UPDATED:
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
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
Nearby School & Business
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