3505 Spring St

Beds
Baths
5,000 Sq. Ft.
$480 / Sq. Ft.
5,000
Sq. Ft.
$480
per Sq. Ft.

Description

Located within an Opportunity Zone in the desirable Paso Robles market, this recently remodeled 10-unit apartment building presents a compelling opportunity for investors seeking stable cash flow with long-term upside. The property offers a well-diversified unit mix designed to appeal to a broad tenant base. The upper-level features 6 studio units and 1 one-bedroom unit, each equipped with a full bathroom, while the lower level includes a larger two-bedroom/two-bath residence along with 3 additional...Located within an Opportunity Zone in the desirable Paso Robles market, this recently remodeled 10-unit apartment building presents a compelling opportunity for investors seeking stable cash flow with long-term upside. The property offers a well-diversified unit mix designed to appeal to a broad tenant base. The upper-level features 6 studio units and 1 one-bedroom unit, each equipped with a full bathroom, while the lower level includes a larger two-bedroom/two-bath residence along with 3 additional one-bedroom units, providing flexibility in rental options and income potential. Residents enjoy convenient on-site amenities including a paved parking lot offering 20+ parking spaces, a fenced patio area for the first level units that enhance outdoor usability and overall livability. The functional layout and practical features support strong tenant retention, making this a solid income-producing asset. Positioned in a growing Central Coast community with consistent rental demand, this Paso Robles property offers a rare combination of diversified unit configuration, everyday conveniences, and Opportunity Zone benefits—an attractive addition to any investment portfolio.
  1. Listed by Justin Tye • DRE #01728694 • Brokerage DRE #02022092 • Real Broker • JT@ActiveRealty.com
  2. Listed by Ileana Campos • DRE #02251240 • Brokerage DRE #02022092 • Real Brokerage Technologies, Inc.

Property Details for 3505 Spring Street

Cooling Type
Wall/Window Unit(s)
Total Units
10.0
Lot Size Source
Assessor
Building Area Total
5000
Building Area Units
Square Feet
Stories Total
2
Entry Level
1
Parcel Number
008031028
LISTING UPDATED: 01/29/2026 05:42 AM

Property Details for 3505 Spring Street

StatusActive
MLS #OC26020584
Days on Market4
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeCommercial Sale / Multi Family
Year Built1968
Lot Size0.39 AC / 16,948 SF
CountySan Luis Obispo County

Location

Listing Courtesy of Real Broker, Justin Tye, DRE #01728694; Real Brokerage Technologies, Inc., Ileana Campos, DRE #02251240
Add your commute

Building Information for 3505 Spring Street

Stories2Residences-Year Built1968Building Size-Lot Size0.39 AC / 16,948 SF

Payment Calculator

$13,113 per month

30 year fixed, 6.15% Interest

Principal and Interest

$11,692

Property Taxes

$1,421

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 3505 Spring Street

Income / Expense / Tax Details
Income Details
  • Gross Scheduled Income: $187,538
  • Net Operating Income: $142,351
  • Cap Rate: 5.0
Expense Details
  • Operating Expense: $45,187
  • Expense Year: $2,025
  • Electric Expense: $0
  • Trash Expense: $5,758
  • Water Sewer Expense: $2,400
Property / Structure Info
Interior Features
  • Laundry: No
  • Laundry Features: None
  • Cooling: Wall/Window Unit(s)
  • Heating Type: Central
  • Heating: Central
Exterior Features
  • Roof: Shingle
  • Fence: Yes
  • Fencing: Partial
Land/Lot Info
  • Lot Features: 0-1 Unit/Acre
  • Land Lease: No
  • Utilities: Cable Available, Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Phone Available, Sewer Available, Sewer Connected, Water Available, Water Connected
  • Water Source: Public
Property / Structure Info
  • Building Status: Existing
  • Asset Class: Multi-Family
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Actual Rent: $1,350
  • Unit Type Area: 581
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 5
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Actual Rent: $1,200
  • Unit Type Area: 365
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Actual Rent: $1,825
  • Unit Type Area: 1161
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 2
  • Unit Type Actual Rent: $1,500
  • Unit Type Area: 878
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Actual Rent: $1,500
  • Unit Type Area: 567
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 5
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Actual Rent: $1,200
  • Unit Type Area: 567
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 6

Property History for 3505 Spring Street

DateEvent & SourcePriceAppreciation
Jan 29, 2026

Listed (Active)

CRMLS #OC26020584

$2,399,000
Mar 1, 2025

Expired

CRMLS #OC24147835

Feb 28, 2025

Expired

CLAW #OC24147835MR

$2,000,000
Nov 25, 2024

Temporarily Off Market

CRMLS #OC24147835

Nov 25, 2024

Expired

SDMLS #OC24147835

$2,000,000
Nov 8, 2024

Price Change

CRMLS #OC24147835

$2,000,000
Oct 30, 2024

Price Change

CLAW #OC24147835MR

$2,050,000
Oct 30, 2024

Price Change

CRMLS #OC24147835

$2,050,000
Oct 2, 2024

Price Change

CLAW #OC24147835MR

$2,100,000
Oct 2, 2024

Price Change

CRMLS #OC24147835

$2,100,000
Sep 5, 2024

Price Change

CLAW #OC24147835MR

$2,250,000
Sep 5, 2024

Price Change

CRMLS #OC24147835

$2,250,000
Aug 15, 2024

Listed (Active)

