1095 Grieb Drive, Arroyo Grande, California 93420, Arroyo Grande, 93420 - 2 bed, 3 bath
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Arroyo Grande, California 93420
This two-story townhome represents a Prime Investment Opportunity, listed at a List Price of $590,000—positioned well below the $603,878 Fair Market Value by 2%. This valuation gap provides $13,878 in Instant Equity. With a Condition Rating of 4, the property offers immediate rental income potential while allowing for cosmetic modernization. Located in the Lucia Mar Unified district near Ocean View Elementary, this asset is ideal for Buy-and-Hold Investors or Owner-Occupants seeking a value-add property in a central Arroyo Grande location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1095 Grieb Drive Subject | $590,000* List Price | 2 | 3 | 1,312 | $460 | - |
A 1119 James Way Sold | $600,000 | 2 | 2 | 1,320 | $455 | 0.1 mi |
B 1097 Grieb Drive Active | $590,000 List Price | 2 | 3 | 1,312 | $450 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1979, the property is over 40 years old and appears to retain most original finishes. The kitchen and bathrooms are dated, featuring 1970s-style wood cabinetry, white tile countertops with wide grout lines, and older fluorescent light boxes. While the home is functional and currently tenant-occupied, it requires cosmetic updates and modernization to meet current market standards.
The property is currently tenant-occupied for immediate rental income and offers a rare opportunity to acquire the adjoining unit, making it an ideal candidate for a multi-unit investment portfolio.
The upper-level primary suite features a private balcony, a walk-in closet, and a large en suite bathroom, providing a level of privacy and comfort that exceeds standard townhome expectations.
Situated in East Arroyo Grande with easy access to Highway 101 and shopping, the property is zoned for high-performing schools, including Ocean View Elementary which boasts an 8/10 rating.
The property has a small lot size, more than 70 percent of which is taken by its living area. lot size in square feet = 1582, living area = 1312.
Built in 1979 and lacking a specified view, the property may require cosmetic or systemic updates to compete with more modern residential offerings in the area.
With only a one-car attached garage and a compact 1,582 sqft lot, the property may present challenges for households with multiple vehicles or significant storage needs.
This two-story townhome in east Arroyo Grande offers a functional layout and a central location, making it an excellent choice for a primary residence or an investment property. The neighboring unit at 1097 Grieb is also listed for sale, offering an opportunity to own two adjoining units! The main floor features a living room centered around a gas fireplace, flowing into the kitchen and dining area. Practical amenities on this level include a walk-in pantry, a dedicated laundry room, a half bath, and direct access to an outdoor patio and one-car attached garage. The upper level contains both bedrooms for added privacy. The primary suite includes a private balcony, a walk-in closet, and a large en suite bathroom. A guest bedroom is situated near the second full bathroom, which offers a tub/shower combination and additional storage. Residents enjoy access to the community clubhouse and a location that provides proximity to shopping, gyms, and Highway 101. This low-maintenance property is currently tenant-occupied (month-to-month lease) for immediate rental income!
No exterior & parking available.
Grades K-6 • 0.8 mi
Grades 7-8 • 2.3 mi
Grades 8-12 • 2.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 4.0 |
| Baths | 3.0 | 3.0 |
| Square foot | 1,312 | 2,434.5 |
| Lot Size | 1,582 | 19,593.3 |
| Price | $590.0K | $1.15M |
| Price per sq ft | $450 | $545 |
| Built year | 1979 | 1997 |
| HOA | $246.0 | $152 |
| Days on market | 13 | 49 |
Jul 9, 2026
$590,000
Initial Listing
Aug 28, 2002
$200,000
Public Record
May 10, 1999
$130,000
Public Record