
San Martin, California 95046
This Multi-Unit Income Estate represents a Strong Value Opportunity, listed at $2,200,000—positioned above the $2,053,812 Fair Market Value. While priced at a premium, the property offers exceptional utility through its 2.4-acre lot, 4-bedroom main residence, and three additional rental units. With a Condition Rating of 3, the home features modern interior updates and a premier outdoor kitchen. This asset is perfectly suited for Buy-and-Hold Investors seeking diversified cash flow or Owner-Occupants looking for a versatile family compound with significant rental income potential.
Property is move-in ready.
Although built in 1976, the property has undergone significant interior renovations including updated hardwood and LVP flooring, recessed lighting, and modernized bathrooms with contemporary vanities and tiling. The presence of solar panels and a well-maintained, extensive outdoor kitchen and entertaining area indicates the home is functional and move-in ready.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 105900, living area = 2272.
The property offers multiple revenue streams, including two 2-bedroom residences, a separate studio, and land currently leased for RV and mobile-home use, providing significant cash flow opportunities.
The 2.4-acre lot features a sophisticated backyard oasis equipped with a covered living area, bar, BBQ, brick oven, and gazebo, making it a standout choice for hosting large-scale events.
The complexity of managing multiple rental units and land leases for RVs requires significant landlord oversight and ongoing tenant management.
Built in 1976, the main residence and secondary structures may require capital investment for cosmetic updates or system modernizations to meet contemporary luxury standards.
Rare 2.4-acre opportunity offering space, versatility, and multiple income-producing possibilities! The main home features 4 bedrooms and 3 bathrooms, plus a separate studio with a full bathroom. An additional structure offers two 2-bedroom, 1-bathroom residences, providing rental income, while portions of the land are also currently rented for RV and mobile-home use. The beautifully landscaped backyard is an entertainer's dream, featuring a large covered outdoor living area, bar, BBQ area, wood-burning and gas stoves, and a brick oven. Multiple patios, a gazebo, lush landscaping, mature trees, and generous open space provide the perfect setting for family gatherings, celebrations, and special events. With multiple living spaces, rental opportunities, abundant parking, and 2.4 acres to enjoy, this property offers an exceptional combination of lifestyle and income potential.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 3.5 |
| Baths | 2.0 | 3.0 |
| Square foot | 2,272 | 1,767.5 |
| Lot Size | 105,900 | 31,173 |
| Price | $2.20M | $1.88M |
| Price per sq ft | $968 | $863 |
| Built year | 1976 | 1964 |
| HOA | $0 | $0 |
| Days on market | 15 | 33 |
Aug 25, 2026
$2,200,000
Initial Listing
May 18, 2022
$1,600,000
Public Record
Apr 1, 2005
$187,500
Public Record
Mar 31, 2000
$618,000
Public Record
Oct 15, 1999
$400,000
Public Record