Two-Unit Duplex
For Sale
$849,000
245 17th, Paso Robles, CA 93446
Paso Robles, CA
Property Size1,500 SF
Lot Size0.20 Acres
Price / SF$566
Days on Market50
Property Features for 245 17th
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R1
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 2, Bedroom 1, Laundry Room, Bedroom 2, Kitchen, Bathroom 1, Bathroom 3
Parking features
Off Street, Driveway
Patio and Porch features
Porch
Appliances
Refrigerator, Gas Range, Gas Oven
Subdivision
PR City Limits West(120)
Lot features
Corner Lot
Elementary school district
Paso Robles Joint Unified
Middle school district
Paso Robles Joint Unified
High school district
Paso Robles Joint Unified
Directions
Spring Street to 17th, Property is on the corner of 17th and Chestnut
Standard status
Active
APN
008274011
Size
1,500 SF
Lot size
0.20 Acres
Utilities
Utilities
Phone Available
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1920
Floors in Building
1
Number of units
2
Listing Agency:
Farrell Smyth Real Estate
Listed By:
Jennifer Hamilton · License #01800791
(805) 543-2172
Added: Jul 24
Changed: Sep 8
Last Checked: Sep 11 at 3:06AM
MLS# SC26161731
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,500-square-foot duplex contains two residences: one with 1 bedroom and 1 bath, and another with 2 bedrooms and 2 baths. Built in 1920, the property includes central air, kitchens equipped with refrigerators, gas ranges, and gas ovens, plus laundry and porch areas. Driveway and off-street parking are provided.
The 0.1971-acre property is located at 245 17th in Paso Robles, California, near downtown, shopping, dining, schools, parks, and local wineries. Public water and public sewer serve the property, with phone service available. Zoning is R1.
The 0.1971-acre property is located at 245 17th in Paso Robles, California, near downtown, shopping, dining, schools, parks, and local wineries. Public water and public sewer serve the property, with phone service available. Zoning is R1.
Key Highlights
- Two residences with 1‑bedroom, 1‑bath and 2‑bedroom, 2‑bath layouts
- 1,500 Square Feet of building area on a 0.1971‑acre lot
- Built in 1920 with central air conditioning
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
$31,365
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
3.69%
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%
$627,300
$627.3K
Cap Rate 7%
$448,071
$448.1K
Cap Rate 9%
$348,500
$348.5K
Market Conditions
NOI Build-Up for 1,500 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
$45.9K $30.60/SF
− Vacancy
−$1.1K −$0.73/SF
EGI
$44.8K $29.87/SF
− OpEx
−$13.4K −$8.96/SF
NOI
$31.4K $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%
$627,300
Cap Rate 7%
$448,071
Cap Rate 9%
$348,500
Alternative Uses
Best Use
Multifamily LT 5
$448.1K
$392.1K – $522.8K
NOI $31,365 @ 7.0% cap · market cap 3.69%
Second Best
Apartment 5plus
$413.7K
$362.0K – $482.6K
NOI $28,958 @ 7.0% cap · market cap 3.41%
Theoretical Best
Healthcare Medical
$589.9K
$516.2K – $688.3K
NOI $41,295 @ 7.0% cap · market cap 4.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,549
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - R1-zoned duplex with separate one- and two-bedroom residences, central air, and off-street parking.
Where is this duplex located?
The property is located at 245 17th Paso Robles, CA.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Two residences with 1‑bedroom, 1‑bath and 2‑bedroom, 2‑bath layouts; 1,500 Square Feet of building area on a 0.1971‑acre lot; Built in 1920 with central air conditioning
