
Arroyo Grande, California 93420
This Spacious Rural Estate represents a High-Potential Investment Opportunity, listed at $1,749,000—positioned above the $1,657,727 Fair Market Value. While the property requires modernization due to its Condition Rating of 4, the 5-acre parcel and permitted 876-square-foot ADU provide significant value-add potential. The estate offers rare flexibility for multi-generational living or agricultural use within the Lucia Mar Unified school district. This property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking to renovate a unique, high-utility asset in East Arroyo Grande.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1403 Noyes Road Subject 4 bd · 6 ba · 4,450 sqft · $369 | $1,699,000* List Price | 4 | 6 | 4,450 | $369 | - |
A 330 East Ormonde Road Sold 5 bd · 3 ba · 3,479 sqft · $489 · 0.4 mi | $1,700,000 | 5 | 3 | 3,479 | $489 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1988 and largely in original condition, the home is well-maintained but dated. The kitchen and bathrooms feature original oak cabinetry, tile/Corian countertops, and brass fixtures that are over 35 years old, requiring modernization to meet current market standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 218757, living area = 4450.
The property features a fully permitted 876-square-foot ADU above a detached three-car garage, offering excellent potential for rental income, guests, or multi-generational living.
Set on approximately 5 mostly level and fully fenced acres, the land provides rare flexibility for equestrian use, 4-H projects, or additional agricultural structures.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =218757, other record lot size in square feet = 218671. Living area discrepancy between mls listing and other public or private record. mls listing living area = 4450, other record living area = 3574. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
Built in 1988 and retaining much of its original character, the home will likely require a significant capital investment for modern cosmetic updates and renovations.
Managing a five-acre parcel with water storage tanks, a seasonal spring, and multiple large structures requires substantial ongoing maintenance and property management.
NEW PRICE! Welcome to your own slice of country living in East Arroyo Grande! Set on approximately 5 mostly level, fully fenced acres just off Noyes Road, this special property features a charming 3,574-square-foot main home plus a 876-square-foot 1-bedroom, 1-bath ADU above the detached 3-car garage—offering exceptional flexibility for multi-generational living, guests, rental income, or simply having space for those you love. With its idyllic setting, original character, and incredible potential, this is a rare opportunity to create the lifestyle you’ve been dreaming about. Built in 1988 and retaining its original charm, the two-story traditional home offers a wonderful opportunity to update and personalize while preserving its timeless character. A wrap-around porch, charming shutters, tile roof, high ceilings, hardwood floors, recessed lighting, and abundant windows create a warm and inviting feel. Upstairs are 3 bedrooms plus an office, including a spacious guest suite with walk-in closet and guest bath. The primary suite offers a private retreat with its own deck, fireplace, and primary bath featuring dual sinks, walk-in shower, soaking tub, and a large walk-in closet. The main level features a living room with fireplace and tall windows, a family room with fireplace, built-ins and French doors opening to the porch, plus a formal dining room with French doors. The charming kitchen offers custom cabinetry, Corian countertops, wood-block center island, double ovens and a cozy breakfast nook. An indoor laundry room with utility sink and abundant cabinetry adds convenience. Above the 3-car garage, the fully permitted ADU provides additional versatility, while the garage itself includes a half bath and additional washer/dryer hookups. Outside, the mostly flat acreage offers room to bring your vision to life. Mature fruit trees, multiple access gates, a front security gate, seasonal spring toward the rear, and water storage tanks are already in place. There is plenty of space for horses, 4-H animals, gardens, a pole barn, additional structures, or other possibilities, subject to County approval. Enjoy the peaceful rural feel while remaining close to medical facilities, shopping, restaurants, schools, equestrian facilities, wineries, and convenient back-road access to San Luis Obispo. A rare combination of acreage, versatility, character, and opportunity awaits.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 3.5 |
| Baths | 6.0 | 2.8 |
| Square foot | 4,450 | 2,290.855 |
| Lot Size | 218,757 | 17,332.316 |
| Price | $1.70M | $1.21M |
| Price per sq ft | $382 | $575 |
| Built year | 1988 | 1994 |
| HOA | $0 | $155 |
| Days on market | 23 | 46 |
Oct 21, 2026
$1,699,000
$1,749,000
-3% Price Drop
Initial Listing
Oct 1, 2026
$1,749,000
Initial Listing