THE OPPORTUNITY to purchase a rare combination: a fully renovated, income-producing home on nearly an acre, paired with genuine long-term development upside. The property holds 1 of only 90 vacation rental licenses permitted in the City of Arroyo Grande — fully transferable to the new owner — and previously held full entitlements for “East Grand Village,” a 24-unit two-bedroom condominium project plus 2 commercial units, making this a compelling hold for an owner-occupant, income investor, or developer alike.