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1173 Fair Oaks Avenue, Arroyo Grande, CA 93420

$5,250,000

  • For Sale
  • Active
  • Multi-Family
1173 Fair Oaks Avenue, Arroyo Grande, CA 93420View this property at 1173 Fair Oaks Avenue, Arroyo Grande, CA 93420
1173 Fair Oaks AvenueArroyo GrandeCA93420
Property Description
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.

Full Property Details for 1173 Fair Oaks Ave

General

  • Price: $5,250,000
  • Status: Active
  • Type: Multi-Family
  • MLS ID: SP1067816
  • Updated: 3/2/2018
  • Added: 804 day(s) ago

Parking

  • Parking Features: Covered Parking
  • Parking: Covered Parking

Location

  • Area: ARRG - Arroyo Grande
  • County: San Luis Obispo
  • Development Name: ARRG - Arroyo Grande

Heating & Cooling

  • Cooling Type: None
  • Heating Type: Forced Air

Structural Information

  • Foundation: Slab
  • Roof: Shingle
  • Stories/Levels: Two
  • Stories Description: Two
  • Square Feet: 23,370
  • Year Built: 1980

Unit Information

Unit 1

  • Number of Units: 20
  • Total Bathrooms: 1
  • Bedrooms: 1

Unit 2

  • Number of Units: 8
  • Total Bathrooms: 1
  • Bedrooms: 2

Lot Features

  • Lot Size (Sq. Ft.): 60,984
  • Lot Size Source: Assessor
  • Zoning: APT
  • Lot Description: Paved

Financial Considerations

  • Price Per Sq. Ft.: $224.65

Listed by King Properties, Kevin King

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Schools

Schools serving 1173 Fair Oaks Ave

Score
Name
Grades
Distance
7
901 Fair Oaks Ave, Arroyo Grande, CA 93420
K-6
0.4 mi
6
600 Crown Hill St, Arroyo Grande, CA 93420
7-8
1.9 mi
7
495 Valley Road, Arroyo Grande, CA 93420
8-12
1.1 mi
Disclaimer: School ratings provided by GreatSchools. Ratings are on a scale of 1-10. Learn more about GreatSchools ratings. School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History

Price & Sales History for 1173 Fair Oaks Ave Get Price Alerts

Date
Details
Price
Change
Source
6/07/2016
Listed
$5,250,000
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
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Community Info

Community Info for 1173 Fair Oaks Ave

Listed by King Properties, Kevin King

1173 Fair Oaks Avenue, Arroyo Grande, CA 93420 (MLS# SP1067816) is a Multi-Family property with 28 units containing 0 bedrooms and 0 full bathrooms. 1173 Fair Oaks Avenue is currently listed for $5,250,000 and was received on June 07, 2016. Want to learn more about 1173 Fair Oaks Avenue? Do you have questions about finding other Multi-Family real estate for sale in Arroyo Grande? You can browse all Arroyo Grande real estate or contact a Coldwell Banker agent to request more information.