
San Jose, California 95118
This 4-unit High-Potential Investment Opportunity is listed at $1,588,000, positioned well below the $1,619,990 Fair Market Value by 1%, offering $31,990 in Instant Equity. Featuring a Condition Rating of 4, the property includes one newly remodeled unit alongside three vintage units, providing immediate value-add potential. With private balconies/yards and covered parking, this asset ensures strong tenant retention near major tech corridors. This is a prime acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a strategic, income-generating property in San Jose.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1179 Mesa Drive Subject | $1,588,000* List Price | 0 | 0 | 3,364 | $482 | - |
A 5702 Tucson Dr Sold | $1,750,000 | 0 | 0 | 3,364 | $520 | 0.1 mi |
B 5718 Tucson Drive Active | $1,799,888 List Price | 0 | 0 | 3,364 | $535 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1963, this 4plex features one newly remodeled unit with modern flooring and paint. However, the remaining units are likely dated, and the presence of older wall heaters indicates that the primary HVAC systems have not been fully modernized. The exterior and carports show age consistent with a 60-year-old property needing some systemic updates.
Situated near Almaden Plaza and major tech corridors, the property offers tenants exceptional access to retail and commuting routes, ensuring high rental demand.
With one unit newly remodeled, an investor can achieve immediate market-rate cash flow or an owner-occupant can move in without additional renovation costs.
Each 2-bedroom unit includes private outdoor space and covered parking, which are premium amenities that drive long-term tenant retention.
Built in 1963, the property may require significant capital improvements to aging systems and the three non-remodeled units to remain competitive.
A recent price reduction after 26 days on the market indicates potential overvaluation or buyer concerns regarding the current cap rate or property condition.
1179 Mesa Dr is a 4-unit investment opportunity located in a desirable San Jose neighborhood. This 4plex features a unit mix of spacious 2-bedroom/1-bathroom floorplans. A standout feature of this asset is that one unit is newly remodeled, presenting a unique opportunity for an owner-occupant buyer to move right in, or for an investor to instantly maximize cash flow by placing a tenant at full market rent. The property features functional layout designs where each unit enjoys its own private balcony or yard space. Residents benefit from dedicated covered carport parking and comfortable amenities that heavily support long-term tenant retention. Strategically located just blocks from Almaden Plaza and Whole Foods, 1179 Mesa Dr offers tenants a highly convenient lifestyle surrounded by a wide range of premier retail, dining, and everyday conveniences. The property's excellent location features easy access to major corridors like Almaden Expressway and Highway 85, providing a seamless commute to major Silicon Valley tech hubs and making this a prime acquisition for buyers seeking the perfect balance of current income, flexibility, and long-term appreciation.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 3,364 | 2,552 |
| Lot Size | 7,130 | 7,370 |
| Price | $1.59M | $1.54M |
| Price per sq ft | $472 | $655 |
| Built year | 1963 | 1961 |
| HOA | $366.0 | $0 |
| Days on market | 28 | 50 |
Jul 20, 2026
$1,588,000
$1,625,000
-2% Price Drop
Initial Listing
Jun 24, 2026
$1,625,000
Initial Listing
Nov 17, 2017
$1,390,000
Public Record
Jan 29, 2014
$910,000
Public Record
Mar 1, 2004
$725,000
Public Record
Feb 20, 1997
$289,000
Public Record