Active

414 E Grand Avenue

Arroyo Grande CA, 93420

$1,995,000


$594.10 per sqft

Active

6 Beds

4 Baths

3,358 sqft

Residential

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. 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.

PI24189686

MLS ID

September 20, 2024

Listed

November 2, 2024

Updated

Map

414 E Grand Avenue
Arroyo Grande CA, 93420

Interior Features

Total Stories

2


Bedrooms

6


Total Bathrooms

4


Full Bathrooms

4


Laundry Description

Electric Dryer Hookup, Gas Dryer Hookup


Fireplace

No


Fireplace Description

None


Cooling

No


Cooling Description

None


Heating

No

Exterior/Building Features

Lot Size

0.43 Acres


Lot Features

Level, Paved, Rectangular Lot, Street Level


Roof

Shingle


Sewer

Public Sewer

School Information

School District

Lucia Mar Unified

Other Property Details

Area Name

ARRG - Arroyo Grande


Days on Market

42


Garage

Yes


Garage Spaces

2


Parking

Garage, Paved


Parking Total

2


View

Yes


View Description

Mountain(s)


County

San Luis Obispo


Water Source

Public


Pool

No


Pool Features

None

Listing History

Date

Event

Price

11/1/2024

Price change

$1,995,000

-4%

Listing Contact: 805-481-9800 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 11/2/2024. 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 11/2/2024 at 11:15 AM UTC

 

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