1218-1220 E Grand Avenue, Arroyo Grande, CA 93420
Local realty services provided by:ERA North Orange County Real Estate
1218-1220 E Grand Avenue,Arroyo Grande, CA 93420
$1,499,000
- - Beds
- 4 Baths
- 2,060 sq. ft.
- Multi-family
- Active
Listed by: brenda auer
Office: auer real estate inc.805-801-6694
MLS#:PI26067088
Source:CRMLS
Price summary
- Price:$1,499,000
- Price per sq. ft.:$727.67
About this home
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 quiet, 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....
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Home facts
- Year built:1955
- Listing ID #:PI26067088
- Added:63 day(s) ago
- Updated:May 29, 2026 at 10:33 AM
Rooms and interior
- Total bathrooms:4
- Living area:2,060 sq. ft.
Structure and exterior
- Roof:Composition
- Year built:1955
- Building area:2,060 sq. ft.
- Lot area:0.5 Acres
- Lot Features:Garden, Gentle Sloping, Rectangular Lot
- Levels:1 Story
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$1,499,000
- Price per sq. ft.:$727.67
Features and amenities
- Laundry features:Stacked
- Amenities:All Bedrooms Down
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