Price
$ 5,250,000

1173 Fair Oaks Avenue, Arroyo Grande, CA 93420  

1173 Fair Oaks Avenue, Arroyo Grande, CA 93420  

Marketing Remarks: The property consists of 5 buildings, each two story with wood frame and stucco construction. The property has been well maintained and has had recent improvements to both the exterior and interiors. The individual units are well sized with one bedroom and two bedroom units. Common areas include storage, a swimming pool, laundry facility, and a stand alone leasing office. There is abundant off street parking both covered and uncovered. The property includes a greenbelt at rear of property, with potential for additional units. Owner had approved plans for an additional 8 units on back greenbelt, laundry room expansion, and hot tub installation (Plans need update, use permit expired). The property is conveniently located near parks, schools, major retail, and employment. Rents are being raised substantially on turned over units, but there is still significant upside in rents. Selling at $187,500 per unit where single family homes in the neighborhood are selling above $500,000.

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  • Listing Type Multi-Family
  • Listing ID SP1067816
  • Listing Status Active
  • Year Built 1980
  • County San Luis Obispo
  • Subdivision West Of 101(1000)
  • Units 28
  • Zoning APT
  • TaxID 077272005
Listing courtesy of Kevin King~King Properties
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