414 E Grand AVE #414, 418, 422 & 422 1/2 Active Save Request In-Person Tour Request Virtual Tour
Arroyo Grande,CA 93420
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 3,358 sqft
Price per Sqft $614
MLS Listing ID PI24190156
HOA Y/N No
Year Built 1936
Lot Size 0.430 Acres
Acres 0.43
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 Ag-West Of Hwy 101
Rooms
Ensuite Laundry Washer Hookup,Electric Dryer Hookup,Gas Dryer Hookup
Interior
Laundry Location Washer Hookup,Electric Dryer Hookup,Gas Dryer Hookup
Cooling None
Fireplace No
Laundry Washer Hookup,Electric Dryer Hookup,Gas Dryer Hookup
Exterior
Roof Type Shingle
Present Use Multi-Family
Total Parking Spaces 19
Building
Lot Description Level,Paved,Rectangular Lot
Story 2
Water Public
Others
Tax ID 006175006
Acceptable Financing Cash,Cash to New Loan,Conventional
Listing Terms Cash,Cash to New Loan,Conventional
Special Listing Condition Standard