3411 & 3505 Spring St, Paso Robles, CA 93446
FOR SALE
NEW - 6 HRS AGO
0.77 ACRES
Listed by Abel Contreras, Invest SLO, (805) 709-7143

3411 & 3505 Spring St
Paso Robles, CA 93446

  • Studio
  • 16,808 sqft (on 0.77 acres)

$5,000,000

Est. Mortgage $29,402/mo*
Get Pre-Qualified

$5,000,000

Est. Mortgage $29,402/mo*
Get Pre-Qualified
Studio
16,808 sqft
(on 0.77 acres)

Local Information

Map showing home location
© Google
-- mins to
Commute Destination

Description

The Spring Street Portfolio is a rare opportunity to acquire two adjacent multifamily properties totaling 24 units in the heart of Paso Robles, offered at $5,000,000 — approximately $263/SF for 3411 Spring Street and $380/SF for 3505 Spring Street — with a combined stabilized cap rate of 7.17% and annual rent upside of approximately $155,400 across both properties. The portfolio consists of 3411 Spring Street, a 14-unit two-story walk-up built in 1970 spanning approximately 11,748 rentable square feet, and 3505 Spring Street, a 10-unit two-story property originally constructed as a motel and thoughtfully converted to residential use, spanning approximately 5,000 rentable square feet. Together, the properties sit on adjacent lots totaling over ±0.79 acres along the Spring Street corridor, zoned PR/R4 and T-4NC respectively. Both properties are managed by MPM Inc., offering a seamless transition for new ownership. 3505 Spring Street sits within a federally designated Opportunity Zone, providing meaningful tax advantages for qualifying investors, and operates under a RUBS program implemented in October 2025 through which tenants pay approximately 90% of gross utility costs. With current rents averaging well below market across both properties — several tenants at 3411 having been in place since as early as 2008 — a new owner is positioned to systematically close the rent gap through annual AB 1482 increases and natural turnover. 3411 Spring Street was independently appraised at $3,550,000 in January 2026, underscoring the portfolio's strong in-place value. This is an exceptional opportunity to acquire operational scale on a single street in one of California's most supply-constrained multifamily markets.

Investment Highlights:

24 Total Units Across 2 Adjacent Properties on Spring Street, Paso Robles

Portfolio Asking Price: $5,000,000 — ~$263/SF (3411) and ~$380/SF (3505)

Combined Stabilized Cap Rate of 7.17% at Market Rents

Annual Rent Upside of ~$155,400 Across Both Properties

3505 Spring Street Located in a Federally Designated Opportunity Zone

RUBS Program in Place at 3505 — Tenants Pay ~90% of Gross Utilities

Both Properties Managed by MPM Inc. — Seamless Operational Transition

3411 Spring Street Independently Appraised at $3,550,000 (January 2026)

Zero New Multifamily Supply in the North SLO Submarket — Structural Rent Floor

Buyers Making an Offer on the Entire Portfolio Will Be Given Preference

Home Highlights

Parking
Garage
Outdoor
No Info
A/C
Heating & Cooling
HOA
None
Price/Sqft
$297
Listed
1 day ago

Home Details for 3411 & 3505 Spring St

Interior Features

Appliances & Utilities
Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water ConnectedLaundry: Common Area
Heating & Cooling
Heating: Wall FurnaceHas CoolingAir Conditioning: Wall/Window Unit(s)Has HeatingHeating Fuel: Wall Furnace
Fireplace & Spa
Fireplace: NoneSpa: NoneNo FireplaceNo Spa
Gas & Electric
Electric: Standard
Windows, Doors, Floors & Walls
Common Walls: 2+ Common Walls
Levels, Entrance, & Accessibility
Stories: 2Number of Stories: 2Levels: TwoEntry Location: FrontAccessibility: Parking

Exterior Features

Exterior Home Features
Roof: AsphaltFencing: WoodOther Structures: Shed(s)No Private Pool
Parking & Garage
Number of Garage Spaces: 14Number of Covered Spaces: 14Open Parking Spaces: 20Has a GarageNo Attached GarageParking Spaces: 34Parking: Assigned,Asphalt,Covered,On Site,Paved,One Space,Uncovered
Pool
Pool: None
Frontage
Road Frontage: City StreetRoad Surface Type: PavedNot on Waterfront
Water & Sewer
Sewer: Public Sewer
Surface & Elevation
Elevation Units: Feet

Days on Market

Days on Market: 1

Property Information

Year Built
Year Built: 1968
Property Type / Style
Property Type: Residential IncomeProperty Subtype: Multi FamilyArchitecture: Traditional
Building
Not a New ConstructionAttached To Another StructureHas Additional Parcels
Property Information
Parcel Number: 008031009Additional Parcels Description: 008031028

Price & Status

Price
List Price: $5,000,000Price Per Sqft: $297
Status Change & Dates
Possession Timing: Close Of Escrow, Negotiable

