BRAND NEW INFORMATION REGARDING LEASES! Incredible opportunity to own a well-maintained 4-unit apartment building in the Downtown Paso Robles Market on R3 Zoning & located in the Paso Robles OPPORTUNITY ZONE, 3 new/upcoming vacancies allow for a significant opportunity to IMMEDIATELY BRING RENTS TO MARKET, allowing a new buyer to gross $8,900/month upon acquisition. Coin-operated laundry produces over $200 monthly, new stucco, new roof, and new dual pane windows. A value-add business plan would bring current gross income to $9,800/month, stabilizing well ABOVE AN 8% CAP RATE. Current market rents in this part of DT Paso Robles are $2,400 for 2-bedroom (updated) units. Paired with the location, the property offers higher-end cabinets, appliances, and tile flooring, making these rental units highly desirable to any future tenants. *Opportunity Zones will be allowed to defer or eliminate federal taxes on capital gains earned from the sale of stock, business assets, or property. The Paso Robles Opportunity Zone includes all land within the City boundary that is west of the Salinas River and north of 1st Street. https://www.pasorobleschamber.com/economic-development/paso-robles-opportunity-zones/
Sold for $1,055,000 on 02/23/23
Listing Provided by:
Aurmon Banitaba DRE #02040003 805-709-7143,
Keller Williams Realty Central Coast
Bought with: Keller Williams Realty Central Coast
$1,055,000
1021 19th St, Paso Robles, CA 93446
8beds
4baths
3,360sqft
Multi Family
Built in 1986
-- sqft lot
$1,205,100 Zestimate®
$314/sqft
$2,240 Estimated rent
Home value
$1,205,100
$1.11M - $1.30M
$2,240/mo
Zestimate® history
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What's special
Zillow last checked: 8 hours ago
Listing updated: February 23, 2023 at 12:53pm
Listing Provided by:
Aurmon Banitaba DRE #02040003 805-709-7143,
Keller Williams Realty Central Coast
Bought with:
Hal Sweasey, DRE #01111911
Keller Williams Realty Central Coast
Graeme Baldwin, DRE #01955843
Keller Williams Realty Central Coast
Source: CRMLS,MLS#: PI22226738
Originating MLS: California Regional MLS
Originating MLS: California Regional MLSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 4
Heating
- Forced Air
Cooling
- Central Air
Appliances
- Laundry: Common Area
Features
- Flooring: Carpet, Laminate, See Remarks, Tile
- Windows: Double Pane Windows, ENERGY STAR Qualified Windows
- Has fireplace: No
- Fireplace features: None
- Common walls with other units/homes: 1 Common Wall
Interior area
- Total structure area: 3,360
- Total interior livable area: 3,360 sqft
Property
Parking
- Total spaces: 10
- Parking features: Assigned, Asphalt, Driveway, On Site, Paved, Private, One Space, On Street, Uncovered
- Uncovered spaces: 10
Accessibility
- Accessibility features: Parking
Features
- Levels: Two
- Stories: 2
- Pool features: None
- Fencing: Wood
- Has view: Yes
- View description: None
Lot
- Size: 7,013 sqft
- Features: Landscaped, Level, Rectangular Lot, Street Level, Value In Land
Details
- Parcel number: 008245016
- Zoning: R3
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
- Attached to another structure: Yes
Materials
- Stucco
- Foundation: Slab
- Roof: Composition,Shingle
Condition
- Repairs Cosmetic,Turnkey
- New construction: No
- Year built: 1986
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Cable Available, Electricity Connected, Natural Gas Connected, Water Connected
Community & neighborhood
Security
- Security features: Carbon Monoxide Detector(s), Smoke Detector(s)
Community
- Community features: Curbs, Sidewalks
Location
- Region: Paso Robles
- Subdivision: Pr City Limits West(120)
HOA & financial
Other financial information
- Total actual rent: 68700
Other
Other facts
- Listing terms: Cash,Cash to New Loan,Conventional,1031 Exchange,FHA
- Road surface type: Paved
Price history
| Date | Event | Price |
|---|---|---|
| 2/23/2023 | Sold | $1,055,000+5.6%$314/sqft |
Source:  CRMLS #PI22226738 | ||
| 1/25/2023 | Pending sale | $999,000$297/sqft |
Source: CRMLS #PI22226738 | ||
| 10/24/2022 | Listed for sale | $999,000+206.9%$297/sqft |
Source: CRMLS #PI22226738 | ||
| 7/16/2016 | Listing removed | $1,250+8.7% |
Source: RPM Central Coast - Property # 105583 | ||
| 7/9/2015 | Listing removed | $1,150 |
Source: RPM Central Coast - Property # 105583 | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $12,154 +1.6% | $1,097,622 +2% |
| 2024 | $11,964 +168% | $1,076,100 +168.9% |
| 2023 | $4,464 +1.5% | $400,203 +2% |
Find assessor info on the county website
Neighborhood: 93446
Nearby schools
GreatSchools rating
- 5/10Bauer/Speck Elementary SchoolGrades: K-5Distance: 0.4 mi
- 6/10George H. Flamson Middle SchoolGrades: 6-8Distance: 0.5 mi
- 6/10Paso Robles High SchoolGrades: 9-12Distance: 1.5 mi
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$1,205,100
2% more+ $24,102
With Zillow Showcase(estimated)
$1,229,202