$945,000

A rare downtown Paso Robles investment and redevelopment opportunity just two blocks from Downtown City Park. Located within a federally designated Opportunity Zone, this approximately 7,000 sq. ft. TC-2 zoned property offers a unique combination of rental income, central downtown location, and previously approved plans for future redevelopment. The existing improvements include three residential rental units with a mix of one- and two-bedroom configurations, generating approximately $70,680 in annual gross rental income. That income provides value during a buyer’s planning and holding period while evaluating the next phase of the property. Previously approved plans envision a new four-unit residential project consisting of two +/- 1,500 sq. ft. 3-bedroom, 2.5-bath residences and two +/- 1,250 sq. ft. 2-bedroom, 2.5-bath residences, together with a subterranean four-car garage designed to accommodate up to eight vehicles with tandem parking. The redevelopment concept takes advantage of the site’s downtown setting and dual frontage along Pine and Railroad Streets. Beyond the income and redevelopment potential, the location is a major part of the opportunity. Paso Robles’ Downtown City Park, Michelin-starred restaurants, tasting rooms, shopping, and other amenities are all nearb