Active Status

MLS Status: Active

Location

Direction & Address
City: Paso Robles

Agent Information

Listing Agent
Listing ID: PI26117034

Building

Building Area
Building Area: 16808 Square Feet

Community

Community Features: Curbs, Gutter(s), Storm Drain(s), Street Lights, SidewalksNot Senior Community

HOA

Association for this Listing: California Regional MLSHOA Fee: No HOA Fee

Lot Information

Lot Area: 0.77 acres

Listing Info

Special Conditions: Standard

Offer

Listing Terms: Cash, Conventional, FHA, VA Loan

Business

Expense
Tenant Pays: Cable TV, Electricity, Gas, See Remarks, Sewer, Trash Collection, Water

Rental Terms, Policies & Fees

No Rent Control

Miscellaneous

Mls Number: PI26117034Living Area Range Units: Square FeetAttribution Contact: 805-709-7143Common Interest: Community ApartmentUniversal Property Id: US-06079-N-008031009-R-N

Additional Information

CurbsGutter(s)Storm Drain(s)Street LightsSidewalksSource Internet Entire Listing Display
Last check for updates: about 7 hours ago
Listing Provided by: Abel Contreras DRE #02062620, (805) 709-7143
Invest SLO
Chelsea King DRE #02152275, (805) 540-9333
Invest SLO
Originating MLS: California Regional MLS
Source: CRMLS, MLS#PI26117034
Also Listed on CRMLS.

Price History for 3411 & 3505 Spring St

DatePriceEventSource
06/03/2026$5,000,000Listed For SaleCRMLS #PI26117034

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Comparable Sales for 3411 & 3505 Spring St

Address
Distance
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Sold Price
Sold Date
Bed
Bath
Sqft
3532 Spring St, Paso Robles, CA
0.10
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$870,000
05/26/26
6
3
2,640
2221 Oak St, Paso Robles, CA
0.86
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2145 Park St, Paso Robles, CA
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$1,301,500
04/15/26
4
4
2,300
1940 Pine St #A, Paso Robles, CA
1.05
Multi-Family Home
$805,000
06/06/25
8
-
1,814
107 Capitol Hill Dr, Paso Robles, CA
1.67
Multi-Family Home
$750,000
12/11/25
4
4
1,822
210 Myrtlewood Dr, Paso Robles, CA
3.67
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$1,150,000
09/26/25
8
8
3,600
41 Thomas Ct, Templeton, CA
6.64
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$1,135,000
10/22/25
5
6
3,040
80 Brewer St #84, Templeton, CA
6.71
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$954,900
06/13/25
5
4
2,992

Nearby homes

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Assigned Schools

These are the assigned schools for 3411 & 3505 Spring St.
View nearby schools on GreatSchools
The GreatSchools Rating compares schools on a variety of school quality indicators including test scores, college readiness, equity and more. Learn more.

What Locals Say about Paso Robles

At least 187 Trulia users voted on each feature.

