557 S 10th, Grover Beach, California 93433, Grover Beach, 93433 - 2 bed, 1 bath
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Grover Beach, California 93433
This property presents a High-Potential Investment Opportunity with a List Price of $550,000—positioned well below the $574,105 Fair Market Value by 4%. This valuation gap offers $24,105 in Instant Equity. Featuring a Condition Rating of 6, the asset requires modernization but offers significant upside through its 11,326 sqft lot and Multi-Family (R2) Zoning. This rare land mass provides a blank slate for multi-unit redevelopment in a coastal market. This is an ideal acquisition for Buy-and-Hold Investors or Developers seeking to maximize density.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 557 S 10th Subject | $550,000* List Price | 2 | 1 | 912 | $630 | - |
A 818 Atlantic City Avenue Sold | $700,000 | 3 | 1 | 955 | $733 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1949, this 75-year-old property exceeds the 50-year threshold for a tear-down with no significant renovations. The listing focuses almost entirely on the 11,326 sqft lot and R2 zoning for 'multi-unit redevelopment,' while the interior shows obsolete systems like wall heaters and fluorescent lighting.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 11326, living area = 912.
The favorable Multi-Family (R2) zoning designation allows for diverse investment strategies, including multi-unit redevelopment or adding additional structures to the existing site.
Spanning 11,326 square feet, this expansive and level parcel is remarkably large for a beachside community, providing a rare footprint that far exceeds standard regional lots.
Built in 1949, the original 912-square-foot cottage is modest in size and may require significant updates or a complete overhaul to meet modern living standards.
With only one bathroom and a compact two-bedroom layout, the current residence lacks the utility and convenience required for larger families or high-end rental yields.
This single-story cottage, originally built in late 1940’s, features a straightforward 2-bedroom, 1-bathroom plus storage room. The existing home features tile flooring in the living area and kitchen, gray cabinetry, and a low-maintenance layout. The defining characteristic of this property is its large, level lot, which spans a remarkable 11,326 square feet. Finding a flat parcel of this magnitude in a beachside community is exceptionally rare, providing a footprint that drastically outsizes standard regional lots. The expansive open space surrounding the home, wide side yard, and vast rear yard offer a blank slate for potential development. Beyond the sheer size of the land, the property’s development potential is fully unlocked by its favorable Multi Family (R2) zoning designation. This zoning opens up a variety of future development pathways. Consult with the City of Grover Beach if your goal is to execute a complete multi-unit redevelopment or strategically build out across the massive parcel while keeping the original cottage, this unique property delivers the flexible zoning and rare land mass required to maximize your investment
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 912 | 1,524 |
| Lot Size | 11,326 | 5,115 |
| Price | $550.0K | $844.7K |
| Price per sq ft | $603 | $576 |
| Built year | 1949 | 1981 |
| HOA | $0 | $61 |
| Days on market | 34 | 51 |
Jun 18, 2026
$550,000
Initial Listing
Mar 16, 2017
$402,000
Public Record