Alex Gingrich

Salesperson | License ID: 01797428

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$ 2,325,000

$ 2,475,000 6.1%

Est. payment -/mo

Sold on 05/08/2025

1191 Fair Oaks AVE Arroyo Grande, CA 93420

0.28 Acres Lot

UPDATED:

Key Details

Sold Price $2,325,000

Property Type Multi-Family

Sub Type Mixed Use

Listing Status Sold

Purchase Type For Sale

MLS Listing ID PI25034031

Sold Date 05/08/25

HOA Y/N No

Year Built 1984

Lot Size 0.284 Acres

Property Sub-Type Mixed Use

Property Description

Price improvement on a fantastic investment opportunity for a well located 8 unit apartment complex in Arroyo Grande. Only 4 short blocks to Grand Avenue shopping district, across the street from the Soto Sports Complex and park, just down the street from Harloe Elementary School and very close to both Arroyo Grande High School and Dignity Health Medical Center. Great performing asset with very strong rental history. Rarely available income property in great Central Coast neighborhood. Well maintained property, professionally managed and stable tenants. Each unit includes 2 bedrooms, 1.5 bathrooms, fully equipped eat-in kitchen, one carport parking space and one uncovered on-site parking space. Five of the units have their own private rear patio area. There is abundant street parking as well. Below market rents and on-site laundry facilities provide additional upside for such a rare offering. Ideal 1031 investment and great value at only $309,000 per unit. Please Do not disturb Tenants.

Location

State CA

County San Luis Obispo

Area Ag-West Of Hwy 101

Zoning R3

Interior

Interior Features All Bedrooms Up

Heating Wall Furnace

Cooling None

Flooring Carpet, Laminate

Fireplaces Type Bath, Kitchen, Living Room

Fireplace Yes

Appliance Gas Range, Gas Water Heater

Laundry Common Area

Exterior

Parking Features Carport, On Site, Paved

Carport Spaces 8

Pool None

Community Features Curbs, Dog Park, Park, Street Lights, Sidewalks

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

Accessibility None

Total Parking Spaces 16

Private Pool No

Building

Lot Description Corner Lot

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 077272052

Acceptable Financing Cash

Listing Terms Cash

Financing Private

Special Listing Condition Standard

Listed by Bryan Friedman • Berkshire Hathaway Home Servic • 805-704-7080
Bought with General NONMEMBER • NONMEMBER MRML

Alex Gingrich

Salesperson | License ID: 01797428

+1(818) 919-0159

GET MORE INFORMATION