111 5th Street, Gilroy, California 95020, Gilroy, 95020 - 4 bed, 2 bath
Loading property details...
Gilroy, California 95020
This property presents a High-Potential Investment Opportunity with a List Price of $999,000—positioned well below the $947,445 Fair Market Value by 5%. Featuring Transitional District Zoning and a Permitted Secondary Dwelling Unit, this asset offers significant income-generating versatility. While the Condition Rating of 4 indicates dated systems typical of a 1920s build, recent capital improvements like a newer roof provide a solid foundation. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a flexible, multi-unit property in downtown Gilroy.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 111 5th Street Subject | $999,000* List Price | 4 | 2 | 2,088 | $454 | - |
A 7630 Hanna Street Sold | $805,000 | 3 | 2 | 1,519 | $530 | 0.2 mi |
B 7335 Orchard Drive Sold | $1,025,000 | 4 | 2 | 2,014 | $509 | 0.6 mi |
C 7290 Orchard Drive Sold | $1,085,000 | 5 | 3 | 2,632 | $412 | 0.6 mi |
D 7660 Carmel Street Pending | $850,000 List Price | 4 | 3 | 2,100 | $405 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
While the property features a newer roof and fresh exterior/interior paint, the core systems and finishes are dated. The kitchen and bathrooms show basic, older fixtures and cabinetry likely exceeding 20 years in age. As a 1920s build, it is functional and move-in ready but requires aesthetic and system updates to meet modern standards.
The Transitional District zoning offers exceptional versatility, allowing the property to be utilized as three residential units or a combination of professional office and residential space.
The property includes a garage converted into a permitted secondary dwelling unit with a redone interior, providing immediate rental income potential or multi-generational living options.
Key updates including a newer roof, fresh paint in the main home, and a renovated interior in the secondary unit reduce immediate maintenance costs for a new owner.
Built in 1920, the property may require ongoing maintenance or modernization of older mechanical systems typical of century-old structures despite recent cosmetic updates.
With 103 days on the market and a significant price reduction from the original $1.1M listing, the property has faced challenges in securing a buyer at its initial valuation.
Great opportunity in developing downtown Gilroy. The zoning (Transitional District) provides lots of flexabilty. This property could be 3 residential units, or an office with two residential units. The main structure has lots of room with a spacious main room with fireplace, two secondary rooms, and two sunporchs for other uses. A kitchen, laundry area and bath make this usable as an office or residential space. The back entrance of the main home is served by an easy access ramp. Upstairs is an apartment with kitchen, bath, main room and bedroom. The original garage for the home has been converted to a permitted secondary dwelling unit, with one parking space. Newer roof and fresh paint in main home and redone interior in the secondary dwelling unit. Come take a look!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 4.0 |
| Baths | 2.0 | 3.0 |
| Square foot | 2,088 | 1,983 |
| Lot Size | 5,700 | 7,000 |
| Price | $999.0K | $1.16M |
| Price per sq ft | $478 | $533 |
| Built year | 1920 | 1997 |
| HOA | $0 | $202 |
| Days on market | 110 | 44 |
Jun 6, 2026
$999,000
$1,100,000
-9% Price Drop
Initial Listing
Apr 3, 2026
$1,100,000
Initial Listing