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1182 Leigh, San Jose, California 95126, San Jose, 95126 - bed, bath

1182 Leigh, San Jose, California 95126 home-pic-0
ACTIVE$1,899,999
1182 Leigh, San Jose, California 95126
0Bed
0Bath
3,500Sqft
7,159Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Turnkey Investment & Recent Renovations: This fully renovated 4-plex offers a rare turnkey investment opportunity with all four units recently upgraded with modern finishes and durable, low-maintenance flooring, minimizing immediate capital expenditure for the new owner.
Top Cons:
Age of Building Infrastructure: While units are renovated, the property was built in 1963, meaning the core building infrastructure (e.g., plumbing, electrical outside of units, roof) is over 60 years old and may require future capital expenditures not covered by recent interior upgrades.

Compared to the nearby listings

Price:$1.90M vs avg $1.81M (+$87,499.5)50%
Size:3,500 sqft vs avg 3,781.5 sqft50%
Price/sqft:$543 vs avg $48450%

More Insights

Built in 1963 (62 years old).
Condition: The property, built in 1963, has undergone recent interior renovations as described, making the units move-in ready. Images show updated laminate flooring, new bathroom vanities, and clean, functional kitchens. While some kitchen appliances are older white models, cabinets are traditional, and window AC units are present, the overall interior condition is well-maintained and suitable for a rental property, aligning with the 'Good' score criteria for recent renovations and minimal immediate maintenance.
Year Built
1963
Close
-
List price
$1.9M
Original List price
$1.9M
Price/Sqft
$543
HOA
-
Days on market
-
Sold On
-
MLS number
ML82014766
Home ConditionGood
Features
View-

About this home

Welcome to a rare turnkey investment in the heart of San Jose. This fully renovated 4 plex spans approximately 3,500 square foot and sits on a large 7,159 square foot lot, offering excellent income potential, long term upside, and minimal maintenance from day one. All four units have been recently upgraded with modern finishes and durable, low maintenance flooring, creating clean, attractive living spaces that appeal to quality tenants. Each unit is currently rented at market rates, ensuring immediate cash flow. The property is SB721 compliant, with permits and inspections fully approved by the City of San Jose, saving you time and future capital expense. Additional features include coin operated laundry with Shine Pay, generating passive income, and a towing contract to ensure parking remains reserved for tenants, a rare and valuable amenity in this area. Located near major freeways, shopping centers, public transit, and tech employers, this asset offers exceptional tenant demand and long term appreciation. With a strong CAP rate, stable occupancy, and pride of ownership condition, this is the kind of multifamily opportunity investors wait for and it wont last long.

Condition Rating
Good
The property, built in 1963, has undergone recent interior renovations as described, making the units move-in ready. Images show updated laminate flooring, new bathroom vanities, and clean, functional kitchens. While some kitchen appliances are older white models, cabinets are traditional, and window AC units are present, the overall interior condition is well-maintained and suitable for a rental property, aligning with the 'Good' score criteria for recent renovations and minimal immediate maintenance.
Pros & Cons

Pros

Turnkey Investment & Recent Renovations: This fully renovated 4-plex offers a rare turnkey investment opportunity with all four units recently upgraded with modern finishes and durable, low-maintenance flooring, minimizing immediate capital expenditure for the new owner.
Strong Income & Cash Flow: The property boasts excellent income potential with all units currently rented at market rates, ensuring immediate cash flow, stable occupancy, and a strong CAP rate.
Prime San Jose Location: Strategically located in the heart of San Jose, near major freeways, shopping centers, public transit, and tech employers, ensuring exceptional tenant demand and long-term appreciation.
Regulatory Compliance & De-risked Investment: The property is SB721 compliant with all permits and inspections fully approved by the City of San Jose, significantly de-risking the investment and saving future capital expense.
Additional Income & Tenant Amenities: Features include coin-operated laundry with Shine Pay for passive income and a towing contract to ensure reserved tenant parking, adding value and convenience for residents.

Cons

Age of Building Infrastructure: While units are renovated, the property was built in 1963, meaning the core building infrastructure (e.g., plumbing, electrical outside of units, roof) is over 60 years old and may require future capital expenditures not covered by recent interior upgrades.
Limited Unit Specifics: The description lacks detailed information on individual unit configurations (e.g., number of bedrooms/bathrooms, specific square footage per unit), which is crucial for a comprehensive assessment of rental market appeal and potential rent growth.
Unspecified Parking Capacity: Although a towing contract is in place to reserve parking, the description does not specify the number of dedicated parking spaces available per unit, which could be a concern for tenants in a dense urban area like San Jose.

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