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    3425 Spring Street

    Paso Robles, CA 93446
    • $2,350,000
    • STATUS: Active
    • ON SITE: 150 days
    • ID#: PI20237088
    $2,350,000
    • 0
      BEDS
    • 0.3
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 9,006
      SQFT
    • $261
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1978
    County:

    School Ratings & Info

    Description

    10-unit apartment building in beautiful Paso Robles. Located north of the downtown area, this apartment building is comprised of all two-bedroom one and a half bath spacious townhome style units, each with its own private patio area. The complex offers on-site laundry and all units are separately metered for gas & electricity. Recent capital improvements include a new roof, exterior paint and more.Enjoy the cash-flow and attractive financing due to the strong current income, plus the upside in rents in this strong market. 100% rent collection during COVID!HIGHLIGHTS+G- Stable and predictable income and cash flow+G- 12-15% potential upside in rents +G- Well maintained with many recent upgrades+G- Townhome style units with private patios+G- Very low maintenance+G- Located in Opportunity Zone

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-04-11T00:25:45.477. 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 Doherty Real Estate Group | eXp Realty of California, Inc.. Licensed in the State of California, USA.
    www.bestorangecountyhomesearch.com/homes/111780744
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    3425 Spring Street Paso Robles, CA 93446

    • Price: $2,350,000
    • Status: Active
    • ID#: PI20237088
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.3
    Acres
    9,006
    SQFT
    $261
    $/SQFT
    1978
    Built
    Neighborhood:
    Pr City Limits West(120)
    County:
    San Luis Obispo
    Area:
    Pric - Pr Inside City Limit
    Property Description
    10-unit apartment building in beautiful Paso Robles. Located north of the downtown area, this apartment building is comprised of all two-bedroom one and a half bath spacious townhome style units, each with its own private patio area. The complex offers on-site laundry and all units are separately metered for gas & electricity. Recent capital improvements include a new roof, exterior paint and more.Enjoy the cash-flow and attractive financing due to the strong current income, plus the upside in rents in this strong market. 100% rent collection during COVID!HIGHLIGHTS+G- Stable and predictable income and cash flow+G- 12-15% potential upside in rents +G- Well maintained with many recent upgrades+G- Townhome style units with private patios+G- Very low maintenance+G- Located in Opportunity Zone
    Exterior Features

    Garage Spaces 0.00 Lot Features Rectangular Lot Lot Size Source Assessor Lot Size Units Square Feet Parking Total 0.00 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Laundry Features Common Area Levels Two

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 4.47 Community Features CurbsGuttersSidewalks Country Us Electric Expense 298.00 Elevation Units Feet Fuel Expense 536.00 Gross Income 159600.00 Gross Multiplier 14.72 Gross Operating Income 156909.00 Gross Scheduled Income 159600.00 Insurance Expense 2634.00 Land Lease YN No Laundry Equipment Own Lease Lease Laundry Income 749.00 Laundry YN Yes Maintenance Expense 5793.00 Net Operating Income 104952.00 New Construction YN No New Taxes Expense 25850.00 Number Of Separate Electric Meters 10 Number Of Separate Gas Meters 10 Number Of Separate Water Meters 1 Operating Expense 51957.00 Other Expense 1792.00 Other Expense Description Legal/Ac Professional Management Expense 0.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other Pr City Limits West(120) Total Expenses 51957.00 Trash Expense 3961.00 Water Sewer Expense 11093.00 Water Source Public Year Built Source Public Records Zoning R4

    Listing provided courtesy of Jason Hart of Hart Commercial Real Estate


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-04-11T00:25:45.477. 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 Doherty Real Estate Group | eXp Realty of California, Inc.. Licensed in the State of California, USA.
     
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    Doherty Real Estate Group | eXp Realty of California, Inc.
    27101 Puerta Real
    Mission Viejo CA, 92691