SDMLS #OC24147835

$2,300,000
Aug 15, 2024

Temporarily Off Market

CLAW #OC24147835MR

Aug 15, 2024

Listed (Active)

CRMLS #OC24147835

$2,300,000
Aug 15, 2024

Listed (Active)

CLAW #OC24147835MR

$2,300,000
Jul 23, 2024

Permanently Off Market

CRMLS #OC24114363

$2,200,000
Jul 23, 2024

Permanently Off Market

SDMLS #OC24114363

Jul 23, 2024

Permanently Off Market

CLAW #OC24114363MR

Jun 5, 2024

Listed (Active)

SDMLS #OC24114363

$2,200,000
Jun 5, 2024

Listed (Active)

CLAW #OC24114363MR

$2,200,000
Jun 5, 2024

Listed (Active)

CRMLS #OC24114363

$2,200,000
Aug 14, 2023

Sold

SDMLS #PI23118595

$1,510,000
Aug 14, 2023

Sold

CRMLS #PI23118595

$1,510,000
Aug 14, 2023

Sold

CLAW #PI23118595MR

$1,510,000
Jul 18, 2023

Pending

CRMLS #PI23118595

Jul 18, 2023

Pending

CLAW #PI23118595MR

Jul 18, 2023

Pending

SDMLS #PI23118595

Jul 10, 2023

Sold (Public Record)

Public Record #1516500042

$1,510,000

+8.3% / yr

Jul 3, 2023

Listed (Active)

CRMLS #PI23118595

$1,499,000
Jul 3, 2023

Listed (Active)

CLAW #PI23118595MR

$1,499,000
Jul 3, 2023

Listed (Active)

SDMLS #PI23118595

$1,499,000
Jan 3, 2014

Sold

CRMLS #PR195790

$707,000
Jan 3, 2014

Sold

CLAW #PR195790MR

$707,000
Jan 3, 2014

Sold

NSBCMLS #195790

$707,000
Dec 16, 2013

Sold (Public Record)

Public Record #391848758

$707,000
Sep 12, 2013

Pending

NSBCMLS #195790

Sep 12, 2013

Pending

CLAW #PR195790MR

Sep 12, 2013

Pending

CRMLS #PR195790

Apr 19, 2013

Listed (Active)

CLAW #PR195790MR

$745,000
Apr 19, 2013

Listed (Active)

CRMLS #PR195790

$745,000
Apr 19, 2013

Listed (Active)

NSBCMLS #195790

$745,000
Nov 6, 2012

Expired

CRMLS #PI132995

$2,350,000
Nov 6, 2012

Expired

CRMLS #PI135159

$949,999
Feb 1, 2012

Expired

CRMLS #PR146408

$995,000
Feb 9, 2011

Expired

NSBCMLS #146408

$995,000
Feb 9, 2011

Expired

CLAW #PR146408MR

Aug 9, 2008

Listed (Active)

NSBCMLS #146408

$1,195,000
Aug 9, 2008

Listed (Active)

CRMLS #PR146408

$995,000
Aug 9, 2008

Listed (Active)

CLAW #PR146408MR

$995,000
Jul 15, 2008

Permanently Off Market

NSBCMLS #132995

$2,350,000
Jul 15, 2008

Expired

CLAW #PI132995MR

Jun 19, 2008

Permanently Off Market

NSBCMLS #135159

$949,999
Jun 19, 2008

Expired

CLAW #PI135159MR

Sep 13, 2007

Listed (Active)

CRMLS #PI135159

$949,999
Sep 13, 2007

Listed (Active)

CLAW #PI135159MR

$949,999
Sep 13, 2007

Listed (Active)

NSBCMLS #135159

$949,999
Jul 15, 2007

Listed (Active)

CRMLS #PI132995

$2,350,000
Jul 15, 2007

Listed (Active)

CLAW #PI132995MR

$2,350,000
Jul 15, 2007

Listed (Active)

NSBCMLS #132995

$2,350,000
DateEvent & SourcePrice
01/29/2026

Listed (Active)

CRMLS #OC26020584

$2,399,000
03/01/2025

Expired

CRMLS #OC24147835

02/28/2025

Expired

CLAW #OC24147835MR

$2,000,000
11/25/2024

Temporarily Off Market

CRMLS #OC24147835

11/25/2024

Expired

SDMLS #OC24147835

$2,000,000
11/08/2024

Price Change

CRMLS #OC24147835

$2,000,000
10/30/2024

Price Change

CLAW #OC24147835MR

$2,050,000
10/30/2024

Price Change

CRMLS #OC24147835

$2,050,000
10/02/2024

Price Change

CLAW #OC24147835MR

$2,100,000
10/02/2024

Price Change

CRMLS #OC24147835

$2,100,000
09/05/2024

Price Change

CLAW #OC24147835MR

$2,250,000
09/05/2024

Price Change

CRMLS #OC24147835

$2,250,000
08/15/2024

Listed (Active)

