Sold
Last Sold Price
2 beds20 baths9,006 sqft$242/sqft
3425 Spring St, Paso Robles, CA 93446
Multi FamilyProperty Type
0.30 acresLot Size
1978Year Built
$242/sq ftPrice per sq ft

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
  • Listed by: Jason Hart DRE #01334694 Brokerage DRE #01334694 • Hart Commercial Real Estate
Listing closed: 06/15/2021 12:00 AM • Source: CRMLS, MLS#: PI20237088

Location

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

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

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Payment Calculator

$13,227 per month

30 year fixed, 6.55% Interest

Principal and Interest

$11,055

Property Taxes

$2,172

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 3425 Spring Street

Property Details
  • MLS Type: Residential Income
  • 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
  • Common Walls: 2+ Common Walls
  • New Construction: No
  • Average Studio Area Units: Square Feet
  • Average 1 Bed Area Units: Square Feet
  • Average 2 Bed Area Units: Square Feet
  • Average 3 Bed Area Units: Square Feet
  • Building Area Total: 9006
  • Building Area Units: Square Feet
  • Pool: No
  • Association: No
  • Association Fee: $.00
  • Zoning: R4
  • Subdivision Name: PR City Limits West(120)
  • Subdivision Name Other: PR City Limits West(120)
  • Senior Community: No
  • Parcel Number: 008031015
  • Area: PR Inside City Limit (PRIC)
  • Directions: Hwy 101 to Spring St
Building Information
  • Stories: 2
  • Year Built: 1978
  • Lot Size: 0.30 AC / 12,900 SF
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
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

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

Public Records for 3425 Spring Street

Taxable ValueLand$425,070Additions$1,976,304Total$2,401,374
Tax Record2025$26,069 ($2,172 / month)
Home Facts
Baths10Total Finished SqFt9,006 SqFtAbove Grade Finished SqFt9,006 SqFtStories2Lot Size12,900 SqFtStyleMulti-Family Res (5+ Units)Year Built1978Year Renovated1978ZoningR4CountySAN LUIS OBISPOAPN008-031-015

Schools near 3425 Spring Street

This home is within Paso Robles Joint Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 7 to 8
Public - 9 to 12
Public - K to 8
Rating
School
Distance
Georgia Brown Elementary School
PublicK to 6

George H. Flamson Middle School
Public7 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 and North Santa Barbara County Regional 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 and North Santa Barbara County Regional 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.