Downtown Triplex with Redevelopment
New
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 Market5
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
Source:
Homeandranchsir
Added: Sep 4
Changed: Sep 6
Last Checked: Sep 7 at 9:42AM
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
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$45,082
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.77%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,711
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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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
