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14862 Watters Drive, San Jose, California 95127, San Jose, 95127 - 2 bed, 1 bath

14862 Watters Drive, San Jose, California 95127 home-pic-0
ACTIVE UNDER CONTRACT$1,399,888
14862 Watters Drive, San Jose, California 95127
2Beds
1Bath
1,080Sqft
67,609Lot

Price Vs. Estimate

The estimated value ($1,399,888) is $0 (0%) lower than the list price ($1,399,888). This property may be overpriced.

Key pros and cons

Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 67609, living area = 1080.
Top Cons:
Age and Condition of Existing Structures: The existing homes were built in 1946 and are small (2 beds, 1 bath each, 1080 sqft total), likely requiring substantial renovation or demolition for modern living standards or redevelopment.

Compared to the nearby listings

Price:$1.40M vs avg $1.06M (+$334,888)73%
Size:1,080 sqft vs avg 1,357 sqft29%
Price/sqft:$1.3K vs avg $80398%

More Insights

This property has been on the market for 99 days.
Built in 1946 (79 years old).
Condition: Built in 1946, the existing structures are extremely dated and in poor condition. The kitchens feature old tile countertops, basic worn cabinets, and outdated appliances, while the bathrooms have vintage fixtures, pink sinks, and old tile, all requiring substantial renovation or demolition. The listing itself identifies the 'Age and Condition of Existing Structures' as a weakness, stating they 'likely requiring substantial renovation or demolition' for modern living standards.
Year Built
1946
Close
-
List price
$1.4M
Original List price
$1.5M
Price/Sqft
$1,296
HOA
-
Days on market
99 Days
Sold On
2026-01-06
MLS number
ML82023249
Home ConditionPoor
Features
Excellent View:
Patio
View-

About this home

Incredible development opportunity with 1.5 acres of land and beautiful city views in San Joses East Foothills! This property includes two adjoining parcels (APN 601-31-062 & 601-31-061) being sold together, offering flexibility for developers, investors, or multi-generational living. Currently, the property features two separate structures: 2-bedroom, 1-bath home and another 2-bedroom, 1-bath home. Perfect for immediate rental income, extended family living, or redevelopment. Significant groundwork has already been completed toward new construction on APN 601-31-062, saving the future owner valuable time and resources. Couple steps left to obtain final building approval. New plans are for 5 bed / 3.5 bath and total living space of 2,508 sqft. Nestled in the serene San Jose foothills, this property offers quiet hillside living with easy access to freeways, shopping, schools, and downtown San Jose. With the added benefit of two parcels, the possibilities are endless expand, rebuild, or create your dream estate. Don't miss this unique chance to own a multi-parcel property with tremendous potential and permitting progress already underway!

Condition Rating
Poor
Built in 1946, the existing structures are extremely dated and in poor condition. The kitchens feature old tile countertops, basic worn cabinets, and outdated appliances, while the bathrooms have vintage fixtures, pink sinks, and old tile, all requiring substantial renovation or demolition. The listing itself identifies the 'Age and Condition of Existing Structures' as a weakness, stating they 'likely requiring substantial renovation or demolition' for modern living standards.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 67609, living area = 1080.
Development Opportunity: The property is explicitly marketed as an 'incredible development opportunity' with significant groundwork completed and plans for a new 5 bed / 3.5 bath, 2,508 sqft home, saving future owners time and resources.
Large Multi-Parcel Lot: Comprising 1.5 acres across two adjoining parcels, this offers exceptional flexibility for developers, investors, or multi-generational living in a desirable San Jose location.
Permitting Progress Underway: Significant groundwork has been completed towards new construction, with only a few steps remaining to obtain final building approval, de-risking the development process.
Scenic City Views: Nestled in the serene San Jose East Foothills, the property boasts beautiful city views, enhancing its appeal and potential future value.
Immediate Income/Flexibility: The property currently features two separate 2-bedroom, 1-bath homes, offering immediate rental income potential or flexible multi-generational living arrangements while development plans proceed.

Cons

Age and Condition of Existing Structures: The existing homes were built in 1946 and are small (2 beds, 1 bath each, 1080 sqft total), likely requiring substantial renovation or demolition for modern living standards or redevelopment.
Development Not Turnkey: While progress has been made, final building approval is still pending, meaning the buyer will need to complete the permitting process and undertake the full construction project.
Extended Days on Market & Price Reduction: With 99 days on market and a recent price reduction from $1.499M to $1.399M, it suggests the initial pricing may have been ambitious or the unique nature of the property requires a specific buyer.

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