
Arroyo Grande, California 93420
This Multi-Generational Hilltop Estate is a Prime Investment Opportunity, listed at $1,160,000—positioned well below the $1,185,547 Fair Market Value by 2%. This valuation gap offers $25,547 in Instant Equity. While the property holds a Condition Rating of 4 and requires modernization, it features a permitted secondary unit and a 20,050 sq. ft. lot with scenic hill views. Located in the Lucia Mar Unified district near the Village, it offers immense value-add potential. This is an ideal acquisition for Owner-Occupants or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 571 S Traffic Way Subject | $1,160,000* List Price | 4 | 4 | 2,475 | $479 | - |
A 244 James Way Sold | $1,060,000 | 4 | 3 | 2,084 | $509 | 1.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property is functional and appears well-maintained but is significantly dated, reflecting styles from the 1980s and 1990s. The kitchen features older oak cabinetry, fluorescent box lighting, and tiled countertops with wide grout lines, while the bathrooms contain aged fixtures and glass block accents. With a primary build date of 1949 and an addition from 1985, the home shows clear signs of aesthetic obsolescence and requires modernization of its flooring, appliances, and fixtures 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 = 20050, living area = 2475.
The property features a structurally permitted secondary living space above the garage with a private entrance, kitchen, and bedroom, offering excellent potential for rental income or guest quarters.
Set on nearly half an acre, this elevated lot provides exceptional privacy, mature fruit trees, and scenic hill views while maintaining walkability to the Village of Arroyo Grande.
The home and grounds require substantial modernization and improvements, which will necessitate additional capital investment beyond the purchase price.
Due to the age of the property and the 1985 addition, buyers must conduct thorough due diligence to verify all permits and current allowed uses with the city.
This charming hilltop Arroyo Grande property, set on nearly half an acre, offers privacy, space, and timeless appeal. Built in 1949, this unique property features a welcoming interior and presents a rare opportunity for creative vision and improvement. Featuring 3 bedrooms and 3 baths in the main home, you'll enjoy ample living and dining areas, an indoor mudroom/dedicated laundry room, and a large basement providing valuable storage and flexible use space. Classic architectural details and original built-ins contribute to the home's enduring character. Above the attached 2-car garage is a structurally permitted space built in 1985 with a private entrance and beautiful views. The area includes a kitchen, spacious living area, bedroom, and bathroom and offers flexible use potential. Buyer to verify all permits and allowed uses with the city. The expansive grounds feature mature fruit trees and ample outdoor space, creating a peaceful setting with room for gardening, recreation, or future possibilities. The elevated location provides a pleasant vantage point while maintaining convenient access to Highway 101 and walkability to the Village of Arroyo Grande. While the home and lot would benefit from updates and improvements, this presents an excellent opportunity to enhance the residence and unlock additional value to a unique property. Opportunities like this are increasingly rare in today's market - schedule your private showing today! PROPERTY SHOWN BY APPOINTMENT ONLY - ACCESS PERMITTED WITH LICENSED AGENT AND CONFIRMED SHOWING ONLY.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 66% |
| Baths | 4.0 | 3.0 | 80% |
| Square foot | 2,475 | 2,125 | 64% |
| Lot Size | 20,050 | 10,101 | 65% |
| Price | $1.16M | $1.15M | 50% |
| Price per sq ft | $469 | $537 | 26% |
| Built year | 1949 | 1990 | 7% |
| HOA | $0 | $0 | 50% |
| Days on market | 60 | 169 | 9% |
Feb 21, 2026
$1,160,000
Initial Listing