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528 Oak StreetPaso Robles, CA 93446Price: $935,000

  • Price: $935,000
  • Est. Mortgage of $/month
  • 37 Days on Market
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Federal 30-year interest rate: 3.11% last updated on Dec 2, 2021
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • $935,000List Price
  • 0.16Acreage
Wonderful westside Paso Robles multi-family investment opportunity! Located just blocks from the vibrant Paso Robles downtown district, this offering includes a tastefully remodeled (and completely adorable!) 2BR/1BA 1940's home, a modest studio unit, and a sizable and newer block-construction building with 2 additional residential units. All together, there are 4 units on this street-to-alley T3-N (multi-family) lot - all within short walking distance to restaurants, banking, shopping and recreation. There is also an elaborate (owned) solar power system, providing additional monthly revenue to the property owner. Please note that the photos of the front house were taken approx. 2 years ago, prior to the current tenant moving in. The income numbers reflect the outgoing tenant's current rental rate ($1800/mo), but this unit will be delivered vacant and freshened up at close. About the home, it had a very elaborate remodel completed within the last 3 years, including all new kitchen & bath appointments, floor & wall coverings (hand-troweled drywall for a contemporary touch), windows, doors & hardware, plumbing, HVAC, etc. At approx. 800SF, it is cozy, but absolutely cute as a button! It also has a walk-in basement - ideal for tenant storage or to develop an ultimate wine cellar! Whether you choose to live in it as a second home in Paso wine country, or rent it again, it will treat you well. Behind the home is a vintage (70ish year old) 350SF Studio unit, currently rented to a long-term tenant at $800/month. It includes a 3/4 bath, fun tongue & groove pine ceiling and wall details, and a recently installed Mini-split HVAC. And then there is the duplex, accessed off the alley. This 36' x 50' duplex structure was built in 1989 and includes two LARGE 1-bdrm units (est. 900SF each) with BIG (16' tall) attached garages. One tenant has been here for 18 years while the other has been here just about a year and a half ($1,389 and $1,400/mo respectively). All tenants gel cohesively, which is nice with a multi-family property. Together with the solar power income, this property generates approx. $5,700/mo based on current rents. Further property improvements could easily push this above $6,000/mo. This is also located in 1 of just 3 'Qualified Opportunity Zones' in SLO County (tax benefits)! Zoning qualifies for vacation rental use (property changes & license would be needed). Offer submission deadline is 5pm on Wed, Nov 3rd!
Listed by Scott Ehrke of RE/MAX Success

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 "Based on information submitted to CA_CRMLS as of December 5, 2021 8:53 AM EST . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing."

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