
Paso Robles, California 93446
This Turnkey Income Property is a High-Potential Investment Opportunity, listed at $1,250,000—positioned above the $1,190,588 Fair Market Value. While priced at a premium, the property features a Condition Rating of 2, reflecting a comprehensive high-end remodel of the 1920s Craftsman and ADU. With two transferable vacation rental licenses and professional-grade kitchen finishes, this asset offers immediate, flexible revenue streams. It is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a sophisticated, income-generating downtown Paso Robles residence.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 503 Oak Subject 3 bd · 3 ba · 1,942 sqft · $613 | $1,250,000* List Price | 3 | 3 | 1,942 | $613 | - |
A 1444 Oak Street Sold 4 bd · 4 ba · 1,870 sqft · $610 · 0.7 mi | $1,140,000 | 4 | 4 | 1,870 | $610 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
While originally built in 1920, the property has undergone a comprehensive high-end remodel within the last 5 years. The kitchen features professional-grade appliances, butcher block counters, and subway tile, while the bathrooms have been fully updated with modern fixtures and tile work. The interior shows mint-condition hardwood floors and updated systems, making it move-in ready with no immediate maintenance required.
The property features two transferable vacation rental licenses and a separate ADU, providing a rare, turnkey opportunity for immediate short-term rental income from both units.
This 1920s Craftsman has been thoughtfully remodeled with high-end finishes, including Blue Point professional appliances and butcher block counters, blending period character with modern functionality.
Situated on a prime downtown corner lot, the property offers a detached two-car garage, a storage shed with studio potential, and a large basement suitable for a wine cellar or future expansion.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1942, other record living area = 1142. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 2.
The $1.25M asking price reflects a significant jump from its $975,000 sale price in early 2024, which may challenge appraisal values or buyer ROI expectations in the current market.
Despite extensive remodeling, the 1920s construction may still present underlying maintenance requirements typical of older homes, such as aging foundation or utility elements.
Updated and Remodeled Downtown Income Pair with Two Transferable Vacation Rental Licenses. On a corner lot in the heart of historic Paso Robles sits a rare pairing: two updated homes, two transferable vacation rental licenses, and the freedom to run them together for group stays or apart for two income streams. The 6,970 square foot lot offers ample parking, low maintenance landscaping, a detached two car garage, and a storage shed with the bones to become an office or studio. The primary residence is a 1920s Craftsman, two bedrooms and two baths, remodeled to bring period charm up to today's standards. A landscaped walkway leads to a covered country porch, and hardwood floors carry through a warm living room, into the dining room, and out to a sun filled sunroom. The kitchen anchors the home: Blue Point professional appliances, stainless accents, butcher block counters, and a white subway tile backsplash, with laundry and direct backyard access close by. Both bedrooms are generously sized, the baths are finished with care, and a large basement leaves room for a wine cellar or future expansion. The second home, a one bedroom, one bath ADU, has its own private entrance and a quiet fenced backyard, a bright retreat suited to short term guests or visiting family. Two addresses, one lot, and licensing already in place. This is a chance to own a downtown Paso Robles income property that's been done right, with the flexibility to shape it around exactly how you want to use it.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 3.0 | 2.2 |
| Square foot | 1,942 | 1,827.602 |
| Lot Size | 6,970 | 8,814.944 |
| Price | $1.25M | $812.6K |
| Price per sq ft | $644 | $445 |
| Built year | 1920 | 1990 |
| HOA | $0 | $186 |
| Days on market | 38 | 66 |
Sep 16, 2026
$1,250,000
Initial Listing
Jan 16, 2024
$975,000
Public Record
Apr 11, 2019
$657,500
Public Record
Dec 1, 2017
$450,000
Public Record