USACAPaso Robles3505 Spring St
3505 Spring St | Image 1
3505 Spring St | Image 2
3505 Spring St | Image 3
3505 Spring St | Image 4
3505 Spring St | Image 5
3505 Spring St | Image 6
3505 Spring St | Image 7

$1,900,000

For Sale

10 days ago

3505 Spring St, Paso Robles, CA

Condo

MLS® PI26094991

0 Bed

0 Bath

--

20 Parking

  • Key Facts
  • Description
  • Map

Key Facts

Type Apartment
Levels Residential Income
Size -
Garage 
HOA Fees 
Taxes 
Days Active 10
Approx. Age 1968
MLS® Number PI26094991

Property Address: 3505 Spring St, PASO ROBLES, CA, 93446

Average square foot calculated using Size range provided by listing agent.

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
MLS® NumberPI26094991
Locker
Ensuite Laundry
Balcony
Furnished
Laundry Level
Exposure
Exterior
Garage
Approx. Age1968
Stories2
Pets

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

May 29, 2026List Date
$1,900,000List Price
-End Date
Not Sold YetSold Price

For Sale

Jan 29, 2026List Date
$2,359,000List Price
  • Commute

Commute

Starting Address
Destination Address
3505 Spring St, Paso Robles, CA

Like what you see?

Complete the form and we'll be in touch. No login necessary.

Add a Comment
Loading...

Similar Listings

Comparable Properties

Explore eXpFind an AgentJoin eXpInvestor RelationsCompany CareersHome Guides
eXp LifeZoocasaSUCCESS®SUCCESS® LendingeXp RevenoseXp CommercialeXp LuxuryeXp Land and RanchAccessibility
Terms and ConditionsPrivacy Rights RequestPrivacy PolicyCookie PolicyBrand GuidelinesHelpSitemap

2219 Rimland Drive, Suite 301, Bellingham, Washington, 98226

1 833-303-0610

[email protected]

eXp REALTY

© 2024 eXp Realty. eXp World Holdings, Inc. All Rights Reserved.

DMCA Notice

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply

Fair Housing and Reasonable Accommodations

MLS Compliance Statements

Karen Richards - Designated Managing Broker, Broker Operations - TX

Texas Real Estate Commission information about brokerage services

Texas Real Estate Commission Consumer Protection Notice

eXp Realty® is committed to adhering to the guidelines of The New York State Fair Housing Regulations.The Fair Housing Notice →

*Standardized Operating Procedure for Purchasers of Real Estate Pursuant to Real Property Law 442-H.Learn More →

eXp Realty of California, Inc. | CA DRE# 01878277 | Deborah Penny - Designated Broker

eXp Realty of Southern California, Inc. | CA DRE#01325837 | Jason Crawford – Designated Broker

eXp Realty of Greater Los Angeles, Inc. | CA DRE# 01240990 | Mike Mendibles - Designated Broker

eXp Realty of Northern California, Inc. | CA DRE# 01951343 | Ryan Rosas - Designated Broker

© 2026 eXp Realty. eXp World Holdings, Inc. All Rights Reserved