111 5th Street, Gilroy, California 95020, Gilroy, 95020 - 4 bed, 2 bath
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Gilroy, California 95020
This Multi-Unit Value-Add Asset is listed at $1,100,000, offering rare versatility within downtown Gilroy’s Transitional District. While positioned above the $956,772 Fair Market Value, the property provides significant utility with three distinct living areas, including a Permitted Secondary Dwelling Unit. Holding a Condition Rating of 4, the residence features a Newer Roof and fresh paint, though kitchens and baths await modernization to maximize ROI. Situated in the Gilroy Unified district, this high-income potential site is a strategic acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a versatile live-work or multi-generational sanctuary.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 111 5th Street Subject | $1,100,000* List Price | 4 | 2 | 2,088 | $458 | - |
A 7630 Hanna Street Sold | $805,000 | 3 | 2 | 1,519 | $530 | 0.2 mi |
B 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.
Built in 1920, this property is well-maintained with a newer roof and fresh interior paint, but the kitchen and bathrooms are significantly dated (likely >20 years) and require modernization. While the secondary dwelling unit has been redone and the structure appears functional, the main house systems and finishes are aged and do not meet modern 'Good' or 'Excellent' standards.
Located in a Transitional District, this property offers rare versatility for use as three residential units, a professional office, or a hybrid live-work space in a developing downtown area.
The property features a main house, an upstairs apartment, and a permitted secondary dwelling unit (SDU), providing multiple streams of rental income or multi-generational living options.
With a newer roof, fresh paint in the main home, and a fully redone interior in the secondary dwelling unit, the property reduces immediate maintenance concerns for a new owner.
Built in 1920, the property may possess aging plumbing, electrical, or foundation systems common in century-old structures that could require future investment beyond the recent cosmetic updates.
Despite the potential for high occupancy across three units or commercial office use, the property mentions only one dedicated parking space, which may be insufficient for tenants or clients.
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 | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 2.0 | 3.0 | 37% |
| Square foot | 2,088 | 2,150 | 46% |
| Lot Size | 5,700 | 6,820 | 21% |
| Price | $1.10M | $1.12M | 47% |
| Price per sq ft | $527 | $527 | 50% |
| Built year | 1920 | 1997 | 3% |
| HOA | $0 | $0 | 50% |
| Days on market | 64 | 123 | 12% |
Apr 3, 2026
$1,100,000
Initial Listing