1173 Fair Oaks Ave, Arroyo Grande, CA 93420

$5,250,000 Approx. USD 28 beds, 1 baths
23,370 sqft

Agent 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.

Listing Details

Property type: (Multi-family)
Status: Active
MLS# 1067816
List price is $5,250,000
Beds: 28
Baths: 1 (1 full)
Built in 1980
23,370 sqft
Lot size: 1.4000
Subdivision: West of 101
County: San Luis Obispo
Exterior features: BBQ,Decks,Fenced,Patio Covered,Patio,Pool,Sauna
Parking description: 51-100,Covered
Heating description: Forced Air
MLS area: Arroyo Grande

Last Updated: 6/10/2016

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Lat/Long: 35.112201, -120.599525.
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Broker: Courtesy of King Properties
Listing Agent: Kevin King

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Total population of , which has changed by % since 1990.
The median age of the population is , while the median age of dwellings is .
Out of households, are families.

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