1566 Stokes Street, San Jose, California 95126, San Jose, 95126 - bed, bath
ACTIVE$1,850,000
1566 Stokes Street, San Jose, California 95126
0Bed
0Bath
3,328Sqft
8,806Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Recent Capital Improvements: Extensive recent upgrades including a new roof (2020), new balconies (SB 721 compliant), and new exterior paint (2023), reducing immediate capital expenditure for the buyer.
Top Cons:
Required Renovation for Full Potential: Only the owner's unit is remodeled; the 2-bedroom and 1-bedroom units require renovation to achieve higher market rents, necessitating additional capital investment and project management from the buyer.
Compared to the nearby listings
Price:$1.85M vs avg $1.79M (+$62,500)50%
Size:3,328 sqft vs avg 3,695.5 sqft50%
Price/sqft:$556 vs avg $49050%
More Insights
Built in 1963 (62 years old).
Condition: The property, built in 1963, presents a mixed condition. While the exterior has seen significant recent updates (new roof 2020, new paint 2023, new balconies), and the 3 bed/2.5 bath owner's unit is described as 'completely remodeled' (suggesting excellent condition for that specific unit), the listing explicitly states that the remaining three units require renovation to achieve higher rents. This indicates that the majority of the property's units are outdated in terms of kitchen, bathroom, and overall interior features, requiring substantial updates rather than minor repairs. Therefore, the overall condition is 'Fair' as it's aged but partially maintained, with major components in some units showing signs of being outdated and needing significant investment to reach modern standards.
Year Built
1963
Close
-
List price
$1.85M
Original List price
$1.85M
Price/Sqft
$556
HOA
-
Days on market
-
Sold On
-
MLS number
ML82010478
Home ConditionFair
Features
View-
About this home
Arguably the nicest fourplex currently on the market in San Jose! Come see for yourself! New roof 2020. SB 721 is complete - new balconies with new handrails. New exterior paint 2023. "Owners" unit, the 3 bed 2.5 bath, is completely remodeled. Excellent location near the Los Gatos Creek Trail. Minutes from Valley Fair, Santa Row and Ebay world HQ. 1566 Stokes Street consists of (1) 3 bed / 2.5 bath, (1) 2 bed / 1 bath, and (2) 1 bed / 1 bath. Significant upside as the 2-bedroom and 1-bedroom units can be renovated to achieve significantly higher rents. Residents enjoy amenities such as on-site parking in a gated lot and on-site laundry. The location is also a key highlight as it's next to several major streets and transit hubs, while located between numerous centers of economic activity. This is a tremendous opportunity for an investor to acquire a property in the heart of Silicon Valley.
Condition Rating
Fair
The property, built in 1963, presents a mixed condition. While the exterior has seen significant recent updates (new roof 2020, new paint 2023, new balconies), and the 3 bed/2.5 bath owner's unit is described as 'completely remodeled' (suggesting excellent condition for that specific unit), the listing explicitly states that the remaining three units require renovation to achieve higher rents. This indicates that the majority of the property's units are outdated in terms of kitchen, bathroom, and overall interior features, requiring substantial updates rather than minor repairs. Therefore, the overall condition is 'Fair' as it's aged but partially maintained, with major components in some units showing signs of being outdated and needing significant investment to reach modern standards.
Pros & Cons
Pros
Recent Capital Improvements: Extensive recent upgrades including a new roof (2020), new balconies (SB 721 compliant), and new exterior paint (2023), reducing immediate capital expenditure for the buyer.
Remodeled Owner's Unit: The 3 bed / 2.5 bath owner's unit is completely remodeled, offering a premium living space or setting a high standard for future renovations.
Prime Silicon Valley Location: Strategically located near major tech employers (Ebay world HQ), retail hubs (Valley Fair, Santa Row), transit, and recreational trails (Los Gatos Creek Trail), ensuring strong tenant demand.
Significant Value-Add Opportunity: Explicit mention of 'significant upside' through renovation of the 2-bedroom and 1-bedroom units to achieve substantially higher rents, appealing to investors seeking to increase cash flow.
Desirable On-Site Amenities: Property includes sought-after tenant amenities such as on-site parking in a gated lot and on-site laundry, enhancing tenant satisfaction and marketability.
Cons
Required Renovation for Full Potential: Only the owner's unit is remodeled; the 2-bedroom and 1-bedroom units require renovation to achieve higher market rents, necessitating additional capital investment and project management from the buyer.
Age of Property (Potential for Systemic Issues): Built in 1963, despite recent exterior updates, the internal systems (e.g., plumbing, electrical) in the non-remodeled units may be original or outdated, potentially leading to unforeseen maintenance costs.
Deferred Income Growth: The 'significant upside' in rents is contingent on future renovations, meaning immediate cash flow from the un-renovated units may be below market potential, requiring patience and upfront investment before full income realization.