270 Walnut Street Zoned Multifamily! Located in the heart of Arroyo Grande, this versatile property offers a rare opportunity featuring a primary residence and a detached guest unit on an expansive 20, 954 sq ft lot, delivering space, flexibility, and strong long-term upside potential. The main home features 2 bedrooms and 1 bathroom, along with an attached 1-car garage. The residence is well-maintained and offers a functional floor plan with a comfortable flow between living areas. Interior highlights include hardwood flooring, abundant natural light from large windows, and a spacious living room centered around a freestanding wood-burning stove, creating a warm and inviting atmosphere. The kitchen and dining areas connect seamlessly to the main living space, providing practical everyday functionality. The exterior presents clean curb appeal with an updated window package and a well-kept front yard. The large, level lot offers exceptional usability and flexibility for outdoor living, entertaining, expansion, or future improvements. A detached guest unit includes 1 bedroom and 1 bathroom, offering excellent versatility for rental income, extended family, or a private workspace. This additional unit significantly enhances the property’s overall utility and value proposition. Set on nearly half an acre, the property’s oversized lot is one of its most compelling features, providing ample room for potential enhancements, outdoor amenities, or future development opportunities subject to local zoning and regulations. Overall, this property combines livability with strong upside potential. It is move-in ready while still offering clear opportunities for customization and value-add improvements. The combination of a primary home, detached guest unit, and large usable lot makes this a standout opportunity for both owner-occupants and investors seeking flexibility and long-term growth. Call or text Rob Rose at 805-471-8351 with any questions or to schedule a showing.