1021 19th Street, Paso Robles, CA 93446
Property
Sold February 2023
Listing Agent: Aurmon Banitaba (DRE #02040003) · Listing Office: Keller Williams Realty Central Coast · Contact: aurmon@ccgrea.com · Bought with: Hal Sweasey · Keller Williams Realty Central Coast · MLS #PI22226738 · Source: CRMLS
About this property
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/
Listing description from the February 2023 sale, as reported to CRMLS.
Sale history