • Year Property taxes Tax assessment
  • 2024
    $20,205 +1.7%
    $1,817,377 +2.0%
  • 2023
    $19,875 +1.5%
    $1,781,744
  • 2022
    $19,580 +1.7%
    $1,781,744 +2.0%
  • 2021
    $19,245 +107.8%
    $1,746,809 +111.25%
  • 2020
    $9,261
    $826,909
  • 3440 Spring St
    $1.69M
  • —
  • 93446
    $892K 0% y/y
  • Paso Robles
    $893K 0% y/y
No chart available
Statistics calculated by Movoto

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5/10
Georgia Brown Elementary School
public Grades K-5
Paso Robles Joint Unified School District
5/10
George H. Flamson Middle School
public Grades 6-8
Paso Robles Joint Unified School District
6/10
Paso Robles High School
public Grades 9-12
Paso Robles Joint Unified School District
Source: GreatSchools.org © 2026. All rights reserved.

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  • San Luis Obispo County
  • Paso Robles
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  • 3440 Spring St
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CRMLS Multiple Listing Service™ system
The real estate listing data marked with this icon comes from the IDX program of the CRMLS Multiple Listing Service™ system.
Based on information from California Regional Multiple Listing Service, Inc. as of 11/12/2026. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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