Property Description 528 Oak Street, Paso Robles, CA 93446
Wonderful westside Paso Robles multi-family investment opportunity! Located just a few blocks South of the vibrant Paso Robles downtown district, this offering includes a tastefully remodeled (and completely adorable!) 2 bedroom, 1 bath 1940's home, a modest studio unit, and a sizable and newer block-construction building with two additional residential units. All together, there are 4 units on this street-to-alley T3-N (multi-family) lot - all within short walking distance to restaurants, banking, shopping and recreation. There is also an elaborate (owned) solar power system, providing additional monthly revenue to the property owner. Please note that the photos of the front house were taken approx. 2 years ago, prior to the current tenant moving in (that tenant will be moving out at the end of October). The income numbers reflect the outgoing tenant's current rental rate ($1800/mo), but this unit will be delivered vacant and freshened up at close. About the home, it had a very elaborate remodel completed within the last 3 years, including all new kitchen and bath appointments, floor and wall coverings (hand-troweled drywall for a contemporary touch), windows, doors and hardware, plumbing, HVAC, etc. At approx. 850SF, it is cozy, but absolutely cute as a button! It also has a walk-in basement - ideal for tenant storage or to develop an ultimate wine cellar! Whether you choose to live in it as a second home in Paso wine country, or rent it again, it will treat you well. Behind the home is a vintage (70ish year old) 500SF Studio unit, currently rented to a long-term tenant at $800/month. It includes a 3/4 bath, fun tongue & groove pine ceiling and wall details, and a recently installed Mini-split HVAC. And then there is the duplex structure accessed off the alley - believed to have been built sometime around the 70's, which includes two LARGE 1-bedroom units (at least 1,000SF each), with BIG attached garages. One of the tenants has been here for 18 years now, while the other has been here just a year and a half ($1,389 and $1,400/mo respectively). All tenants gel cohesively, which is nice with a multi-family property. Together with the solar power income, this property generates approx. $5,700/month based on current rents. Further property improvements could easily push this above $6,000/mo. Property qualifies for vacation rental use (license would be needed). Showings start on Saturday, Oct 30th. Don't miss your chance!