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Sold

1021 19th Street

Private Address

$1,055,000

BRAND NEW INFORMATION REGARDING LEASES! Incredible opportunity to own a well-maintained 4-unit apartment building in the Downtown Paso Robles Market on R3 Zoning & located in the Paso Robles OPPORTUNITY ZONE, 3 new/upcoming vacancies allow for a significant opportunity to IMMEDIATELY BRING RENTS TO MARKET, allowing a new buyer to gross $8,900/month upon acquisition. Coin-operated laundry produces over $200 monthly, new stucco, new roof, and new dual pane windows. A value-add business plan would bring current gross income to $9,800/month, stabilizing well ABOVE AN 8% CAP RATE. Current market rents in this part of DT Paso Robles are $2,400 for 2-bedroom (updated) units. Paired with the location, the property offers higher-end cabinets, appliances, and tile flooring, making these rental units highly desirable to any future tenants. *Opportunity Zones will be allowed to defer or eliminate federal taxes on capital gains earned from the sale of stock, business assets, or property. The Paso Robles Opportunity Zone includes all land within the City boundary that is west of the Salinas River and north of 1st Street. https://www.pasorobleschamber.com/economic-development/paso-robles-opportunity-zones/

7,013 Sq.Ft. lot

Aurmon Banitaba

Aurmon Banitaba

Features & Amenities

Interior

  • Laundry room Common Area
  • Flooring Carpet, Laminate, See Remarks, Tile
  • Fireplace None

Area & Lot

  • Status Sold
  • Lot Area7,013 Sq.Ft.
  • TypeMulti-Family
  • YEAR BUILT1986
  • View DescriptionNone

Exterior

  • STORIES2
  • water SourcePublic
  • utilitiesCable Available, Electricity Connected, Natural Gas Connected, Water Connected
  • PoolNone
  • roofComposition, Shingle
  • lot featuresLandscaped, Level, Rectangular Lot, Street Level, Value In Land
  • parkingAssigned, Asphalt, Driveway, On Site, Paved, Private, One Space, On Street, Uncovered
  • HEAT TYPEForced Air
  • AIR CONDITIONINGCentral Air
  • sewerPublic Sewer
  • SubstructureStucco
  • HOA AmenitiesCurbs, Sidewalks
  • security FeaturesCarbon Monoxide Detector(s), Smoke Detector(s)

Financial

  • Sales Price$1,055,000
  • Zoning R3

Contact Details

CCG Real Estate Advisors

Phone

(858) 533-1599

Email

[email protected]

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