12-Unit Townhouse Apartment
New
For Sale
$4,900,000
639 Park El Paso de Robles, Paso Robles, CA 93446
Four residential buildings offer private fenced patios, individual HVAC and water heaters, and shared coin-operated laundry.
Property Size10,320 SF
Days on Market6
Property Features for 639 Park El Paso de Robles
General Information
Standard status
Active
Size
10,320 SF
Total Parking Spaces
24
Property subtype
Investment
Zoning
TC-2
Additional Details
Opportunity Zone
Yes
Public Transit
Yes
Multifamily Units
12
Amenities
on-site laundry
maintenance/storage room
Building Details
Building Size
10,320 SF
Year Built
1984
Buildings
4
Stories
2
Units
12
Listing Agency:
Country Real Estate
Listed By:
Gwen Erskine · License #01230514
(805) 239-9566
Source:
Elliman
Added: Oct 9
Changed: Oct 10
Last Checked: Oct 12 at 9:16PM
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 Country Real Estate
Investment Insights
Based on property information with market context.
The property comprises four separate buildings with three townhouse units apiece, for 12 units total. Each townhouse has a living room, kitchen, half bath, and under-stair storage on the main level, with two bedrooms and a full bathroom upstairs. Private fenced rear yards include concrete patios. Units have forced-air heating and air conditioning, and individual water heaters. Shared amenities include coin-operated laundry with three washers and three dryers, a locked maintenance and storage room, and off-street parking for 24 vehicles. Two units have wood-burning fireplaces.
The property is one block from the city transit station, which offers bus and train service, and within walking distance of downtown shops, restaurants, City Park, and the city library. The site is zoned TC-2 for commercial town center use, described as supporting mixed-use and high-density development. Additional vacant land is identified as a potential area for ADUs or further expansion.
Built in 1984, the property has had roof, HVAC, fencing, window, kitchen-countertop, and bathroom-countertop replacements within the past ten years. Other interior updates include vinyl plank flooring, paint, blinds, stoves, and refrigerators.
The property is one block from the city transit station, which offers bus and train service, and within walking distance of downtown shops, restaurants, City Park, and the city library. The site is zoned TC-2 for commercial town center use, described as supporting mixed-use and high-density development. Additional vacant land is identified as a potential area for ADUs or further expansion.
Built in 1984, the property has had roof, HVAC, fencing, window, kitchen-countertop, and bathroom-countertop replacements within the past ten years. Other interior updates include vinyl plank flooring, paint, blinds, stoves, and refrigerators.
Key Highlights
- 12 townhouse units across four separate buildings
- Each unit has two bedrooms, one full bathroom, a half bath, and a private fenced rear yard with concrete patio
- Off‑street parking for 24 vehicles
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$199,228
Cap Rate
4.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,984,560
$4.0M
Cap Rate 7%
$2,846,114
$2.8M
Cap Rate 9%
$2,213,644
$2.2M
Market Conditions
NOI Build-Up for 10,320 SF
Gross rent
$371.5K $36.00/SF
− Vacancy
−$9.3K −$0.90/SF
EGI
$362.2K $35.10/SF
− OpEx
−$163.0K −$15.80/SF
NOI
$199.2K $19.31/SF
Area
San Luis Obispo County, CA
Vacancy
2.50%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,984,560
Cap Rate 7%
$2,846,114
Cap Rate 9%
$2,213,644
Alternative Uses
Best Use
Apartment 5plus
$2.85M
$2.49M – $3.32M
NOI $199,228 @ 7.0% cap · market cap 4.07%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$4.06M
$3.55M – $4.74M
NOI $284,109 @ 7.0% cap · market cap 5.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
1,867
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?
Apartment building - Four residential buildings offer private fenced patios, individual HVAC and water heaters, and shared coin-operated laundry.
Where is this apartment building located?
The property is located at 639 Park El Paso de Robles Paso Robles, CA.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: 12 townhouse units across four separate buildings; Each unit has two bedrooms, one full bathroom, a half bath, and a private fenced rear yard with concrete patio; Off‑street parking for 24 vehicles
