
Paso Robles, California 93446
Premier downtown Paso Robles location a block from the post office and walking distance to City library, City Park, restaurants and shopping. Four seperate triplex buildings, each containing three townhouses featuring living room, kitchen, half bath, and an under stairwell storage closet downstairs. Upstairs you will find two spacious bedrooms and a full bathroom including a tub/shower. Use your back door to access your private fenced backyard that includes a concrete patio slab for your outdoor enjoyment. Each unit includes forced air conditioning and heating and it's own water heater. Onsite laundry mat with three coin operated washers and three coin operated dryers. Additional locked maintenance/storage room. Off street parking for 24 vehicles and street parking offer plenty of room for tenants and their visitors. One block to the City Transit station offering bus and train options. Easy walking distance to all of Paso Robles fabulous downtown shops and expanding restaurants. Additional vacant land area offers potential ADU locations or further expansion on this Town Center 2 Commercial zoned property (TC-2) designed for mixed use and high density development. IRS Tax Opportunity zone offers potential tax savings advantages also! Property is well maintained major replacements in the last ten years of roofs, rear yard fencing, HVAC units, kitchen and bathroom countertops, and dual pane windows. Regular interior upgrades are completed including blind replacement, vinyl plank flooring, painting, stove, and refrigerators. Two townhouses have wood burning fireplaces in the living rooms!
Property is move-in ready.
While built in 1984, the property has undergone significant renovations within the last 10 years, including new roofs, HVAC systems, dual-pane windows, and kitchen/bath countertops. Interior photos show modern vinyl plank flooring and updated appliances, meeting the criteria for a well-maintained, move-in ready investment.
Situated in the heart of downtown Paso Robles with TC-2 zoning and Opportunity Zone status, offering significant tax advantages and high-density mixed-use potential.
The property includes additional vacant land suitable for ADUs or further expansion, allowing investors to maximize density and increase rental yield on a large lot.
Major capital improvements including roofs, HVAC units, and dual-pane windows have been completed within the last decade, significantly reducing immediate CAPEX requirements.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =23987, other record lot size in square feet = 23000. Living area discrepancy between mls listing and other public or private record. mls listing living area = 10320, other record living area = 10368.
Managing 12 individual townhouses with separate utilities and onsite laundry facilities requires intensive property management and ongoing maintenance coordination.
At a $4.9M list price, the property represents a significant capital investment that may challenge cap rate expectations depending on current market rent rolls.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 3.0 |
| Baths | 0.0 | 2.0 |
| Square foot | 10,320 | 1,500 |
| Lot Size | 23,987 | 1,500 |
| Price | $4.90M | $494.0K |
| Price per sq ft | $475 | $329 |
| Built year | 1984 | 2004 |
| HOA | $0 | $360 |
| Days on market | 18 | 74 |
Oct 6, 2026
$4,900,000
Initial Listing
Sep 16, 2011
$1,100,000
Public Record
Oct 21, 2004
$1,865,000
Public Record