
San Miguel, California 93451
Analysis of 1470 Mission Street, San Miguel, California 93451 is currently available with a list price of $895,000. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. Located in a high-demand neighborhood within the San Miguel Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is move-in ready.
Built in 2008, the property is approximately 18 years old, placing it squarely in the 'Good' category. It is well-maintained and move-in ready, featuring significant recent upgrades including brand new HVAC systems installed in 2026. While the kitchen cabinetry and flooring appear original to the build, they remain functional and in good condition.
This mixed-use property offers immediate cash flow with over $5,000 monthly income and significant flexibility for owner-users or 1031 exchange investors due to current month-to-month lease agreements.
Built in 2008 and featuring brand-new HVAC systems installed in 2026, the building offers lower maintenance risks and higher safety standards, including full fire sprinklers, compared to older regional inventory.
Situated on the main corridor of the Paso Robles Wine Region with a new 180-unit development approved nearby, the property is well-positioned to benefit from increasing local density and appreciation.
With a 5,510 sqft building situated on a 3,500 sqft lot, the property has a high floor-area ratio, resulting in minimal private outdoor space and a reliance on alley-access parking.
Located in San Miguel rather than the primary Paso Robles hub, the commercial component's long-term success is heavily dependent on the continued revitalization and foot traffic of a smaller satellite township.
INVESTORS, TAKE NOTE! Here's a great opportunity to purchase a newer three unit, mixed-use building in the desirable Paso Robles Wine Region. Located on the main corridor in downtown San Miguel (9 miles North of Paso Robles), this outstanding income property is just a short walk North of the historic Mission San Miguel. Built just 20 years ago, this newer mixed-use building includes over 2,700 SF of ground-level commercial/retail space, together with two (2!) spacious, well-designed 2 bedroom, 2 bath residential apartments upstairs. Imagine the possibilities here. This is an ideal property for a 1031 exchange - currently 100% rented, generating over $5,000/month in income with long-term tenants (of 7 to 13 years). However, because each tenant is now on month-to-month agreements in anticipation of the sale, the building is also well suited for an owner-user who could have their business operations downstairs, occupy one of the two upstairs apartments, and rent out the other one for additional monthly income. The downstairs commercial space has high ceilings (10 - 12') and could potentially be split into two separate commercial units. Upstairs, you'll quickly realize these are not your average, run-of-the-mill apartments. Inside each unit you'll find open floorplans, 9 ft volume ceilings, recessed can lighting, spacious laundry rooms and lots of storage. You'll also find outdoor balconies on the front and back side of each unit (one off the living area and another off the primary bedroom of each unit). There is plenty of street parking, as well as a parking area in the back accessed via an alley easement. The entire building is fire sprinklered, and all three units have brand new HVAC systems (installed in 2026). The replacement cost of a building of this caliber is nearly 2X the asking price! Growth in San Miguel has been steady, and a new 180-unit development has been approved less than a mile away from this property. Could this be your next investment opportunity?!
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| Built year | 2008 | - | 0% |
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May 7, 2026
$895,000
Initial Listing
Dec 22, 2020
$211,500
Public Record
Nov 30, 2012
$400,000
Public Record
Sep 12, 2003
$330,000
Public Record
Sep 12, 2003
$240,000
Public Record