503 OakPaso Robles, CA 93446
PR City Limits West(120) · San Luis Obispo County
Description
Updated and Remodeled Downtown Income Pair with Two Transferable Vacation Rental Licenses. On a corner lot in the heart of historic Paso Robles sits a rare pairing: two updated homes, two transferable vacation rental licenses, and the freedom to run them together for group stays or apart for two income streams. The 6,970 square foot lot offers ample parking, low maintenance landscaping, a detached two car garage, and a storage shed with the bones to become an office or studio. The primary residence is a 1920s Craftsman, two bedrooms and two baths, remodeled to bring period charm up to today's standards. A landscaped walkway leads to a covered country porch, and hardwood floors carry through a warm living room, into the dining room, and out to a sun filled sunroom. The kitchen anchors the home: Blue Point professional appliances, stainless accents, butcher block counters, and a white subway tile backsplash, with laundry and direct backyard access close by. Both bedrooms are generously sized, the baths are finished with care, and a large basement leaves room for a wine cellar or future expansion. The second home, a one bedroom, one bath ADU, has its own private entrance and a quiet fenced backyard, a bright retreat suited to short term guests or visiting family. Two addresses, one lot, and licensing already in place. This is a chance to own a downtown Paso Robles income property that's been done right, with the flexibility to shape it around exactly how you want to use it.
Property Information
- Property type
- Residential
- Sub-type
- Single Family Residence
- Structure type
- House
- Year built
- 1920
- Stories
- 1
- Living area
- 1,942 Sq Ft
- Lot size
- 0.16 acres
- Garage spaces
- 2
- Parking spaces
- 2
- Days on market
- 2
- MLS® Listing#
- NS26203242
Property Features
- Appliances
- Dishwasher · Disposal
- Cooling
- Central Air · Electric
- Heating
- Forced Air
- Fireplace
- Family Room
- Pool
- None
- Laundry
- Laundry Room
- Lot features
- Corner Lot
- Foundation
- Slab
- Community
- Street Lights
- Sewer
- Public Sewer
- Water source
- Public
Financial Details
- HOA
- None
- Parcel number
- 009254012
Directions
From Spring Street; left on 5th
Listing Courtesy: Luxton Real Estate - 805-391-0241
Presented by: Karlie Montgomery
Licensed in the state of California.
Paso Robles Market Statistics
How this home compares to 194 active listings in Paso Robles, CA
| Paso Robles median | This listing | |
|---|---|---|
| Median listing price | $830,769 | $1,250,000 |
| Median days on market | 56 | 2 |
| Median Sq Ft | 1,934 | 1,942 |
| Median price / Sq Ft | $446 | $644 |
Market statistics compiled from active EXIT Realty® and MLS listings in Paso Robles, CA.
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Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
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| 725 Red Cloud Road, Paso Robles, CA | $1,150,000 | 5 | 5 | 3,426 |
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Based on information from the MLSListings MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Copyright 2026 MLSListings Inc. All rights reserved.
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Licensed in the state of California