Description
(PORTFOLIO SALE) Combined portfolio 3411 Spring Street and 3505 Spring Street offered at $5,000,000. 3505 Spring Street is a unique 10-unit multifamily property in the heart of Paso Robles, offered at approximately $190,000/unit, $380/SF with a stabilized cap rate of 7.84% 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 ~$380/SF*Attractive Entry Basis: $190,000/unit*Stabilized Cap Rate of 7.84% at Market Rents*Annual Rent Upside of ~$53,340 as Units Turn Over to Market
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0BEDS
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0.39ACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Description
(PORTFOLIO SALE) Combined portfolio 3411 Spring Street and 3505 Spring Street offered at $5,000,000. 3505 Spring Street is a unique 10-unit multifamily property in the heart of Paso Robles, offered at approximately $190,000/unit, $380/SF with a stabilized cap rate of 7.84% 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 ~$380/SF*Attractive Entry Basis: $190,000/unit*Stabilized Cap Rate of 7.84% at Market Rents*Annual Rent Upside of ~$53,340 as Units Turn Over to Market
Based on information from California Regional Multiple Listing Service, Inc. as of 2026-06-08T00:27:15.707. 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 deemed reliable but is not guaranteed accurate by the MLS or Equity Union. Licensed in the State of California, USA.