3425 Spring St

Paso Robles, CA 93446

$2,175,000
Last Sold Price
2
Beds
20
Baths
9,006 Sq. Ft.
$242 / Sq. Ft.
9,006
Sq. Ft.
$242
per Sq. Ft.
Closed 6/15/21
Closed 6/15/21

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...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
• Stable and predictable income and cash flow
• 12-15% potential upside in rents
• Well maintained with many recent upgrades
• Townhome style units with private patios
• Very low maintenance
• Located in Opportunity Zone
  1. Listed by Jason Hart • DRE #01334694 • Brokerage DRE #01334694 • Hart Commercial Real Estate

Property Details for 3425 Spring Street

Parking Spaces Total
0
Private Pool
No
Total Units
10.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
9006
Assessor Parcel Number
008031015
Property Attached YN
true
LISTING UPDATED: 06/15/2021 05:34 AM

Property Details for 3425 Spring Street

StatusClosed
MLS #PI20237088
Days on Market155
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1978
Lot Size0.30 AC / 12,900 SF
CountySan Luis Obispo County

Location

Listing Courtesy of Hart Commercial Real Estate, Jason Hart, DRE #01334694

Sold By Invision Real Estate, Aaron Peck, DRE #01387499

Add your commute

Building Information for 3425 Spring Street

Stories2Residences-Year Built1978Building Size-Lot Size0.30 AC / 12,900 SF

Payment Calculator

$12,773 per month

30 year fixed, 6.15% Interest

Principal and Interest

$10,601

Property Taxes

$2,172

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 3425 Spring Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $159,600
  • Gross Scheduled Income: $159,600
  • Gross Operating Income: $156,909
  • Net Operating Income: $104,952
  • Laundry Income: $749
  • Gross Multiplier: 14.72
  • Cap Rate: 4.47
  • Financing: Other/Remarks
Expense Details
  • Operating Expense: $51,957
  • New Taxes Expense: $25,850
  • Fuel Expense: $536
  • Electric Expense: $298
  • Insurance Expense: $2,634
  • Maintenance Expense: $5,793
  • Professional Management Expense: $0
  • Other Expense: $1,792
  • Other Expense Description: Legal/Ac
  • Trash Expense: $3,961
  • Water Sewer Expense: $11,093
  • Total Expenses: $51,957
Tax / Assessment Info
  • Tax Block: 210
  • Tax Census Tract: 101.02
  • Tax Lot: 2
Community / Development
Community / Development
  • Community Features: Curbs, Gutters, Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
  • Laundry Equipment Own Lease: Lease
Exterior Features
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Rectangular Lot
  • Number Of Units: 10
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: PR City Limits West
  • Builders Tract Code: PR City Limits West(120)
Unit Information
Unit 1
  • Unit Type Units Total: 10
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $159,600
  • Unit Type Total Rent: $159,600
  • Unit Type Pro Forma: 180000
  • Unit Type Type: 1
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 10
  • Number Of Separate Water Meters: 1

Property History for 3425 Spring Street

DateEvent & SourcePriceAppreciation
Jun 15, 2021

Price Change

CLAW #PI20237088MR

$2,350,000—
Jun 15, 2021

Sold

CRMLS #PI20237088

$2,175,000—
Jun 15, 2021

Sold

SDMLS #PI20237088

$2,175,000—
Jun 15, 2021

Sold

CLAW #PI20237088MR

$2,175,000—
Jun 2, 2021

Sold (Public Record)

Public Record #1463596699

$2,175,000

+12.9% / yr

Apr 15, 2021

Pending

CLAW #PI20237088MR

—
Apr 15, 2021

Pending

SDMLS #PI20237088

—
Apr 15, 2021

Pending

CRMLS #PI20237088

—
Feb 10, 2021

Listed (Active)

SDMLS #PI20237088

—
Jan 19, 2021

Pending - Continue to Show

SDMLS #PI20237088

—
Nov 11, 2020

Listed (Active)

SDMLS #PI20237088

$2,350,000—
Nov 11, 2020

Listed (Active)

