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Listed by Brenda J Auer • Auer Real Estate Inc.
$ 1,399,000
Est. payment /mo
Price Dropped by $100K
1218 East Grand Avenue Arroyo Grande, CA 93420
1,716 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Commercial/Residential
Listing Status Active
Purchase Type For Sale
Square Footage 1,716 sqft
Price per Sqft $815
MLS Listing ID PI-25091995
Year Built 1955
Lot Size 0.498 Acres
Property Sub-Type Commercial/Residential
Property Description
1/2-acre Residential/Commercial mixed use property located on Grand Ave next to Chase bank, and directly across from Starbucks & Chipotle. Property is a long strip 70 ft wide by 310 ft long, with single ingress/egress directly off Grand Ave. At the front of the property, just along the pedestrian zone is an approximately 350 sq ft stand alone commercial unit with full bathroom and loft area, and an adjacent 1,000 sq ft paver parking/patio area. This space is currently setup as a home-style office and can potentially be utilized for a wide range of businesses activities, including but not limited to retail sales, food & beverage, lodging/vacation rental, and a variety of different services. Heading up the driveway are 3 residential units, each with their own dedicated parking and yard/patio areas. The front home is a 2 bedroom 1 bath unit and overlooks a private fenced yard in the front. 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 rentals have averaged $7,500/month gross rental income for the past couple of years. The back 1/2 of the property includes a large gravel parking area, a small "club house", RV hookups, and a large yard with chicken coops, raised garden bed and fruit trees. This 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. Alternatively it could be utilized to support one's business ventures, as the unique zoning of the property allows for many potential uses in addition to the existing residences. With this property you can take your business ventures to the next level while letting the existing rental income pay the mortgage... Definitely a must see!
Location
State CA
County San Luis Obispo
Area Arrg - Arroyo Grande
Zoning GC
Interior
Laundry Individual Room, Stackable
Exterior
Parking Features Gated
Pool None
Community Features Curbs, Sidewalks, Storm Drains, Street Lights
View Y/N Yes
View Ocean
Building
Lot Description Garden, Gentle Sloping, Lot 20000-39999 Sqft, Rectangular Lot
Sewer Public Sewer
Nicole Van Parys & Gary Nesen
License Partners, Private Office Advisors | License ID: 01108944