$2,325,000
SOLD MAY 8, 2025

1191 Fair Oaks Ave Arroyo Grande, CA 93420

2 Beds
2 Baths
6,185 Sq Ft
0.28 Acres

Recently Sold

$376 Per Sq Ft

9% Below List Price

39 Days on Market

Highlights

  • Fireplace in Bathroom
  • Corner Lot
  • Park
  • Arroyo Grande High School Rated A-
  • No HOA
  • Laundry Room

About This Home

As of May 2025

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.

Last Agent to Sell the Property

Bryan Friedman

Berkshire Hathaway Home Servic Brokerage Phone: 805-704-7080 License #00883991 Listed on: 02/14/2025

Berkshire Hathaway Home Servic

Last Buyer's Agent

NoEmail NoEmail

NONMEMBER MRML

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1984

Lot Details

  • 0.28 Acre Lot
  • Two or More Common Walls
  • Corner Lot

Home Design

  • Property Attached

Interior Spaces

  • 6,185 Sq Ft Home
  • 2-Story Property
  • Living Room with Fireplace
  • Laundry Room

Kitchen

  • Gas Range
  • Fireplace in Kitchen

Flooring

  • Carpet
  • Laminate

Bedrooms and Bathrooms

  • 2 Bedrooms
  • All Upper Level Bedrooms
  • 2 Bathrooms
  • Fireplace in Bathroom

Parking

  • 8 Open Parking Spaces
  • 16 Parking Spaces
  • 8 Carport Spaces
  • Parking Available
  • Paved Parking

Outdoor Features

  • Exterior Lighting

Utilities

  • Wall Furnace
  • Natural Gas Connected
  • Gas Water Heater

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 114
  • Assessor Parcel Number 077272052

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 8 Units

Amenities

  • Laundry Facilities

Recreation

  • Park
  • Dog Park

Building Details

  • Rent Control
  • 10 Separate Electric Meters
  • 9 Separate Gas Meters
  • 1 Separate Water Meter
  • Operating Expense $46,669
  • Net Operating Income $114,239

Property Details

Home Type

Multi-Family

Year Built

Built in 1984

Lot Details

0

Listing Details

  • CapRate: 4.48
  • Price Per Unit: 309375
  • Property Attached: Yes
  • Zoning: R3
  • Property Sub Type: Commercial/Residential
  • Property Type: Residential Income
  • Parcel Number: 077272052
  • Year Built: 1984
  • Special Features: None

Interior Features

  • Fireplace: Yes
  • Stories: 2
  • Entry Location: Ground Level
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet, Laminate
  • Appliances: Yes
  • Entry Level: 1
  • Fireplace Features: Bath, Kitchen, Living Room
  • Levels: Two
  • Price Per Square Foot: 375.91
  • Room Type: All Bedrooms Up, Kitchen

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 8.00
  • Parking: Yes
  • Parking Features: Carport, Paved, On Site
  • Total Parking Spaces: 16.00
  • Uncovered Spaces: 8.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Range, Gas Water Heater
  • Electric: Electricity - On Property, Standard
  • Heating Type: Wall Furnace
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Dog Park, Park, Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Corner Lot
  • Lot Size Sq Ft: 12371.00
  • Lot Size Acres: 0.2840

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Scheduled Income: 160909.00
  • Lot Size Area: 12371.0000 Square Feet
  • Net Operating Income: 114239.00
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 9
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 8
  • Number With Range: 8
  • Number With Refrigerator: 8
  • Operating Expense: 46670.00
  • Rent Control: Yes
  • Total Expenses: 46669.00

Tax Info

  • Tax Census Tract: 119.04
  • Tax Lot: 114

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/08/2025 05/08/25 Sold $2,325,000 -6.1% $376 / Sq Ft
03/12/2025 03/12/25 Price Changed $2,475,000 -2.9% $400 / Sq Ft
02/14/2025 02/14/25 For Sale $2,550,000 -- $412 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • B

    Seller's Agent in 2025

    Bryan Friedman

    Berkshire Hathaway Home Servic

    (650) 704-8778

    2 in this area

    7 Total Sales

    Bryan Friedman
    Section Image

  • N

    Buyer's Agent in 2025

    NoEmail NoEmail

    NONMEMBER MRML

    (646) 541-2551

    5 in this area

    5,832 Total Sales

    NoEmail NoEmail
    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PI25034031

California Regional Multiple Listing Service (CRMLS)
California San Luis Obispo County Arroyo Grande 93420

1191 Fair Oaks Ave, Arroyo Grande, CA

This home is located at 1191 Fair Oaks Ave, Arroyo Grande, CA 93420 and is currently priced at $2,325,000, approximately $375 per square foot. This property was built in 1984. 1191 Fair Oaks Ave is a home located in San Luis Obispo County with nearby schools including Harloe Elementary School, Paulding Middle School, and Arroyo Grande High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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