Home | San Luis Obispo County | Paso Robles | 93446 | 3411 & 3505 Spring St
3411 & 3505 Spring St, Paso Robles, CA 93446
MLS: CRPI26117034 | Status: | Price: $5,000,000
Beds/Baths: – / –
Property Type: Residential Income
Quick Facts
| Beds |
Baths |
Sq Ft |
Sq Ft Lot |
Yr Built |
| – |
– |
– |
1 |
1968 |
The Spring Street Portfolio is a rare opportunity to acquire two adjacent multifamily properties totaling 24 units in the heart of Paso Robles, offered at $5,000,000 — approximately $263/SF for 3411 Spring Street and $380/SF for 3505 Spring Street — with a combined stabilized cap rate of 7.17% and annual rent upside of approximately $155,400 across both properties. The portfolio consists of 3411 Spring Street, a 14-unit two-story walk-up built in 1970 spanning approximately 11,748 rentable square feet, and 3505 Spring Street, a 10-unit two-story property originally constructed as a motel and thoughtfully converted to residential use, spanning approximately 5,000 rentable square feet. Together, the properties sit on adjacent lots totaling over ±0.79 acres along the Spring Street corridor, zoned PR/R4 and T-4NC respectively. Both properties are managed by MPM Inc., offering a seamless transition for new ownership. 3505 Spring Street sits within a federally designated Opportunity Zone, providing meaningful tax advantages for qualifying investors, and operates under a RUBS program implemented in October 2025 through which tenants pay approximately 90% of gross utility costs. With current rents averaging well below market across both properties — several tenants at 3411 having been in
| Field |
Value |
| MLS # |
CRPI26117034 |
| MLS Source |
California Regional MLS |
| Days on Site |
6 |
Features
Interior Features
| Feature |
Details |
| Laundry |
Community Facility |
| Cooling |
Window/Wall Unit |
| Heating |
Wall Furnace |
Exterior Features
| Feature |
Details |
| Style |
Traditional |
| Feature |
Details |
| Garage/Parking |
Assigned Spaces, Common Parking Area, Covered Parking, Other, Parking Area, Garage: 14 Car(s) |
| HOA Fee |
$0 |
| Listing Agent |
Co-Listing Agent |
| Abel Contreras |
Chelsea King |
| Invest SLO |
|
| License #: 02062620 |
License #: 02152275 |
| Phone: – |
Phone: (805) 540-9333 |
Property Units
| # Buildings |
# Leased Units |
# Total Units |
| 2 |
23 |
– |
School Ratings
School data provided by GreatSchools.org
Nearby Schools
Disclosures
©2026 California Regional MLS. All rights reserved. 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. Information provided is for personal, non-commercial use by the viewer and may not be redistributed without explicit authorization from California Regional MLS.
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This listing information is up-to-date as of June 08, 2026. For the most current information, please contact Abel Contreras.