240 Spring Street

    Paso Robles, CA 93446
    • $8,900,000
    • STATUS: Active Under Contract
    • ON SITE: 34 days
    • ID#: SP20039444
    Under Contract
    UPDATED: 49 min ago
    $8,900,000
    • 0
      BEDS
    • 2.81
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 44,273
      SQFT
    • $201
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1953
    County:

    School Ratings & Info

    Description

    Attention Investors! This is a rare opportunity to own a large apartment complex in the city of Paso Robles. Located on the "Gateway" to Paso Robles, this Spring Street corner property includes 6 buildings with 54 apartments. The apartments consist of; (8) one bedroom, one bath, approx. 650 sqft, (42) two bedroom, one bath, approx. 900 sqft and (4) three bedroom, one bath, approx. 1,100 sqft. Including (32) covered parking spaces and additional on-site parking. Coin-operated laundry rooms for additional income. A small office space for management. The complex sits on approximately 2.81 acres and graced by majestic Oak trees. Located in the "Opportunity Zone" and zoned as TC-2 "Town Center Commercial Zoning District". Check with the City of Paso Robles about the possibility to add additional units. The apartments are just a few short blocks away from the downtown core.Paso Robles is known for its world class restaurants, wineries, local Mid State Fair, Vina Robles Amphitheater, and the Equestrian event venue "Paso Robles Horse Park". Paso Robles has made a big name for itself! It is a great place to work, live and vacation! This is a fabulous opportunity to invest in an amazing location and provide much needed homes in a tight and competitive housing market. Information deemed reliable but not verified.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-04-03T21:29:23.21. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.

    www.teamforss.com/homes/103704370

    240 Spring Street Paso Robles, CA 93446

    • Price: $8,900,000
    • Status: Active Under Contract
    • Updated: 49 min ago
    • ID#: SP20039444
    0
    Beds
    0
    Baths
    0
    ½ Baths
    2.81
    Acres
    44,273
    SQFT
    $201
    $/SQFT
    1953
    Built
    Neighborhood:
    Pr City Limits West(120)
    County:
    San Luis Obispo
    Area:
    Pric - Pr Inside City Limit
    Property Description
    Attention Investors! This is a rare opportunity to own a large apartment complex in the city of Paso Robles. Located on the "Gateway" to Paso Robles, this Spring Street corner property includes 6 buildings with 54 apartments. The apartments consist of; (8) one bedroom, one bath, approx. 650 sqft, (42) two bedroom, one bath, approx. 900 sqft and (4) three bedroom, one bath, approx. 1,100 sqft. Including (32) covered parking spaces and additional on-site parking. Coin-operated laundry rooms for additional income. A small office space for management. The complex sits on approximately 2.81 acres and graced by majestic Oak trees. Located in the "Opportunity Zone" and zoned as TC-2 "Town Center Commercial Zoning District". Check with the City of Paso Robles about the possibility to add additional units. The apartments are just a few short blocks away from the downtown core.Paso Robles is known for its world class restaurants, wineries, local Mid State Fair, Vina Robles Amphitheater, and the Equestrian event venue "Paso Robles Horse Park". Paso Robles has made a big name for itself! It is a great place to work, live and vacation! This is a fabulous opportunity to invest in an amazing location and provide much needed homes in a tight and competitive housing market. Information deemed reliable but not verified.
    Exterior Features

    Carport Spaces 32.00 Construction Materials Stucco Entry Location Bottom And Top Floors Foundation Details Raised Garage Spaces 0.00 Lot Features Corner LotLevel With StreetLot Over 40000 Sqft Lot Size Source Assessor Lot Size Units Square Feet Parking Features Detached CarportOn SiteParking Space Parking Total 54.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Appliances Free-Standing RangeRefrigerator Appliances YN Yes Average Studio Area Units Square Feet Average1 Bed Area 650 Average1 Bed Area Units Square Feet Average2 Bed Area 900 Average2 Bed Area Units Square Feet Average3 Bed Area 1100 Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling None Cooling YN No Fireplace Features None Fireplace YN No Flooring CarpetLaminateWood Heating Wall Furnace Heating YN Yes Laundry Features Common Area Levels Two

    Property Features

    Additional Parcels YN No Association YN No Building Area Units Square Feet Cable Tv Expense 0.00 Cap Rate 7.12 Community Features CurbsGutters Country Us Electric Electricity - On Property Electric Expense 600.00 Elevation Units Feet Fuel Expense 18000.00 Gross Income 0.00 Gross Scheduled Income 0.00 Insurance Expense 0.00 Land Lease YN No Laundry Equipment Own Lease Lease Laundry Income 12000.00 Laundry YN Yes Net Operating Income 0.00 New Construction YN No New Taxes Expense 97900.00 Number Of Separate Electric Meters 55 Number Of Separate Gas Meters 58 Number Of Separate Water Meters 4 Number Of Units Leased 0 Number Wall AC 0 Number With Dishwasher 0 Number With Disposal 0 Number With Range 54 Number With Refrigerator 48 Operating Expense 0.00 Professional Management Expense 0.00 Property Sub Type Apartment Rent Control YN No Security Features Carbon Monoxide Detector(S)Security LightsSmoke Detector(S) Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other Pr City Limits West(120) Tenant Pays Cable TvElectricityGas Total Actual Rent 0.00 Total Expenses 0.00 Trash Expense 23400.00 Utilities Electricity ConnectedSewer ConnectedWater Connected Vacancy Allowance Rate 5.00 Water Sewer Expense 110400.00 Water Source Public Year Built Source Assessor Zoning Tc2

    Listing provided courtesy of Kim Wurster of Bhgre Haven Properties and Kurtis Wurster of Bhgre Haven Properties


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-04-03T21:29:23.21. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.

     
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