414 Grand AveSan Luis Obispo, CA 93405

Property Details for 414 Grand Ave

Year built

1936

Lot size

0.43 AC

Property size (Sq ft)

3,358 SF

Property type

Investment properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a portfolio of four homes situated on three separate parcels totaling 0.43 acres in the heart of Arroyo Grande, California. The property consists of four buildings, each with its own unique characteristics. 414 E Grand Ave (APN: 006-175-006) features a 1-bedroom, 1-bathroom home on a 0.15-acre lot with potential for approximately 8 parking spaces. 418 E Grand Ave (APN: 006-175-005) offers a 2-bedroom, 1-bathroom home on a 0.14-acre lot with space for approximately 7 parking spaces. Finally, 422 & 422 1/2 E Grand Ave (APN: 006-175-020), situated on a 0.14-acre lot, includes a 2-bedroom, 1-bathroom home and a 1-bedroom, 1-bathroom unit above a 2-car garage, providing 4 parking spaces. Two units are currently tenant-occupied, generating a combined monthly rental income of $3,300 ($1,768 and $1,632 respectively). The remaining two units are vacant, offering immediate potential for increased rental income. The combined square footage of all units is 3,358 square feet, spread across a two-story configuration. The property is zoned for Commercial/Mixed Use, presenting significant redevelopment potential. City planning suggests the possibility of at least nine additional residential units (townhomes or apartments) and commercial storefronts. This prime location on Grand Avenue offers easy access to the Village of Arroyo Grande, Grover Beach, and the Pacific Ocean. The phased redevelopment approach, facilitated by the three separate parcels, provides flexibility and control over the project timeline. The asking price for this exceptional portfolio is $1,995,000. All information is deemed reliable but not guaranteed

Location Insight

City

San Luis Obispo

County

San Luis Obispo

State

California

Latitude

35.1204

Longitude

-120.587

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].