1230 Leigh Avenue, San Jose, California 95126, San Jose, 95126 - bed, bath
ACTIVE$1,650,000
1230 Leigh Avenue, San Jose, California 95126
0Bed
0Bath
3,544Sqft
7,100Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Immediate Income & Full Occupancy: As a fully occupied 4-plex, this property offers immediate and stable rental income, providing a consistent cash flow from day one for investors.
Top Cons:
Restricted Access for Due Diligence: The instruction 'please do not disturb tenants' limits immediate interior inspection, which can complicate thorough due diligence for prospective buyers before an offer is accepted.
Compared to the nearby listings
Price:$1.65M vs avg $1.69M ($-37,500)50%
Size:3,544 sqft vs avg 3,803.5 sqft50%
Price/sqft:$466 vs avg $44550%
More Insights
Built in 1963 (62 years old).
Condition: Built in 1963, this property shows signs of being well-maintained with some interior upgrades, including hardwood floors and newer windows in some units, and updated kitchen appliances in others. However, the visible bathroom features an older vanity, dated tile, and shower doors, suggesting it has not undergone a recent, extensive renovation. The mixed flooring (hardwood and older tile) also indicates a property that is functional and clean but would benefit from minor updates to modernize its style and features, particularly in the bathrooms and potentially some kitchens.
Year Built
1963
Close
-
List price
$1.65M
Original List price
$1.65M
Price/Sqft
$466
HOA
-
Days on market
-
Sold On
-
MLS number
ML82020386
Home ConditionFair
Features
View-
About this home
1230 Leigh Ave is a 4-plex offered at $1,650,000 and is available now. This fully occupied building is well maintained and offers strong tenant appeal with several interior upgrades already in place. Some units feature updated kitchen appliances, hardwood floors, and newer windows, while the property also provides assigned parking and a shared laundry room conveniently located inside the building. With stable occupancy, this property offers immediate income and excellent long-term potential for investors looking to expand their portfolio. Drive by and take a look at the exterior, but please do not disturb tenants.
Condition Rating
Fair
Built in 1963, this property shows signs of being well-maintained with some interior upgrades, including hardwood floors and newer windows in some units, and updated kitchen appliances in others. However, the visible bathroom features an older vanity, dated tile, and shower doors, suggesting it has not undergone a recent, extensive renovation. The mixed flooring (hardwood and older tile) also indicates a property that is functional and clean but would benefit from minor updates to modernize its style and features, particularly in the bathrooms and potentially some kitchens.
Pros & Cons
Pros
Immediate Income & Full Occupancy: As a fully occupied 4-plex, this property offers immediate and stable rental income, providing a consistent cash flow from day one for investors.
Strong Investment Potential: The property is highlighted for its 'excellent long-term potential for investors looking to expand their portfolio,' indicating a promising asset for future growth and appreciation.
Well-Maintained Condition: Described as 'well maintained,' this suggests a lower likelihood of immediate, significant repair costs, contributing to a more stable investment.
Enhanced Tenant Appeal: With 'strong tenant appeal' and interior upgrades in some units (updated kitchen appliances, hardwood floors, newer windows), the property is attractive to renters, potentially leading to lower vacancy rates.
Valuable Tenant Amenities: The inclusion of assigned parking and a shared laundry room inside the building provides desirable conveniences for tenants, enhancing the property's marketability and value.
Cons
Restricted Access for Due Diligence: The instruction 'please do not disturb tenants' limits immediate interior inspection, which can complicate thorough due diligence for prospective buyers before an offer is accepted.
Age of Building: Built in 1963, the property is over 60 years old. While some upgrades are noted, older infrastructure (e.g., plumbing, electrical, roof) may require significant capital expenditures in the future.
Lack of Financial Transparency: The listing description does not provide current rental income, expenses, or a cap rate, which are critical financial metrics for an investment property and necessitate further investigation by potential buyers.