1220 1218 E Grand Avenue,Arroyo Grande, CA 93420
Arroyo Grande, CA 93420
Description
1/2-acre Mixed-Use property with 3 residential units and 1 commercial unit located directly off Grand Ave in the heart of Arroyo Grande. Property is a long strip 70 ft wide and the length of a football field. At the front of the property, directly across the street from Starbucks, is a 350 sq ft commercial building with paver parking lot. This space has been freshly refinished and can potentially be utilized for a wide range of businesses activities including retail, food & beverage, office space, personal services, or even lodging. Heading up the driveway are 3 residential units, each with their own dedicated parking and patio areas. The front home is a 2 bedroom 1 bath unit and overlooks a private fenced front yard. It has a stacked washer/dryer setup in the bathroom. The back 2 units are both 1 bedroom 1 bath and have been fully refinished with all new cabinets, counters, flooring, fixtures, tile showers, etc. They share a common laundry room that is accessed from each of their respective covered patios. The 3 residences are currently rented for $7,700 per month, and the commercial space is estimated to be able to rent for $2,300 per month, bringing the total gross rents possible on existing units to approximately $10,000 per month. The back 1/4-acre of the property feels like it could be its own lot, and largely represents a blank slate for the new owner. Currently it includes a large gravel parking area and a small bonus structure with wrap around lanai. There are RV hookups and a large yard with lots of storage. The top part of the property has ground level ocean views and could potentially be built out with a new single family home or multiple additional rental units. Seller says 3 ADUs at back of property are doable vs building a large multi-family structure (buyer to confirm with city). Alternatively the back 1/2 of the property could be utilized to support one's business ventures, by building a shop or storing equipment, as the zoning allows for many potential uses in addition to the existing residences. This is a must see to appreciate kind of property! The back half is set back far enough from Grand Ave that you actually get a great sense of quiet, peacefulness and privacy while maintaining the central in-town feel and convenience. One could potentially come setup their RV and build a downtown ocean-view primary home in the back while letting the existing cash-flowing rentals in the front pay the mortgage bill.
Details
| MLS # | PI26067088 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1955 |
| Days On Site | 149 |
| Listing Provided By | Auer Real Estate Inc. | Brenda Auer |
Features
| SQ Feet | 2,060 |
|---|---|
| Story(s) | 1 |
| Units | 4 |
| Building(s) | 2 |
| Zoning | GC |
| Acreage | 0.50 |
| Property View | Yes |
Interior
| Cooling | None |
|---|---|
| Cooling Yes / No | No |
| Interior Features | All Bedrooms Down |
| Fireplace Yes / No | No |
Exterior
| Roof | Composition |
|---|---|
| Lot Features | Garden, Gentle Sloping, Rectangular Lot |
| Fencing | Chain Link, Wood |
Parking
| Garage Yes / No | No |
|---|
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Curbs, Storm Drains, Street Lights, Sidewalks |
|---|
Area Information
| State | CA |
|---|---|
| County | San Luis Obispo |
| City | Arroyo Grande |
| Zip Code | 93420 |
| Area | ARRG Arroyo Grande |
| Community Name | West of 101(1000) |
| Listing VS Median (in West of 101(1000)) | |
Price: $1,499,000 low | high Med: $1,499,000 sqft: 2,060 low | high Med: 2,060 $ / sqft: $728 low | high Med: $728 On site: 149 low | high Med: 149 | |
Market Activity 93420
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Learn More About This Property
| State | CA |
|---|---|
| County | San Luis Obispo |
| City | Arroyo Grande |
| Zip Code | 93420 |
| Area | ARRG Arroyo Grande |
| Community Name | West of 101(1000) |
| Listing VS Median (in West of 101(1000)) | |
Price: $1,499,000 low | high Med: $1,499,000 sqft: 2,060 low | high Med: 2,060 $ / sqft: $728 low | high Med: $728 On site: 149 low | high Med: 149 | |
