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 (414 [1 bd 1 ba], 418 [2 bd 1 ba], 422 [2 bd 1 ba] &' 422 1/2 E [1 bd 1 ba with 2-car garage] Grand Ave). This versatile property offers multiple income-generating options. 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 for remodeling and 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 Details
Price:
$2,065,000
MLS #:
PI24189686
Status:
Active
Beds:
6
Baths:
4
Address:
414 E Grand Avenue
Type:
Single Family
Subtype:
Commercial/Residential
Subdivision:
East of 101500
Neighborhood:
arrgarroyogrande
City:
Arroyo Grande
Listed Date:
Sep 19, 2024
State:
CA
Finished Sq Ft:
2,593
ZIP:
93420
Lot Size:
18,730 sqft / 0.43 acres (approx)
Year Built:
1936
Schools
Interior
Cooling
None
Fireplace Features
None
Exterior
Community Features
Sidewalks, Street Lights
Garage Spaces
2.00
Lot Features
Level with Street, Rectangular Lot, Level, Paved
Parking Features
Paved, Garage
Parking Spots
2.00
Pool Features
None
Roof
Shingle
Sewer
Public Sewer
Spa Features
None
Stories Total
2
View
Mountain(s)
Water Source
Public
Financial
Association Fee
0.00
Map
Contact Us
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Full-time Real Estate Broker, sold 1100+ Properties in SLO and SBC County. 38 years of local real estate knowledge and experience. I understand each sale is about you and your goals. I know as we get older, we don’t have time to make up for any mistakes especially when it comes to one the most significant investments. I care about my clients and work very hard to share my knowledge and protect you along the way. I place the appropriate verbiage in the listing and listing agreement depending …
More About JoAnn Courtesy of RE/MAX Success. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than Outland and Associates / JoAnn Outland include the name of the listing broker. Neither the listing company nor Outland and Associates / JoAnn Outland shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
414 E Grand Avenue
Arroyo Grande, CA
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