SDMLS #OC24147835

$2,300,000
08/15/2024

Temporarily Off Market

CLAW #OC24147835MR

08/15/2024

Listed (Active)

CRMLS #OC24147835

$2,300,000
08/15/2024

Listed (Active)

CLAW #OC24147835MR

$2,300,000
07/23/2024

Permanently Off Market

CRMLS #OC24114363

$2,200,000
07/23/2024

Permanently Off Market

SDMLS #OC24114363

07/23/2024

Permanently Off Market

CLAW #OC24114363MR

06/05/2024

Listed (Active)

SDMLS #OC24114363

$2,200,000
06/05/2024

Listed (Active)

CLAW #OC24114363MR

$2,200,000
06/05/2024

Listed (Active)

CRMLS #OC24114363

$2,200,000
08/14/2023

Sold

SDMLS #PI23118595

$1,510,000
08/14/2023

Sold

CRMLS #PI23118595

$1,510,000
08/14/2023

Sold

CLAW #PI23118595MR

$1,510,000
07/18/2023

Pending

CRMLS #PI23118595

07/18/2023

Pending

CLAW #PI23118595MR

07/18/2023

Pending

SDMLS #PI23118595

07/10/2023

Sold (Public Record)

Public Record #1516500042

$1,510,000

+8.3% / yr

07/03/2023

Listed (Active)

CRMLS #PI23118595

$1,499,000
07/03/2023

Listed (Active)

CLAW #PI23118595MR

$1,499,000
07/03/2023

Listed (Active)

SDMLS #PI23118595

$1,499,000
01/03/2014

Sold

CRMLS #PR195790

$707,000
01/03/2014

Sold

CLAW #PR195790MR

$707,000
01/03/2014

Sold

NSBCMLS #195790

$707,000
12/16/2013

Sold (Public Record)

Public Record #391848758

$707,000
09/12/2013

Pending

NSBCMLS #195790

09/12/2013

Pending

CLAW #PR195790MR

09/12/2013

Pending

CRMLS #PR195790

04/19/2013

Listed (Active)

CLAW #PR195790MR

$745,000
04/19/2013

Listed (Active)

CRMLS #PR195790

$745,000
04/19/2013

Listed (Active)

NSBCMLS #195790

$745,000
11/06/2012

Expired

CRMLS #PI132995

$2,350,000
11/06/2012

Expired

CRMLS #PI135159

$949,999
02/01/2012

Expired

CRMLS #PR146408

$995,000
02/09/2011

Expired

NSBCMLS #146408

$995,000
02/09/2011

Expired

CLAW #PR146408MR

08/09/2008

Listed (Active)

NSBCMLS #146408

$1,195,000
08/09/2008

Listed (Active)

CRMLS #PR146408

$995,000
08/09/2008

Listed (Active)

CLAW #PR146408MR

$995,000
07/15/2008

Permanently Off Market

NSBCMLS #132995

$2,350,000
07/15/2008

Expired

CLAW #PI132995MR

06/19/2008

Permanently Off Market

NSBCMLS #135159

$949,999
06/19/2008

Expired

CLAW #PI135159MR

09/13/2007

Listed (Active)

CRMLS #PI135159

$949,999
09/13/2007

Listed (Active)

CLAW #PI135159MR

$949,999
09/13/2007

Listed (Active)

NSBCMLS #135159

$949,999
07/15/2007

Listed (Active)

CRMLS #PI132995

$2,350,000
07/15/2007

Listed (Active)

CLAW #PI132995MR

$2,350,000
07/15/2007

Listed (Active)

NSBCMLS #132995

$2,350,000

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

Public Records for 3505 Spring Street

Taxable ValueLand$255,000Additions$1,285,200Total$1,540,200
Tax Record2025$17,055 ($1,421 / month)
Home Facts
Lot Size16,029 SqFtStyleMulti-Family Res (5+ Units)Year Built1968ZoningCRCountySAN LUIS OBISPOAPN008-031-028

Schools near 3505 Spring Street

This home is within Paso Robles Joint Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
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.

Similar Homes

Similar Sold Homes

3505 Spring Street is a multi-family home for sale in Paso Robles, CA 93446. This property was listed for sale on January 29, 2026 by Real Broker, it's currently listed at $2,399,000. It has been on the market for a total of 4 days and was last sold on August 14, 2023. This listing's school district is Paso Robles Joint Unified School District. Nearby schools include Georgia Brown Elementary School, George H. Flamson Middle School and Paso Robles High School. 3505 Spring Street is a 0-bed, 0-bath, 5,000 sqft multi-family home built in 1968.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Real Broker, Justin Tye, DRE #01728694; Real Brokerage Technologies, Inc., Ileana Campos, DRE #02251240

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.