Active
414 E Grand Avenue 414, 418, 422 & 422 1/2
Arroyo Grande CA, 93420
$2,065,000
$796.37 per sqft
Active
2,593 sqft
Commercial
Built in 1936
Listed by Michael Puhek with RE/MAX Success 805-459-1627
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.
PI24190156
MLSⓇ ID
September 12, 2024
Listed
October 1, 2024
Updated
Map
414 E Grand Avenue 414, 418, 422 & 422 1/2
Arroyo Grande CA, 93420
Interior Features
Total Stories
2
Laundry Description
Washer Hookup, Electric Dryer Hookup, Gas Dryer Hookup
Fireplace
No
Cooling
No
Cooling Description
None
Heating
No
Exterior/Building Features
Lot Size
0.43 Acres
Lot Features
Level, Paved, Rectangular Lot
Roof
Shingle
Other Property Details
Area Name
AG-East of Hwy 101
Days on Market
8
Garage
No
View
No
County
San Luis Obispo
Water Source
Public
Pool
No
Listing Contact: 805-481-9800
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 10/1/2024. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.
Data last updated on 10/1/2024 at 10:50 PM UTC