$3,050,000
3411 Spring ST
Paso Robles, CA, 93446
Property Description
(PORTFOLIO SALE) Combined portfolio 3411 Spring Street and 3505 Spring Street offered at $5,000,000. 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 6.76% 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
*14 Covered Carport Spaces
*100% Occupied — 14/14 Units
*Attractive Entry Basis at ~$263/SF
Investment Highlights:
*Unit Mix: (10) 1 Bed/1 Bath; (4) 2 Bed/1 Bath
*14 Covered Carport Spaces
*100% Occupied — 14/14 Units
*Attractive Entry Basis at ~$263/SF
Property Details
Price:
$3,050,000
MLS #:
PI26094992
Status:
Active
Beds:
0
Baths:
0
Type:
Single Family
Subtype:
Apartment
Neighborhood:
psorpasorobles
Listed Date:
May 29, 2026
Total Sq Ft:
11,808
Lot Size:
16,425 sqft / 0.38 acres (approx)
Year Built:
1978
Schools
Interior
Cooling
WW
Heating
WL
Laundry Features
AR
Levels
U
Exterior
Accessibility Features
PK
Architectural Style
TRD
Common Walls
_2CW
Community Features
SDW, STM, SL, CRB, CW
Fencing
WD
Garage Spaces
14
Parking Spots
14
Parking Total
14
Spa Features
NO
Financial
Maintenance Fee
$10,977
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Courtesy of Invest SLO. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than Mohr Real Estate Group include the name of the listing broker. Neither the listing company nor Mohr Real Estate Group shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2026. California Regional Multiple Listing Service. All rights reserved. 3411 Spring ST
Paso Robles, CA
