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1191 Fair Oaks Avenue

Arroyo Grande, CA 93420
  • $2,325,000
  • STATUS: Closed
  • ON SITE: 336 Days
  • ID#: PI25034031
Sold - 05/08/2025
$2,325,000
SOLD - 05/08/2025
  • 0
    BEDS
  • 0.28
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1984
County:

School Ratings & Info

Listing Agent(s): Bryan Friedman of Berkshire Hathaway Home Servic (805-556-3100)


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.

Sold by General Nonmember of NONMEMBER MRML.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2026-01-18T21:38:16.62. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Equity Union. Licensed in the State of California, USA.
www.kennyrealestategroup.com/homes/160565799
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1191 Fair Oaks Avenue Arroyo Grande, CA 93420

  • Price: $2,475,000
  • Status: Closed
  • On Site: 336 Days
  • Updated: 32 min ago
  • ID#: PI25034031
0
Beds
0
Baths
0
½ Baths
0.28
Acres
1984
Built
Neighborhood:
Ag-West Of Hwy 101
County:
San Luis Obispo
Area:
Ag-West Of Hwy 101
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.
Exterior Features

Carport Spaces 8 Carport YN Yes Entry Level 1 Entry Location Ground Level Lot Features Corner Lot Number Of Separate Electric Meters 10 Open Parking Spaces 8 Parking Features CarportOn SitePaved Parking Total 16 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Accessibility Features None Appliances Gas RangeGas Water Heater Common Walls 2+ Common Walls Cooling None Cooling YN No Fireplace Features BathKitchenLiving Room Fireplace YN Yes Flooring CarpetLaminate Heating Wall Furnace Heating YN Yes Interior Features All Bedrooms Up

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Buyer Financing Private Cap Rate 4.48 Common Interest None Community Features CurbsDog ParkParkStreet LightsSidewalks Electric Electricity - On PropertyStandard Electric Expense 0 Fuel Expense 0 Garage YN No Gross Income 0 Gross Scheduled Income 160909 Insurance Expense 0 Land Lease YN No Laundry Features Common Area Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Cash Net Operating Income 114239 New Construction YN No Number Of Separate Gas Meters 9 Number Of Separate Water Meters 1 Operating Expense 46670 Possession Close Of Escrow Property Sub Type Mixed Use Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Trash Expense 0 Utilities Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Water Sewer Expense 0 Water Source Public Zoning R3



Based on information from California Regional Multiple Listing Service, Inc. as of 2026-01-18T21:38:16.62. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Equity Union. Licensed in the State of California, USA.
 
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Equity Union
860 Walnut St. Ste C
San Luis Obispo CA, 93401
Listing Agent(s): Bryan Friedman of Berkshire Hathaway Home Servic (805-556-3100)