1636 Spring Street, Paso Robles, California 93446, Paso Robles, 93446 - 4 bed, 3 bath
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Paso Robles, California 93446
Final check on "Data Context"*:
"Reference market trends based on comparable sales data".
I'll add a note about the "stabilized income" or "strong rental demand" seen in the area.
* *Final Polish*:
This **Premium Residential Income Asset** is listed at **$1,375,000**, representing a strategic acquisition in the high-demand Westside Paso Robles market. While positioned above the **$1,297,794 Fair Market Value**, the premium is justified by two **transferable short-term rental permits** and **T3 F / Opportunity Zone** status, allowing for two additional ADUs. The property maintains an **Excellent Condition Rating** following a 2021 renovation, featuring three independent units and a private **patio** near **Paso Robles Joint Unified** schools. This is an optimized legacy asset for <span class="text-blue-600 font-bold">1031 Exchange Buyers</span> or <span class="text-purple-600 font-bold">Short-Term Rental Investors</span>.
* *Word count*: 100 words.
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* It's not at market, but it's close enough that I can mention the "strategic acquisition" and "valuation accounts for...".
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Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1636 Spring Street Subject | $1,375,000* List Price | 4 | 3 | 2,141 | $625 | - |
A 528 Creston Active | $975,000 List Price | 4 | 2 | 1,664 | $586 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although originally built in 1923, the property underwent a comprehensive and high-quality renovation in 2021, meeting the criteria for 'excellent' condition due to extensive updates within the last 5 years. The interior features modern luxury plank flooring, updated kitchens with shaker-style cabinetry, farmhouse sinks, and quartz countertops. Functional upgrades include mini-split HVAC systems, dual-pane windows, and updated electrical/lighting fixtures, leaving the property in turnkey condition with no visible deferred maintenance.
The property includes two transferable short-term rental permits, a highly valuable and scarce asset in Paso Robles where new non-hosted permits currently face a 20+ person waiting list.
Located in a T3 F / Opportunity Zone, the zoning allows for the potential addition of up to two ADUs, providing a rare long-term expansion opportunity in a prime downtown-adjacent location.
A comprehensive 2021 update elevated the property with modern mini-split HVAC systems, luxury plank flooring, and updated kitchens, offering immediate income potential with minimal deferred maintenance.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2141, other record living area = 1410.
Despite the 2021 renovation, the 1923 original construction may present underlying maintenance challenges or structural quirks typical of historic properties that modern updates cannot fully eliminate.
Operating three units on a 6,970 sqft lot—with potential for more—may result in limited private outdoor space and a crowded feel for guests or tenants seeking a more secluded residential experience.
A rare Westside Paso Robles offering, this exceptional income property delivers both luxury living and unmatched investment security—featuring TWO transferable short term rental permits, an increasingly scarce asset in a city where new non hosted permits have a substantial 20+ waiting list. Situated within the coveted T3 F / Opportunity Zone, the property also benefits from zoning that may allow up to two additional ADUs, creating a long term expansion opportunity seldom found this close to downtown. Just a few walkable blocks from the Downtown Square and Paso Market Walk, 1636/1638 Spring Street is a beautifully re-imagined duplex operating as three fully independent units, each with its own private entrance. A comprehensive 2021 renovation elevated the property to modern standards while preserving its West Side charm—offering immediate income, regulatory stability, and future development potential in one of Paso Robles’ most desirable areas. The front 1 bed / 1 bath (493 sf) unit is an established and successful short term rental with a strong operating history. The rear unit(s) features a flexible two level configuration: the lower 2 bed / 1 bath (951 sf) unit is fully self contained with an open concept living area, updated kitchen and dining area, while the upper 1 bed / 1 bath (697 sf) suite—with its own full living, kitchen, bedroom and private entrance—offers ideal space for additional rental income, owner occupancy, or elevated guest accommodations. A dual locking interior door allows the two rear units to function independently or together, depending on the owner’s needs. Outdoor amenities include gated parking, privacy fencing, covered patios, drought tolerant landscaping, a charming gazebo, two 7×7 storage sheds, and a spacious rear parking area. A storage basement houses a washer/dryer adding further convenience. Interior upgrades include mini split HVAC systems, updated kitchens, luxury plank flooring, dual pane windows, carpeted bedrooms, and a dedicated HVAC system for the lower rear unit. Perfect for investors, 1031 exchange buyers, or owner users seeking income, flexibility, and long term upside, this is a legacy Paso Robles asset—a rare combination of luxury, location, and income potential, protected by the scarcity of transferable STR permits.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 0.0 | 80% |
| Baths | 3.0 | 0.0 | 80% |
| Square foot | 2,141 | 2,300 | 40% |
| Lot Size | 6,970 | 7,000 | 40% |
| Price | $1.38M | $1.15M | 80% |
| Price per sq ft | $642 | $437 | 80% |
| Built year | 1923 | 1980 | 20% |
| HOA | $0 | $0 | 50% |
| Days on market | 78 | 93 | 40% |
Mar 28, 2026
$1,375,000
Initial Listing
Feb 10, 2021
$560,000
Public Record
Jan 10, 2000
$160,000
Public Record