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 #:
PI24190156
Status:
Active
Baths:
0
Address:
414 E Grand Avenue 414, 418, 422 & 422 1/2
Type:
Commercial
Subtype:
Mixed Use
Neighborhood:
ageastofhwy101
City:
Arroyo Grande
Listed Date:
Sep 11, 2024
State:
CA
ZIP:
93420
Year Built:
1936
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Get Out There, A Simply Outgoing Approach to Life. James Outland Jr. is one of those rare people who simply has an outgoing approach to life. No matter the activity… from dune buggy riding to skydiving to motorcycling to riding the local Pismo Beach waves… James Outland Jr. approaches life with a “just get out there and do it” kind of attitude. A zest for Life. James’ zest for life is obviously apparent in his many exciting hobbies. In his spare time, he loves riding dune buggies or hi…
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Schools
Interior
Cooling
None
Exterior
Roof
Shingle
Stories Total
2
Water Source
Public
Financial
Map
Community
- Address414 E Grand Avenue 414, 418, 422 & 422 1/2 Arroyo Grande CA
- AreaAG-East of Hwy 101
- CityArroyo Grande
- CountySan Luis Obispo
- Zip Code93420
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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 Real Estate include the name of the listing broker. Neither the listing company nor Outland and Associates Real Estate 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 414, 418, 422 & 422 1/2
Arroyo Grande, CA
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