414 E Grand AVE, Arroyo Grande, CA 93420 - MLS#PI24189686

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Katrina Smith

katrina.smith@pinpointproperties.com +1(949) 209-9004

$1,995,000

Est. payment - /mo

6 Beds

4 Baths

3,358 SqFt

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UPDATED:

12/05/2024 05:07 AM

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

HOA Y/N No

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

Rooms

Main Level Bedrooms 5

Interior

Cooling None

Fireplaces Type None

Fireplace No

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

Porch None

Attached Garage Yes

Total Parking Spaces 2

Private Pool No

Building

Lot Description Level, Paved, Rectangular Lot, Street Level

Dwelling Type Mixed Use

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Schools

School District Lucia Mar Unified

Others

Senior Community No

Tax ID 006175006

Acceptable Financing Cash, Cash to New Loan, Conventional

Listing Terms Cash, Cash to New Loan, Conventional

Special Listing Condition Standard

Lease Land No

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Listed by Michael Puhek • RE/MAX Success • 805-459-1627

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Katrina Smith

+1(949) 209-9004

Broker | DRE#01915697

Broker DRE#01915697