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159 Hollywood Avenue, San Jose, California 95112, San Jose, 95112 - 6 bed, 4 bath

159 Hollywood Avenue, San Jose, California 95112 home-pic-0
ACTIVE$1,499,000
159 Hollywood Avenue, San Jose, California 95112
6Beds
4Baths
1,765Sqft
5,040Lot

Price Vs. Estimate

The estimated value ($1,378,589.17) is $120,410.83 (8%) lower than the list price ($1,499,000). This property may be overpriced.

Key pros and cons

Top Pros:
Exceptional Income Potential: The property is marketed as a 'turn-key cash cow business' with an immediate positive cash flow, boasting a 6+% CAP rate and approximately $9000/month in rental income, making it highly attractive for investors.
Top Cons:
Tenant Occupied & Restricted Access: The property is tenant-occupied with instructions not to disturb tenants and 'drive-by only' showings, which can complicate the viewing process and due diligence for potential buyers.

Compared to the nearby listings

Price:$1.50M vs avg $1.20M (+$299,000)74%
Size:1,765 sqft vs avg 1,430.5 sqft74%
Price/sqft:$849 vs avg $85550%

More Insights

Built in 1922 (103 years old).
Condition: Despite being built in 1922, the property has undergone a full and extensive renovation, as stated in the description and evidenced by the images. The main house features modern finishes, recessed lighting, new wood flooring, and updated kitchens and bathrooms with contemporary fixtures and stainless steel appliances. The detached ADU is described as 'brand new from top down' with its own modern kitchen and bath. All visible components appear new or virtually new, meeting current quality standards with no signs of deferred maintenance, aligning perfectly with the 'Excellent' condition criteria for a recently and extensively renovated property.
Year Built
1922
Close
-
List price
$1.5M
Original List price
$1.5M
Price/Sqft
$849
HOA
-
Days on market
-
Sold On
-
MLS number
ML81992086
Home ConditionExcellent
Features
Patio
ViewNeighborhood

About this home

A rare opportunity is knocking: Starting collecting rental income from Day One with a 6+% CAP rate (about $9000/m)! This is a turn-key cash cow business with immediate positive cash flow! Or live in one while the other pays your mortgage! Or embrace a multi-generational lifestyle ---- this fully renovated vintage style house with a brand new ADU delivers unparalleled flexibility. Located minutes away from Downtown San Jose, SJSU, SJC, SAP Center, shops, dining and transit. The main house (1455 sf) features 4 bed/3 full bath --- including 2 master suites and 2 separated entrances. All with modern finishes, recess lighting, wood flooring, central heating/AC plus mini-split. A large basement for extra storage. The detached ADU (310 sf) is brand new from top down, with full kitchen & bath, recess lighting, SPC flooring, mini split A/C. All done with permit. The laundry room has separate entrance. New landscaping front and back, new pavement for 4+ off-street parking. No signs, drive-by only. Please do NOT disturb the tenants. All furniture can be included.

Condition Rating
Excellent
Despite being built in 1922, the property has undergone a full and extensive renovation, as stated in the description and evidenced by the images. The main house features modern finishes, recessed lighting, new wood flooring, and updated kitchens and bathrooms with contemporary fixtures and stainless steel appliances. The detached ADU is described as 'brand new from top down' with its own modern kitchen and bath. All visible components appear new or virtually new, meeting current quality standards with no signs of deferred maintenance, aligning perfectly with the 'Excellent' condition criteria for a recently and extensively renovated property.
Pros & Cons

Pros

Exceptional Income Potential: The property is marketed as a 'turn-key cash cow business' with an immediate positive cash flow, boasting a 6+% CAP rate and approximately $9000/month in rental income, making it highly attractive for investors.
Versatile Living & Investment Options: Offers unparalleled flexibility for various lifestyles, including immediate rental income, owner-occupancy with mortgage offset, or multi-generational living due to its dual-unit setup.
Newly Built & Permitted ADU: Features a brand new, detached Accessory Dwelling Unit (ADU) with a full kitchen and bath, completed with permits, significantly enhancing the property's value, functionality, and income potential.
Extensive Modern Renovation: The main house and ADU are fully renovated with modern finishes, recess lighting, wood flooring, central heating/AC, and mini-splits, providing a contemporary and comfortable living environment.
Prime Urban Location: Strategically located minutes away from Downtown San Jose, SJSU, SJC (San Jose International Airport), SAP Center, and various shops, dining, and public transit options, offering convenience and strong rental demand.

Cons

Tenant Occupied & Restricted Access: The property is tenant-occupied with instructions not to disturb tenants and 'drive-by only' showings, which can complicate the viewing process and due diligence for potential buyers.
Age of Original Structure: Built in 1922, despite extensive renovations, the underlying older structure may present potential long-term maintenance considerations or concerns for some buyers compared to newer constructions.
Compact Living Space per Room: With 6 bedrooms and 4 bathrooms within 1765 square feet, the individual room sizes or common areas might be perceived as compact, potentially limiting spaciousness for larger families or multiple occupants.

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