1120 Locust Street, San Jose, California 95110, San Jose, 95110 - 4 bed, 2 bath
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San Jose, California 95110
This Dual-Unit Residential Property represents a High-Potential Investment Opportunity, listed at $1,075,000—positioned well below the $1,036,365 Fair Market Value by -3%. Featuring a 3.625% assumable FHA loan and a Condition Rating of 3, this home offers significant financial leverage. The versatile 2-bed/1-bath layout includes a private patio and modern interior updates, making it a standout for Buy-and-Hold Investors or first-time buyers seeking to offset housing costs through a live-in rental strategy in a prime San Jose location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1120 Locust Street Subject | $998,800* List Price | 4 | 2 | 1,474 | $680 | - |
A 1218 S Almaden Avenue Sold | $910,000 | 4 | 2 | 1,648 | $552 | 0.2 mi |
B 1078 Palm Street Sold | $1,070,550 | 3 | 2 | 1,311 | $817 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although built in 1955, the property has undergone significant interior updates. One kitchen features modern white shaker cabinetry, stone countertops, and a contemporary tile backsplash (likely renovated within the last 5-10 years). The exterior shows updated dual-pane vinyl windows and the units appear well-maintained and move-in ready, meeting the criteria for a functional, renovated multi-unit property.
The property features a rare 3.625% assumable FHA loan, providing a significant competitive advantage and lower monthly payments in a high-interest-rate market.
Configured as two separate 2-bedroom, 1-bathroom units, the layout offers excellent flexibility for rental income, house hacking, or multi-generational living arrangements.
Situated near downtown San Jose and major tech employers, the property benefits from high walkability and proximity to transit, parks, and urban amenities.
With only 1,474 total square feet divided into two units, the individual living spaces and bedrooms may feel small or constrained for some occupants.
A substantial $103,000 price reduction within the first 17 days suggests the property may have faced initial overvaluation or specific condition hurdles.
Get a belowmarket rate of 3.625% by assuming a massive below market rate loan. Gain rental income with a long term tenant in the second unit. Exceptional flexibility for multi-generational living, a live one/rent one approach, or added support for monthly housing costs. Opportunities with built in living flexibility are increasingly limited, making this home a standout option. Located near downtown San Jose, major employers, transit, parks, and everyday conveniences, this central corridor remains consistently desirable. Residents appreciate the walkability, nearby amenities, and quick access to shopping, dining, and commuter routes. Whether you're entering homeownership with added financial flexibility or seeking a property with long term upside, this home delivers meaningful value in todays market especially with the advantage of a below market assumable rate.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 4.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,474 | 1,683.5 |
| Lot Size | 4,352 | 6,300 |
| Price | $998.8K | $1.70M |
| Price per sq ft | $678 | $1000 |
| Built year | 1955 | 1966 |
| HOA | $0 | $160 |
| Days on market | 85 | 35 |
Jun 25, 2026
$998,800
$1,035,000
-3% Price Drop
Initial Listing
Jun 15, 2026
$1,035,000
$1,075,000
-4% Price Drop
Initial Listing
May 4, 2026
$1,075,000
$1,178,000
-9% Price Drop
Initial Listing
Apr 28, 2026
$1,178,000
Initial Listing
Feb 17, 2022
$1,075,000
Public Record