Arroyo Grande, CA 93420 1191 Fair Oaks Avenue
$2,475,000
4 more
Presented By: Bryan Friedman with Berkshire Hathaway Home Servic; 805-704-7080
Beds • 16
Full/Half Baths • 1 / 1
SQFT • 6,185
Year Built • 1984
Home Details
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.
Presented By: Bryan Friedman with Berkshire Hathaway Home Servic; 805-704-7080
Interior Features for 1191 Fair Oaks Avenue
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace FeaturesBath, Kitchen, LivingRoom
Fireplace Y/NYes
FlooringCarpet, Laminate
Heating Y/NYes
Interior AmenitiesAllBedroomsUp
Laundry FeaturesCommonArea
Total Stories2
Other Rooms
Entry Level1
General for 1191 Fair Oaks Avenue
AccessibilityNone
Additional Parcels Y/NNo
AppliancesGasRange, GasWaterHeater
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate4.48
Carport Spaces8.0
Carport Y/NYes
CityArroyo Grande
Community FeaturesCurbs, DogPark, Park, StreetLights, Sidewalks
CoolingNone
CountySan Luis Obispo
DirectionsNE Corner of South Elm Street and Fair Oaks Avenue
ElectricElectricityOnProperty, Standard
Electric Expense0.0
Electric On Property Y/NNo
Entry LocationGround Level
Fuel Expense0.0
Garage Spaces0.0
Garage Y/NNo
Gross Income0.0
HOANo
HOA Fee$0.0
HeatingWallFurnace
Home Warranty Y/NNo
Insurance Expense0.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash
Lot Size Square Feet12371.0
Lot Size UnitsSquareFeet
MLS AreaAG-West of Hwy 101
MobileHomeRemainsYNNo
Net Operating Income114239.0
New ConstructionNo
Number Of Units Total8
Open Parking Spaces8.0
Operating Expense46670.0
Pool FeaturesNone
PossessionCloseOfEscrow
Property Attached Y/NYes
Property Sub Type AdditionalMixedUse
Property SubtypeMixedUse
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActiveUnderContract
StatusActiveUnderContract
Stories2
Tax Lot114
Tenant PaysElectricity, Gas
Trash Expense0.0
UtilitiesElectricityConnected, NaturalGasConnected, SewerConnected, WaterConnected
Water Sewer Expense0.0
Waterfront Y/NNo
Year Built1984
Year Built SourceOwner
ZoningR3
Exterior for 1191 Fair Oaks Avenue
Building Area Total6185.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesCornerLot
Lot Size Acres0.284
Lot Size Area12371.0
Lot Size SourceAssessor
Number of Buildings2
Number of Separate Electric Meters10
Number of Separate Gas Meters9
Number of Separate Water Meters1
Open Parking Y/NNo
Parking FeaturesCarport, OnSite, Paved
Private PoolNo
SpaNo
Total Parking16.0
Water SourcePublic
Additional Details
Price History
Keegan Cin
Team Lead
Price
$2,475,000
MLS#PI25034031
List Date
02/14/2025
Property Type
Multi-Family
Phone
(310) 963-5595
