$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 nearby, making this a site with both immediate utility and long-term growth potential. For an investor or developer looking for a downtown Paso Robles property with income in place, Opportunity Zone positioning, and an established redevelopment concept, 1434/1436 Pine Street offers a combination that is increasingly difficult to find.