Sold

1021 19th Street

Paso Robles CA, 93446

$999,000


$297.32 per sqft

Sold

3,360 sqft

Condo

Built in 1986

Listed by Aurmon Banitaba with Keller Williams Realty Central Coast 805-773-7777

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/

PI22226738

MLS ID

October 16, 2022

Listed

February 16, 2024

Updated

Map

1021 19th Street
Paso Robles CA, 93446

Interior Features

Total Stories

2


Laundry Description

Common Area


Floor Description

Carpet, Laminate, See Remarks, Tile


Fireplace

Yes


Fireplace Description

None


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Forced Air

Exterior/Building Features

Lot Size

0.16 Acres


Lot Features

Landscaped, Level, Rectangular Lot, Street Level, Value In Land


Roof

Composition, Shingle


Sewer

Public Sewer

Other Property Details

Area Name

PRIC - PR Inside City Limit


Days on Market

93


Garage

No


Parking

Assigned, Asphalt, Driveway, On Site, Paved, Private, One Space, On Street, Uncovered


Parking Total

10


View

No


View Description

None


County

San Luis Obispo


Water Source

Public


Pool

No


Pool Features

None


Zoning

R3


Buyer Agency Compensation

2%

Listing Contact: 805-773-7777 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 2/16/2024. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 2/16/2024 at 3:57 AM UTC

 

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