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Fantastic Investment Opportunity in Prime Arroyo Grande Location! Portfolio Sale! Seize the chance to own four homes across three separate parcels in the heart of Arroyo Grande. The following properties are included: 414 E Grand Ave, APN: 006-175-006, which includes a 1 bd 1 ba home situated on the front portion of the 0.15 acre lot which can accommodate approx. 8 parking spaces. 418 E Grand Ave, APN: 006-175-005, includes a 2 bd 1 ba home on 0.14 acres also situated on the front portion of the lot, with a parking area in the rear that can accommodate approx. 7 parking spaces. 422 & 422 1/2 E Grand Ave, APN: 006-175-020, includes 2 bd 1 ba home as well as a 1 bd 1 ba unit above a 2-car garage. This property is on 0.14 acres and can accommodate 4 parking spaces including the 2-car garage. Currently, 422 and 422 1/2 are tenant-occupied, bringing in rental income of $1,768 and $1,632 per month, respectively. Units 414 and 418 are vacant, ready to be rented at market rates. Situated in a prime trade district, this property boasts a highly desirable location on Grand Avenue—the main artery connecting Arroyo Grande with Grover Beach and the Pacific Ocean. To the east, just a short walk over the 101 freeway, you'll find the charming Village of Arroyo Grande, home to fantastic restaurants, shops, and a vibrant community. According to city planning, this site is ideal for mixed-use development, with potential for at least nine residential units (townhomes or apartments) in addition to commercial storefronts. Buyers and their agents are responsible for confirming any intended use with the city’s building and planning department. All information is deemed reliable but not guaranteed and Buyer and Buyer’s Agents are responsible for due diligence. This is an excellent development opportunity. While planning the property’s future, the buyer can continue collecting significant rental income. The flexibility of three parcels allows for a phased approach, giving you control over the scope and timeline of redevelopment. Call today to schedule a viewing and bring your vision—and your contractor! Please be respectful: do not disturb tenants or loiter on or near the property.
Property Type(s):
Single Family
| Last Updated | 11/1/2024 | Tract | East of 101(500) |
|---|---|---|---|
| Year Built | 1936 | Community | Arroyo Grande |
| Garage Spaces | 2.0 | County | San Luis Obispo |
SCHOOLS
| School District | Lucia Mar Unified |
|---|
Price History
| Prior to Nov 1, '24 | $2,065,000 |
|---|---|
| Nov 1, '24 - Today | $1,995,000 |
Additional Details
| AIR | None |
|---|---|
| AREA | Arroyo Grande |
| GARAGE | Garage, Paved, Yes |
| HOA DUES | 0 |
| LOT | 0.43 acre(s) |
| LOT DESCRIPTION | Level, Paved, Rectangular Lot, Street Level |
| PARKING | Garage,Paved |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | East of 101(500) |
| VIEW | Yes |
| VIEW DESCRIPTION | Mountain(s) |
| WATER | Public |
Location
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Listed with RE/MAX Success
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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