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Cindy Blankenburg

Blankenburg Properties

Arroyo Grande, CA 93420

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Listing 1 out of 1
$6,990,000 For Sale

228 W Grand Avenue
Grover Beach, CA 93433

22 units | Multi Family Home
0.92 acres - MLS# SP19124004
Property Photo


Unique investment opportunity! 22 separate units including 7 Commercial and 15 Residential. Zoned for vacation rentals with the potential to split into condos. Located just a few minutes from the beach and public transportation. Consisting of ten 2 bedroom units, three 1 bedroom, one 3 bedroom and one 4 bedroom unit. Various floor plans, some with office space, one unit has it's own laundry room, plus a shared coin-op laundry and most units have decks with ocean views. Also included with the commercial units are 3 garages and a patio. All units are currently leased at $38,129 per month per the rent roll. Great location next to the train station, walking distance to restaurants, and just minutes to the beach! These kind of properties do not come up for sale often, don't let this opportunity pass you by!


  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Active
  • Zip Code: 93433
  • Year Built: 2004
  • Subdivision/Neighborhood: North Grover Beach(350)
  • Stories: Three Or More
  • Units: 22 units
  • # of Parking Spaces: 3.00
  • Lot Size: 0.92 acres
  • Zoning: CCV
  • Area: GRVC - Grover Beach
  • Average 2 Bed Area Units: Square Feet
  • Average 3 Bed Area Units: Square Feet
  • Average Studio Area Units: Square Feet
  • Building Area Total: 24944.00
  • Building Area Units: Square Feet
  • Common Walls: 2+ Common Walls
  • Community Features: Curbs, Gutters, Sidewalks, Street Lights
  • Country: US
  • Directions: Hwy 1 to W Grand or N 4th St to W Grand
  • Electric Expense: 2390.00
  • Fuel Expense: 509.00
  • Garage Spaces: 3.00
  • Gardener Expense: 6780.00
  • Gross Income: 443029.00
  • Gross Scheduled Income: 443029.00
  • Insurance Expense: 12000.00
  • Laundry Features: Individual Room
  • Laundry YN: Yes
  • Listing Agent License: 01111911
  • Listing Office License: 01971268
  • Lot Features: Level with Street, Irregular Lot, Near Public Transit
  • Lot Size Area: 40075.0000
  • Lot Size Source: Assessor
  • Lot Size Units: Square Feet
  • MLS: CRM
  • Net Operating Income: 273510.00
  • New Taxes Expense: 71000.00
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 23
  • Number Of Separate Gas Meters: 23
  • Number Of Separate Water Meters: 23
  • Operating Expense: 169519.00
  • Parking Features: Asphalt, Public
  • Parking YN: Yes
  • Property Attached YN: Yes
  • Sewer: Public Sewer
  • Total Expenses: 169519.00
  • Trash Expense: 3897.00
  • Water Sewer Expense: 3194.00
  • Water Source: Public
  • Year Built Source: Assessor
Courtesy of Re/Max Del Oro, Hal Sweasey

Blankenburg Properties
127 E. Branch St
Arroyo Grande, CA 93420
Phone: 805-481-1019


Huge thanks to Cindy, and Blankenburg properties!!! I have known Cindy for 40 plus years, so when we decided to buy a home in the five cities area we knew Cindy was our gal. Her professional approach, and knowledge of the area were key to finding us a property we love!!
Cindy listened when we described what we were looking for, and the home we purchased was the fourth property she showed us!! She heard all of our requests, including my dream to have a white picket fence!!
I would recommend Blankenburg Properties, and Cindy, to help you with all your real estate needs.
Whether buying or selling, Cindy's expertise and knowledge of our area is a huge bonus!!
Thank you Cindy for helping make our dreams come true!!!
Karla and Kent
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