  • 88 % Say it's dog friendly

  • 88 % Say car is needed

  • 87 % Say yards are well-kept

  • 79 % Say there's holiday spirit

  • 76 % Say it's quiet

  • 75 % Say parking is easy

  • 72 % Say people would walk alone at night

  • 66 % Say there's wildlife

  • 64 % Say there are sidewalks

  • 63 % Say kids play outside

  • 60 % Say neighbors are friendly

  • 59 % Say they plan to stay for at least 5 years

  • 53 % Say streets are well-lit

  • 49 % Say it's walkable to grocery stores

  • 45 % Say it's walkable to restaurants

  • 41 % Say there are community events

Sourced by Trulia users. Learn more about our methodology.
  • Spencer Todd Brown
    "Lots of places to walk your dog. Paso has a wonderful park and so many places to walk with your puppy. "
    0
    Flag
  • Trulia User
    "All parades through out the year Fourth of July Christmas lights and car shows and fair carnival and concerts "
    0
    Flag
  • My2sons1941
    "Nice place to raise a family. Great helping neighbors always available to assist. Lots of room to grow "
    0
    Flag
  • Abigail A.
    "School district needs some work, but has some great elementary and middle schools. Paso high is amazing, amazing science department. "
    2
    Flag
  • Tara P.
    "Great place to live! No more school buses, so you have to provide your own child’s transportation. This town is really a community that comes together & supports their own! "
    1
    Flag
  • Robert H.
    "Safe neighborhood, convenient location to shopping. Great walking trails. Friendly,thoughtful caring people."
    2
    Flag
  • Shandareneesmith
    "This is my hometown. It is wine country. Cute. Lots of nature. Everyone knows your name type of town. "
    0
    Flag
  • Srhsnowflake
    "My neighborhood is safe, neighbors are friendly. I have lived here only one year and couldn't be happier with Paso Robles as a community. We enjoy all the activities that the city offers, and have appreciated the overall friendly atmosphere. We found a church that offers a great support. "
    0
    Flag
  • Mollysdow
    "Summer Concerts in the Park; Holiday parade and Vine Street showcase; Halloween downtown; California Midstate Fair"
    0
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  • Alison G.
    "Living off a dirt road has it's Challenges but I wouldn't trade it for the world. Beats the concrete jungle I came from in Orange County."
    0
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  • Sherri M.
    "People walk their dogs here all the time and they take them to wineries and Lowe’s. There are walking paths and dog parks. "
    0
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  • Ivy_dls
    "My family lives here. It is really a great place! I feel at home here and the locals are very friendly."
    0
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  • Dan P.
    "As a new full-time resident the schools have been outstanding so far at Pifer and Lewis. Single high school in town is a plus. Growth is imminent however. "
    0
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  • Amber S.
    "I've lived here for a year now. generally the people are friendly and speak when you see them out on a walk. people take pride in their yard and surrounding so that makes the neighborhood attractive. the neighborhood is usually quiet in the evening and relatively safe."
    0
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  • Thb1985
    "Generally speaking, dogs are frowned upon and often disguised as cats in some neighborhoods on the east side of town where they enforce the rule."
    0
    Flag
  • Dena S.
    "We have ample transportation here in this neighborhood especially the local Paso express and the Arta bus!!"
    0
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  • aGregg
    "No dogs are allowed in the park except your dog. If it's your dog, it's fine. They should be kept on leash if necessary and always closely watched and cleaned up after them. Pro Tips: if your dog is not comfortable around children or other dogs,keep them on leash. The signs really say no dogs but it's not enforced and everyone clearly likes it that way."
    0
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  • Tracyskarma
    "Everybody is very friendly and they look out for each other.. Nice parks nearby and also a excellent Mexican food & margarita restaurant."
    17
    Flag
  • Kai M. .
    "It’s homey, peaceful some might say a perfect little place to raise a family. The weather is nice and warm, and it’s close to the beach. "
    2
    Flag
  • Lynn W.
    "Commuting to work around this small town is less than 10 minutes. Very low traffic issues. Streets are being repaired and improved. "
    0
    Flag
  • Maggie V.
    "Great town. I feel safe here. Low crime rate. Community police officers help with disputes. People are friendly. Great school District."
    0
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  • Trulia User
    "The schools have gotten better through the years but they still rate behind Templeton. The best elementary is Kermit King & Georgia Brown, Lewis for middle school. "
    0
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  • Drew A. L. C.
    "Nice, quiet community. We trust our neighbors and there is no crime. This is the cheapest place to live in Paso Robles, with an acre of land."
    0
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  • Khldoc
    "Close knit safe friendly place to live.Living on the cul-de-sac makes it seem like a tiny neighborhood. Very quiet."
    3
    Flag
  • Dennis B.
    "Villa Verde is quiet and beautiful. Construction of home is high end, with solid core doors, etc. People get along, and pride of ownership is apparent on all properties."
    3
    Flag
  • Ironpile
    "we are a tight knit community who sticks together. There are numerous wine events, and concerts in the park. "
    0
    Flag
  • Tarap
    "People walk their dogs all the time. Many clean up after their dogs, but not as much in neighborhoods with elderly people. Paso is a very dog friendly town."
    0
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  • Drew And Lisa Cook
    "Good sense of community. Dirt road gets messy in winter, but neigbors do a good job of scraping it. Dead end allows lots of privacy."
    3
    Flag
  • Grenz.john5
    "None I am retired. Moved here for Porterville a tear ago Love it in Heritage Ranch Mountains. Oaks. Wineries. Quiet "
    0
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  • Jeremy H.
    "Holiday lights, wineries, restaurants, olive oil, arts, entertainment, nearby beaches, etc. "
    0
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  • Shilohhamon
    "Lots of dogs walking with owners. Not many abrasive dogs. The park is not set up for dogs, better to go to the community dog park on the west side of town"
    1
    Flag
  • Keritheklassen
    "Not only can some neighborhoods out here be party communities during the summer, it is important to remember that there are mountain lions out here as well, and kids shouldn’t wander around at night. Pets should be brought inside in the evenings. "
    0
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  • Dennis B.
    "Great schools, parks and a safe community. Barney Schwartz Park has 4 soccer fields and 4 baseball fields: Ll under lights!"
    0
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LGBTQ Local Legal Protections

Abel Contreras, Invest SLO
Agent Phone: (805) 709-7143
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 2026-02-09 09:51:42 PST and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
3411 & 3505 Spring St, Paso Robles, CA 93446 is a studio, 16,808 sqft multi-family built in 1968. This property is currently available for sale and was listed by CRMLS on Jun 3, 2026. The MLS # for this home is MLS# PI26117034.