Downtown Triplex with Redevelopment
For Sale
$945,000
1434 1436 Pine Street, Paso Robles, CA 93446
TC-2 zoning, three existing rental units, and an Opportunity Zone designation support multiple planning considerations.
Property Size2,156 SF
Lot Size0.16 Acres
Days on Market53
Property Features for 1434 1436 Pine Street
General Information
Standard status
Active
Size
2,156 SF
Lot size
0.16 Acres
Property subtype
Triplex
Zoning
TC-2
Financials
Gross Income
$70,680
Opportunity Zone
Yes
Additional Details
Multifamily Units
3
Building Details
Building Size
2,156 SF
Year Built
1910
Listing Agency:
COMPASS
Listed By:
Robert Sousa · License #01774193
(805) 460-3000
Source:
Homeandranchsir
Added: Sep 4
Changed: Oct 26
Last Checked: Oct 24 at 10:06PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of COMPASS
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Investment Insights
Based on property information with market context.
This 1910-built triplex occupies an approximately 7,000-square-foot TC-2-zoned property with three residential rental units in one- and two-bedroom configurations. The existing improvements provide rental income while a buyer evaluates the property's next phase. Previously approved redevelopment plans call for four residences: two approximately 1,500-square-foot three-bedroom, 2.5-bath homes and two approximately 1,250-square-foot two-bedroom, 2.5-bath homes. The concept also includes a subterranean four-car garage planned to accommodate up to eight vehicles with tandem parking.
The property is located two blocks from Downtown City Park in Paso Robles and carries a federal Opportunity Zone designation. It has dual frontage along Pine and Railroad Streets, with restaurants, tasting rooms, shopping, and other downtown amenities nearby. The property address is 1434 1436 Pine Street, Paso Robles, CA 93446.
The property is located two blocks from Downtown City Park in Paso Robles and carries a federal Opportunity Zone designation. It has dual frontage along Pine and Railroad Streets, with restaurants, tasting rooms, shopping, and other downtown amenities nearby. The property address is 1434 1436 Pine Street, Paso Robles, CA 93446.
Key Highlights
- Approximately 7,000 sq. ft. TC‑2‑zoned property
- Existing triplex with three residential rental units
- Federal Opportunity Zone designation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,082
Cap Rate
4.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$901,640
$901.6K
Cap Rate 7%
$644,029
$644.0K
Cap Rate 9%
$500,911
$500.9K
Market Conditions
NOI Build-Up for 2,156 SF
Gross rent
$66.0K $30.60/SF
− Vacancy
−$1.6K −$0.73/SF
EGI
$64.4K $29.87/SF
− OpEx
−$19.3K −$8.96/SF
NOI
$45.1K $20.91/SF
Area
San Luis Obispo County, CA
Vacancy
2.38%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$901,640
Cap Rate 7%
$644,029
Cap Rate 9%
$500,911
Alternative Uses
Best Use
Multifamily LT 5
$644.0K
$563.5K – $751.4K
NOI $45,082 @ 7.0% cap · market cap 4.77%
Second Best
Apartment 5plus
$594.6K
$520.3K – $693.7K
NOI $41,622 @ 7.0% cap · market cap 4.40%
Theoretical Best
Healthcare Medical
$847.9K
$741.9K – $989.3K
NOI $59,355 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,711
Businesses Nearby
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Business Placement
Demographics for 93446, CA
45,979
Population
19,786
Households
2.3
Avg Household Size
41
Median Age
30%
College-Educated
91%
High-School Grad
428.3 sq mi
ZIP Area
107
Density / Sq Mi
$94,512
Median Household Income
$43,229
Median Earnings
$1,946
Median Rent
$661,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - TC-2 zoning, three existing rental units, and an Opportunity Zone designation support multiple planning considerations.
Where is this triplex located?
The property is located at 1434 1436 Pine Street Paso Robles, CA.
What is the asking price?
The asking price for this property is $945,000.
What are key features of this property?
This property features: Approximately 7,000 sq. ft. TC‑2‑zoned property; Existing triplex with three residential rental units; Federal Opportunity Zone designation
