3505 Spring St, Paso Robles, CA 93446
FOR SALE
0.39 ACRES
Listed by Abel Contreras, Invest SLO, (805) 709-7143

3505 Spring St
Paso Robles, CA 93446

  • 5 Beds
  • 12 Baths
  • 5,000 sqft (on 0.39 acres)

$1,900,000

Est. Mortgage $11,378/mo*
Get Pre-Qualified

$1,900,000

Est. Mortgage $11,378/mo*
Get Pre-Qualified
5 Beds
12 Baths
5,000 sqft
(on 0.39 acres)

Local Information

  • Map ViewExplore the area around 3505 Spring St.
  • Schools1 Elementary School1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

Description

(PORTFOLIO SALE) Combined portfolio 3411 Spring Street and 3505 Spring Street offered at $5,000,000. 3505 Spring Street is a unique 10-unit multifamily property in the heart of Paso Robles, offered at approximately $190,000/unit, $380/SF with a stabilized cap rate of 7.84% and annual rent upside of approximately $53,340. The property spans approximately 5,000 rentable square feet across two stories on a ±0.40-acre lot. The diverse unit mix includes five (5) studios with one bathroom, one (1) studio with two bathrooms, two (2) one-bedroom/one-bathroom units, one (1) one-bedroom/two-bathroom unit, and one (1) two-bedroom/two-bathroom unit — catering to a broad renter demographic. The property is zoned T-4NC and sits within a federally designated Opportunity Zone, providing meaningful tax advantages for qualifying investors. A RUBS program implemented in October 2025 per CA Civil Code §827 passes approximately 90% of gross utility costs back to tenants, materially improving net operating income. With current rents below market and one unit presently vacant, a new owner is positioned to immediately begin closing the income gap toward stabilized returns.

Investment Highlights:

*Federally Designated Opportunity Zone — Significant Tax Incentives for Qualifying Investors
*RUBS Program in Place Since October 2025 — Tenants Pay ~90% of Gross Utilities
*Attractive Entry Basis at ~$380/SF
*Attractive Entry Basis: $190,000/unit
*Stabilized Cap Rate of 7.84% at Market Rents
*Annual Rent Upside of ~$53,340 as Units Turn Over to Market

Home Highlights

Parking
20 Parking Spaces
Outdoor
No Info
A/C
Has Cooling
HOA
None
Price/Sqft
$380
Listed
64 days ago

Home Details for 3505 Spring St

Interior Features

Beds & Baths
Number of Bedrooms: 5Number of Bathrooms: 12
Appliances & Utilities
Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water ConnectedLaundry: Common Area
Heating & Cooling
Has CoolingAir Conditioning: Wall/Window Unit(s)
Fireplace & Spa
Spa: NoneNo Spa
Gas & Electric
Electric: Standard
Windows, Doors, Floors & Walls
Common Walls: 2+ Common Walls
Levels, Entrance, & Accessibility
Stories: 2Number of Stories: 2Levels: TwoEntry Location: Right Side of BuildingAccessibility: Parking

Exterior Features

Exterior Home Features
Roof: AsphaltOther Structures: Shed(s)No Private Pool
Parking & Garage
Open Parking Spaces: 20No GarageNo Attached GarageParking Spaces: 20Parking: Assigned,Asphalt,On Site,Paved,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

Cumulative Days on Market: 49Days on Market: 64

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 StructureNo Additional Parcels
Property Information
Parcel Number: 008031028

Price & Status

Price
List Price: $1,900,000Price Per Sqft: $380
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: PI26094991

Building

Building Area
Building Area: 5000 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: 0.39 acres

Listing Info

Special Conditions: Standard

Offer

Listing Terms: Cash, Cash to New Loan, Conventional, 1031 Exchange

Business

Expense
Tenant Pays: All Utilities, Cable TV, Electricity, Gas, Sewer, Trash Collection, Water

Rental Terms, Policies & Fees

No Rent Control

Miscellaneous

Mls Number: PI26094991Living Area Range Units: Square FeetAttribution Contact: 805-709-7143Common Interest: Community ApartmentUniversal Property Id: US-06079-N-008031028-R-N

Additional Information

CurbsGutter(s)Storm Drain(s)Street LightsSidewalksSource Internet Entire Listing Display
Last check for updates: about 11 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#PI26094991
Also Listed on CRMLS.

Market trends in Paso Robles

Last updated May 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
$766K
$11.25KMoM
Sale-to-List Price
99.4%
0.3%MoM
Price per sq ft
$446
$4MoM
Available listings
188
28MoM

Price History for 3505 Spring St

DatePriceEventSource
05/29/2026$1,900,000Listed For SaleCRMLS #PI26094991
05/19/2026$1,300ListingRemovedZillow Rentals
03/04/2026$1,300PriceChange
Zillow Rentals
08/27/2025$1,400Listed For RentZillow Rentals
08/14/2023$1,510,000Sold
CRMLS #PI23118595
07/18/2023$1,499,000PendingCRMLS #PI23118595
07/03/2023$1,499,000Listed For SaleCRMLS #PI23118595

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Comparable Sales for 3505 Spring St

Address
Distance
Property Type
Sold Price
Sold Date
Bed
Bath
Sqft
3532 Spring St, Paso Robles, CA
0.05
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$870,000
05/26/26
6
3
2,640
2221 Oak St, Paso Robles, CA
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2,632
2145 Park St, Paso Robles, CA
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$1,301,500
04/15/26
4
4
2,300
1319 Park St, Paso Robles, CA
0.42
Multi-Family Home
$1,408,500
06/03/26
-
3,256
107 Capitol Hill Dr, Paso Robles, CA
1.73
Multi-Family Home
$750,000
12/11/25
4
4
1,822
210 Myrtlewood Dr, Paso Robles, CA
3.73
Multi-Family Home
$1,150,000
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8
8
3,600
41 Thomas Ct, Templeton, CA
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Nearby homes

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Assigned Schools

These are the assigned schools for 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
    Flag
  • 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
    Flag
  • 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
    Flag
  • 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
    Flag
  • 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
    Flag
  • 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
    Flag
  • 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
3505 Spring St, Paso Robles, CA 93446 is a 5 bedroom, 12 bathroom, 5,000 sqft multi-family built in 1968. This property is currently available for sale and was listed by CRMLS on May 29, 2026. The MLS # for this home is MLS# PI26094991.