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Sold on 08/14/2023
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3505 Spring St, Paso Robles, CA 93446

$1,510,000

Last sold 08/14/2023 after 42 Days

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    bed

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    bath

Multi-family not for sale
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About 3505 Spring St

Property type Multi-family
Year built 1968
HOA fee $0/month
Lot size 0.39 Acre
Rental estimate
Property description
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.
Listed by
Listing Agent - Abel Contreras
Listing Office - Invest SLO
Source: CRMLS mls logo
MLS#PI23118595 • last updated 3 years ago
Movoto checked CRMLS for data 7 minutes ago
Overview
Levels/Style Two
Type Residential Income
SubType Apartment
Status Closed
Lot Size (Acres) 0.3891
Lot Size (SqFt) 16948
Year Built 1968
Interior
Laundry None
Exterior
Construction Asphalt, Drywall Walls, Stucco
Building Area Square Feet, 5000
Parking Assigned, Asphalt, Paved, On Site
# Uncovered Spaces 20
# Parking Spaces 20
Other Structures Storage
Lot Description 26-30 Units/Acre
Amenities / Utilities
Sewer/ Septic Public Sewer
Water Source Public
Pool None
Location
County San Luis Obispo
Community Features Curbs, Gutters, Sidewalks, Storm Drains, Street Lights, Suburban
Subdivision PR City Limits West(120), PR City Limits West(120)
Zoning T-4NC
Directions Head North On Highway 101, Take Spring St Exit.
APN 8031028
Multifamily Details
Tenant Pays None
Vacancy Allowance Rate 2
Expense: Trash 4991.5
Operating Expense 70151.4
Cap Rate 4.47
Expense: Insurance 2688.9
Total Expenses 70151.4
Expense: Maintenance 6855
Expense: Water/ Sewer 9912
Gross Income 137100
Expense: Electric 13308
Gross Multiplier 10.93
Gross Scheduled Income 137100
Expense: Fuel 2736
Lot/ Land Details
Road Surface Paved
Average Studio Area 400
Rental est.: $1,920/month
Gross rent multiplier: 65.5
  • Sep 2026
    mls logo MLS # PI26094991
  • Sep 10, 2026 Active
    —
  • Jun 30, 2026 Price Change
    $1,699,000 (-8.2%)
  • Jun 23, 2026 Price Change
    $1,850,000 (-2.6%)
  • Apr 30, 2026 Listed
    $1,900,000 (-19.5%)
  • Mar 2026
    mls logo MLS # OC26063534
  • Mar 24, 2026 Price Change
    $2,359,000 (-1.7%)
  • Mar 23, 2026 Listed
    $2,399,000 (+20.0%)
  • Nov 2024
    mls logo MLS # OC24147835
  • Nov 8, 2024 Price Change
    $2,000,000 (-2.4%)
  • Oct 30, 2024 Price Change
    $2,050,000 (-2.4%)
  • Oct 2, 2024 Price Change
    $2,100,000 (-6.7%)
  • Sep 5, 2024 Price Change
    $2,250,000 (-2.2%)
  • Aug 15, 2024 Listed
    $2,300,000 (+4.5%)
  • Jun 2024
    mls logo MLS # OC24114363
  • Jun 5, 2024 Listed
    $2,200,000 (+45.7%)
  • Aug 2023
    mls logo MLS # PI23118595
  • Aug 14, 2023 Sold
    $1,510,000 (+0.7%)
  • Jul 18, 2023 Pending
    —
  • Jul 3, 2023 Listed
    $1,499,000 (+112.0%)
  • Jan 2014
    mls logo MLS # PR195790
  • Jan 3, 2014 Sold
    $707,000 (-5.1%)
  • Apr 19, 2013 Listed
    $745,000
  • Year Property taxes Tax assessment
  • 2024
    $16,787 +80.7%
    $1,510,000
  • 2023
    $9,292 +1.5%
    $1,510,000 +81.27%
  • 2022
    $9,154 +1.7%
    $833,023 +2.0%
  • 2021
    $8,998 +1.4%
    $816,690 +3.06%
  • 2020
    $8,875
    $792,468
  • 3505 Spring St
    $1.51M
  • —
  • 93446
    $885K -1% y/y
  • Paso Robles
    $886K -1% y/y
No chart available
Statistics calculated by Movoto

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Source: GreatSchools.org © 2026. All rights reserved.

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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 10/31/2026. 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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