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414 E Grand Avenue , 414, 418, 422 &

Arroyo Grande, CA 93420
  • $1,995,000
  • STATUS: Active
  • ON SITE: 60 Days
  • ID#: PI24190156
Price Reduced
UPDATED: 19 min ago
$1,995,000
  • 0
    BEDS
  • 0.43
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1936
County:

School Ratings & Info

Listing Agent(s): Michael Puhek of RE/MAX Success (805-481-9800)


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 citys building and planning department. All information is deemed reliable but not guaranteed and Buyer and Buyers Agents are responsible for due diligence. This is an excellent development opportunity. While planning the propertys 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.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-11-12T21:39:30.597. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Mainstreet Realtors®. Licensed in the State of California, USA.
www.mainstreetgroup.com/homes/155104428
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414 E Grand Avenue , 414, 418, 422 & Arroyo Grande, CA 93420

  • Price: $1,995,000
  • Status: Active
  • On Site: 60 Days
  • Updated: 19 min ago
  • ID#: PI24190156
0
Beds
0
Baths
0
½ Baths
0.43
Acres
1936
Built
Neighborhood:
Ag-West Of Hwy 101
County:
San Luis Obispo
Area:
Ag-West Of Hwy 101
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 citys building and planning department. All information is deemed reliable but not guaranteed and Buyer and Buyers Agents are responsible for due diligence. This is an excellent development opportunity. While planning the propertys 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.
Exterior Features

Entry Level 1 Lot Features LevelPavedRectangular Lot Parking Total 19 Roof Shingle Sign On Property YN Yes

Interior Features

Cooling None Cooling YN No

Property Features

Additional Parcels YN Yes Common Interest None Land Lease YN No Laundry Features Washer HookupElectric Dryer HookupGas Dryer Hookup Lease Considered YN No Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New LoanConventional Number Of Units Leased 2 Property Sub Type Mixed Use Special Listing Conditions Standard Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-11-12T21:39:30.597. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Mainstreet Realtors®. Licensed in the State of California, USA.
 
https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_373337817-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_373337817-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_373337817-2.jpg
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Mainstreet Realtors®
10300 Fourth St. Ste 100
Rancho Cucamonga CA, 91730
Listing Agent(s): Michael Puhek of RE/MAX Success (805-481-9800)