414 E Grand Avenue, #414, 418, 422 & 422 1/2

Description

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.

Listing information courtesy of: Michael Puhek, RE/MAX Success . *Based on information from the Association of REALTORS/Multiple Listing as of 11/13/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.