CRMLS #PI20237088

$2,350,000—
Nov 10, 2020

Listed (Active)

CLAW #PI20237088MR

$2,350,000—
Feb 1, 2013

Permanently Off Market

NSBCMLS #179918

$775,000—
Feb 1, 2013

Sold

CRMLS #PR179918

$820,495—
Feb 1, 2013

Sold

CLAW #PR179918MR

$820,495—
Dec 5, 2012

Sold (Public Record)

Public Record #347454621

$775,000

-3.3% / yr

Nov 21, 2012

Pending

CLAW #PR179918MR

—
Nov 21, 2012

Pending

CRMLS #PR179918

—
Sep 5, 2011

Listed (Active)

CLAW #PR179918MR

$950,000—
Sep 5, 2011

Listed (Active)

CRMLS #PR179918

$950,000—
Sep 5, 2011

Listed (Active)

NSBCMLS #179918

$1,015,000—
Aug 21, 2002

Sold (Public Record)

Public Record #98377456

$1,095,000—
DateEvent & SourcePrice
06/15/2021

Price Change

CLAW #PI20237088MR

$2,350,000
06/15/2021

Sold

CRMLS #PI20237088

$2,175,000
06/15/2021

Sold

SDMLS #PI20237088

$2,175,000
06/15/2021

Sold

CLAW #PI20237088MR

$2,175,000
06/02/2021

Sold (Public Record)

Public Record #1463596699

$2,175,000

+12.9% / yr

04/15/2021

Pending

CLAW #PI20237088MR

—
04/15/2021

Pending

SDMLS #PI20237088

—
04/15/2021

Pending

CRMLS #PI20237088

—
02/10/2021

Listed (Active)

SDMLS #PI20237088

—
01/19/2021

Pending - Continue to Show

SDMLS #PI20237088

—
11/11/2020

Listed (Active)

SDMLS #PI20237088

$2,350,000
11/11/2020

Listed (Active)

CRMLS #PI20237088

$2,350,000
11/10/2020

Listed (Active)

CLAW #PI20237088MR

$2,350,000
02/01/2013

Permanently Off Market

NSBCMLS #179918

$775,000
02/01/2013

Sold

CRMLS #PR179918

$820,495
02/01/2013

Sold

CLAW #PR179918MR

$820,495
12/05/2012

Sold (Public Record)

Public Record #347454621

$775,000

-3.3% / yr

11/21/2012

Pending

CLAW #PR179918MR

—
11/21/2012

Pending

CRMLS #PR179918

—
09/05/2011

Listed (Active)

CLAW #PR179918MR

$950,000
09/05/2011

Listed (Active)

CRMLS #PR179918

$950,000
09/05/2011

Listed (Active)

NSBCMLS #179918

$1,015,000
08/21/2002

Sold (Public Record)

Public Record #98377456

$1,095,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 3425 Spring Street

Taxable ValueLand$416,736Additions$1,937,553Total$2,354,289
Tax Record2025$26,069 ($2,172 / month)
Home Facts
Total Finished SqFt9,006 SqFtAbove Grade Finished SqFt9,006 SqFtLot Size12,900 SqFtStyleMulti-Family Res (5+ Units)Year Built1978ZoningR4CountySAN LUIS OBISPOAPN008-031-015

Schools near 3425 Spring Street

This home is within Paso Robles Joint Unified School District.
Rating
School
Type
Grades
Distance
Georgia Brown Elementary School
Public - K to 5
George H. Flamson Middle School
Public - 6 to 8
Paso Robles High School
Public - 9 to 12
Paso Robles Independent Study Center
Public - K to 8
Rating
School
Distance
Georgia Brown Elementary School
PublicK to 5

George H. Flamson Middle School
Public6 to 8

Paso Robles High School
Public9 to 12

Paso Robles Independent Study Center
PublicK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Listing Courtesy of Hart Commercial Real Estate, Jason Hart, DRE #01334694

Based on information from one of the following Multiple Listing Services: Santa Barbara MLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Santa Barbara MLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.