1220 E Grand Avenue, Arroyo Grande, CA 93420
Property Details
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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 quite, 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.
PROPERTY DETAILS: Square Feet: 2060 | Bathrooms: 4
INTERIOR FEATURES: • Cooling: None • Common Walls: 2+ Common Walls • Fireplaces: None
EXTERIOR FEATURES: • Roof: Composition • Pool Description: None • Lot View: Ocean • Zoning: GC • Fence: Chain Link, Wood • Additional Exterior/Lot Features: Garden Sloped, Rectangular Lot, Garden, Gentle Sloping
LISTING AGENT: Agent: Brenda Auer | Office: Auer Real Estate Inc. | Phone: 8058016694 | Email: [email protected]
LISTING INFORMATION: MLS#: PI26063326 | Status: FOR SALE
Location
Address
1220 E Grand Avenue
City
Arroyo Grande
Features and Finishes
Interior Features:
• Cooling: None
• Common Walls: 2+ Common Walls
• Fireplaces: None
Exterior Features:
• Roof: Composition
• Pool Description: None
• Lot View: Ocean
• Zoning: GC
• Fence: Chain Link, Wood
• Additional Exterior/Lot Features: Garden Sloped, Rectangular Lot, Garden, Gentle Sloping
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