List Price: $1.38M

Listing Status: ActiveUnderContract

Days on Market: 64

4 Bedrooms · 3 Bathrooms · 2,141 sq ft

Property Type: Residential

Year Built: 1923

Lot Size: 6,970 sq ft

Private Pool: Yes

MLS Number: NS26067227

About This Property

A rare Westside Paso Robles offering, this exceptional income property delivers both luxury living and unmatched investment security—featuring TWO transferable short term rental permits, an increasingly scarce asset in a city where new non hosted permits have a substantial 20+ waiting list. Situated within the coveted T3 F / Opportunity Zone, the property also benefits from zoning that may allow up to two additional ADUs, creating a long term expansion opportunity seldom found this close to downtown. Just a few walkable blocks from the Downtown Square and Paso Market Walk, 1636/1638 Spring Street is a beautifully re-imagined duplex operating as three fully independent units, each with its own private entrance. A comprehensive 2021 renovation elevated the property to modern standards while preserving its West Side charm—offering immediate income, regulatory stability, and future development potential in one of Paso Robles’ most desirable areas. The front 1 bed / 1 bath (493 sf) unit is an established and successful short term rental with a strong operating history. The rear unit(s) features a flexible two level configuration: the lower 2 bed / 1 bath (951 sf) unit is fully self contained with an open concept living area, updated kitchen and dining area, while the upper 1 bed / 1 bath (697 sf) suite—with its own full living, kitchen, bedroom and private entrance—offers ideal space for additional rental income, owner occupancy, or elevated guest accommodations. A dual locking interior door allows the two rear units to function independently or together, depending on the owner’s needs. Outdoor amenities include gated parking, privacy fencing, covered patios, drought tolerant landscaping, a charming gazebo, two 7×7 storage sheds, and a spacious rear parking area. A storage basement houses a washer/dryer adding further convenience. Interior upgrades include mini split HVAC systems, updated kitchens, luxury plank flooring, dual pane windows, carpeted bedrooms, and a dedicated HVAC system for the lower rear unit. Perfect for investors, 1031 exchange buyers, or owner users seeking income, flexibility, and long term upside, this is a legacy Paso Robles asset—a rare combination of luxury, location, and income potential, protected by the scarcity of transferable STR permits.