414 E Grand AVE Active Save Request In-Person Tour Request Virtual Tour
Arroyo Grande,CA 93420
Key Details
Property Type Single Family Home
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 3,358 sqft
Price per Sqft $594
Subdivision East Of 101(500)
MLS Listing ID PI24189686
Bedrooms 6
Full Baths 4
Year Built 1936
Lot Size 0.430 Acres
Property Description
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.
Location
State CA
County San Luis Obispo
Area Arrg - Arroyo Grande
Interior
Cooling None
Fireplaces Type None
Laundry Electric Dryer Hookup,Gas Dryer Hookup
Exterior
Parking Features Garage,Paved
Garage Spaces 2.0
Garage Description 2.0
Pool None
Community Features Street Lights,Sidewalks
View Y/N Yes
View Mountain(s)
Roof Type Shingle
Building
Lot Description Level,Paved,Rectangular Lot,Street Level
Dwelling Type Mixed Use
Story 2
Sewer Public Sewer
Water Public
New Construction No
Schools
School District Lucia Mar Unified
Others
Acceptable Financing Cash,Cash to New Loan,Conventional
Listing Terms Cash,Cash to New Loan,Conventional
Special Listing Condition Standard