3411 Spring Street, Paso Robles, CA 93446

• 5 beds |
• 4 baths

Property Description

3411 Spring Street is a 14-unit multifamily property situated in a well-established Paso Robles neighborhood, offered at approximately $263/SF with a stabilized cap rate of 7.60 % and annual rent upside of approximately $102,060. Built in 1970 and spanning approximately 11,748 rentable square feet across two stories, the property consists of ten (10) one-bedroom/one-bathroom apartments and four (4) two-bedroom/one-bathroom apartments all currently occupied. Units feature functional floor plans with ample natural light, and residents enjoy 14 covered carport spaces and on-site parking. The property is zoned PR/R4, supporting its established multifamily use, and sits on a generous 0.39-acre lot. Located minutes from downtown Paso Robles, residents have convenient access to the city's acclaimed dining, wine country, shopping, and employment corridors. With current rents averaging well below market rate several tenants having been in place since as early as 2008 a new owner has a clear path to substantially increase income through organic lease-up as units turn over. The appraised value of $3,550,000 (January 2026) further underscores the asset's underlying strength. Investment Highlights: *Unit Mix: (10) 1 Bed/1 Bath; (4) 2 Bed/1 Bath * Stabilized cap rate of 7.60% *14 Covered Carport Spaces *100% Occupied 14/14 Units * $200,000 per unit *Attractive Entry Basis at ~$237.04/SF

Listing Status:

Active

Date Added:

April 30, 2026

Data Last Updated:

July 27, 2026 at 7:13AM

Listing Office:

Invest SLO : 805-709-7143

Listing Agent:

Abel Contreras : 805-709-7143

MLS ID:

PI26094992

Interior

• A/C: Wall/Window

Exterior

• General: N/K
• Pool: N/K

Construction

• General: 2 Story

Location

• HOA Amenities: 0.0
• Originating MLS: California Regional MLS
• County: San Luis Obispo

Lot

• Zoning: Assessor008031009

Financial

• Source: California Regional MLS