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Tera Rench

terarenchre@gmail.com +1(262) 370-7299

$945,000

Est. payment - /mo

7,000 Sqft Lot

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Key Details

Property Type Multi-Family

Sub Type Triplex

Listing Status Active

Purchase Type For Sale

Subdivision Pr City Limits West(120)

MLS Listing ID NS26193449

HOA Y/N No

Year Built 1910

Lot Size 7,000 Sqft

Property Sub-Type Triplex

Property Description

A rare downtown Paso Robles investment and redevelopment opportunity just two blocks from Downtown City Park. Located within a federally designated Opportunity Zone, this approximately 7,000 sq. ft. TC-2 zoned property offers a unique combination of rental income, central downtown location, and previously approved plans for future redevelopment.
The existing improvements include three residential rental units with a mix of one- and two-bedroom configurations, generating approximately $70,680 in annual gross rental income. That income provides value during a buyer's planning and holding period while evaluating the next phase of the property.
Previously approved plans envision a new four-unit residential project consisting of two +/- 1,500 sq. ft. 3-bedroom, 2.5-bath residences and two +/- 1,250 sq. ft. 2-bedroom, 2.5-bath residences, together with a subterranean four-car garage designed to accommodate up to eight vehicles with tandem parking. The redevelopment concept takes advantage of the site's downtown setting and dual frontage along Pine and Railroad Streets.
Beyond the income and redevelopment potential, the location is a major part of the opportunity. Paso Robles' Downtown City Park, Michelin-starred restaurants, tasting rooms, shopping, and other amenities are all nearby, making this a site with both immediate utility and long-term growth potential.
For an investor or developer looking for a downtown Paso Robles property with income in place, Opportunity Zone positioning, and an established redevelopment concept, 1434/1436 Pine Street offers a combination that is increasingly difficult to find.

Location

State CA

County San Luis Obispo

Area Pric - Pr Inside City Limit

Interior

Heating Combination, Wall Furnace

Cooling Wall/Window Unit(s)

Fireplaces Type None

Fireplace No

Laundry See Remarks

Exterior

Garage Spaces 2.0

Garage Description 2.0

Pool None

Community Features Street Lights, Sidewalks

Roof Type Composition

Total Parking Spaces 2

Private Pool No

Building

Lot Description Sloped Down

Faces West

Story 1

Entry Level One

Foundation Pillar/Post/Pier, See Remarks

Sewer Public Sewer

Water Public

Architectural Style Bungalow

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 008326002

Acceptable Financing Cash, 1031 Exchange, Submit

Listing Terms Cash, 1031 Exchange, Submit

Special Listing Condition Standard

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Listed by Robert Sousa COMPASS 805.460.3000, DRE #01774193

NEARBY SCHOOL & BUSINESS

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1434 1436 Pine ST Paso Robles, CA 93446