414 Grand Ave San Luis Obispo, CA 93405
- Office Properties & Spaces
- 3,358 SF
- 0.43 lot acres
Current Use by Public Records
- Office Properties & Spaces
Property Details for 414 Grand Ave
- Year built
- 1936
- Lot size
- 0.43 lot acres
- Property size
- 3,358 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Mixed-use 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
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- San Luis Obispo
- County
- San Luis Obispo
- State
- California
- Longitude
- -120.587
- Latitude
- 35.1204
