102-240 Spring Street

    Paso Robles, CA 93446
    • $11,595,000
    • STATUS: Active
    • ON SITE: 17 days
    • MLS #: 18-3526
    UPDATED: 49 min ago
    $11,595,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1953
    County:
    Area:

    School Information

    Elementary School:
    Middle School:
    High School:
    Listing provided courtesy of Berkshire Hathaway Home Services California Properties.

    Description

    The Grandview Apartments in Paso Robles offer an investor the rare opportunity to acquire and upgrade a sizable multi-family asset in a premiere California inland coastal location. The property is prominently situated on a 2.8-acre parcel at Paso Robles' ''Gateway'' corner, and enjoys a favorable ''Town Center'' commercial zoning designation. A new 140-room hotel is being constructed next door, and the area around the Grandview apartments is surrounded by newer commercial buildings and the recent refurbished Spring Street corridor leading to downtown Paso Robles a few blocks away. The location is also in a recently-designated ''Opportunity Zone'', part of the new Federal tax law, and providing a potential windfall capital gains exemption / elimination for the buyer, consult with CPA.

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    © 2018 Santa Barbara Multiple Listing Service. All rights reserved. Based on information from the Santa Barbara MLS as of 2018-10-15T20:47:01.183. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Data last updated 2018-10-15T20:47:01.183.
    www.theepsteinpartners.com/homes/87977929

    102-240 Spring Street Paso Robles, CA 93446

    • Price: $11,595,000
    • Status: Active
    • Updated: 49 min ago
    • MLS #: 18-3526
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1953
    Built
    Neighborhood:
    Out of Area
    County:
    San Luis Obispo
    Area:
    Out of Area
    Elementary School:
    Other
    Middle School:
    Other
    High School:
    Other
    Property Description
    The Grandview Apartments in Paso Robles offer an investor the rare opportunity to acquire and upgrade a sizable multi-family asset in a premiere California inland coastal location. The property is prominently situated on a 2.8-acre parcel at Paso Robles' ''Gateway'' corner, and enjoys a favorable ''Town Center'' commercial zoning designation. A new 140-room hotel is being constructed next door, and the area around the Grandview apartments is surrounded by newer commercial buildings and the recent refurbished Spring Street corridor leading to downtown Paso Robles a few blocks away. The location is also in a recently-designated ''Opportunity Zone'', part of the new Federal tax law, and providing a potential windfall capital gains exemption / elimination for the buyer, consult with CPA.
    Exterior Features

    Parking Information CarportMixedUncovered

    Interior Features

    Floor Window Coverings CarpetHardwoodWood/Laminate Heating Cooling Wall Laundry Room Unit1 Baths 1.00 Unit1 Bedrooms 1.00 Unit1 Half Baths 0.00 Unit2 Baths 1.00 Unit2 Bedrooms 2.00 Unit3 Baths 1.00 Unit3 Bedrooms 3.00

    Property Features

    Condition AverageFair Cross Street Niblick Deposit 3.00 Foundation Raised Income Expenses Annual Income 1032240.00 Income Expenses Capitalization Rate 5.13 Income Expenses Gross Rent Multiplier 11.12 Income Expenses NOI 594824 Income Expenses Total Annual Exp 437290.00 Income Expenses Total Monthly Income 86020.00 Meters Separate Meter Electric No Meters Separate Meter Gas No Owner Provides TrashWater Proximity Near BusNear Shopping Terms CashCtnl Unit1 Furnished No Unit1 Monthly Total 11640.00 Unit1 Rent 1455.00 Unit1 Units 8.00 Unit2 Monthly Total 66360.00 Unit2 Rent 1580.00 Unit2 Units 42.00 Unit3 Monthly Total 7020.00 Unit3 Rent 1755.00 Unit3 Units 4.00 Zoning Other

    Listing information © 2018 Santa Barbara MLS
    Listing provided courtesy of Berkshire Hathaway Home Services California Properties.



    © 2018 Santa Barbara Multiple Listing Service. All rights reserved. Based on information from the Santa Barbara MLS as of 2018-10-15T20:47:01.183. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Data last updated 2018-10-15T20:47:01.183.
     
    Keller Williams
    1435 Anacapa St.
    Santa Barbara CA, 93101
    Listing provided courtesy of Berkshire Hathaway Home Services California Properties.