1816 Luby Drive, San Jose, California 95133, San Jose, 95133 - bed, bath
ACTIVE$1,200,000$2,724/sqft
1816 Luby Drive, San Jose, California 95133
0Bed
0Bath
2,724Sqft
9,452Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Income-Generating Asset: As a triplex, this property offers multiple rental units, providing diversified income streams and strong cash flow potential for investors.
Top Cons:
Substantial Association Fee: The high monthly association fee of $968 significantly impacts the property's net operating income and overall investment returns, requiring careful financial analysis.
Compared to the nearby listings
Compared against 0 nearby listings
More Insights
Built in 1988 (38 years old).
Condition: Built in 1988, the property's interior, especially the kitchen and bathrooms, shows significant signs of being outdated. The kitchen features older wood cabinets, laminate countertops, white appliances, and dated tile flooring and fluorescent lighting. Bathrooms have similar dated vanities, countertops, and Hollywood strip lighting. While functional, these areas require minor to substantial updates to meet current aesthetic and quality standards. The exterior also shows wear and tear, indicating a lack of recent major renovations.
Year Built
1988
Close
-
List price
$1.2M
Original List price
$1.49M
Price/Sqft
$441
HOA
$968
Days on market
-
Sold On
-
MLS number
ML81999118
Home ConditionFair
Features
Deck
Patio
View-
About this home
J
John K Pham
Listing Agent
Condition Rating
Fair
Built in 1988, the property's interior, especially the kitchen and bathrooms, shows significant signs of being outdated. The kitchen features older wood cabinets, laminate countertops, white appliances, and dated tile flooring and fluorescent lighting. Bathrooms have similar dated vanities, countertops, and Hollywood strip lighting. While functional, these areas require minor to substantial updates to meet current aesthetic and quality standards. The exterior also shows wear and tear, indicating a lack of recent major renovations.
Pros & Cons
Pros
Income-Generating Asset: As a triplex, this property offers multiple rental units, providing diversified income streams and strong cash flow potential for investors.
Prime Location: Located in San Jose, California, a highly desirable and economically robust market, ensuring strong rental demand and potential for long-term appreciation.
Significant Price Adjustment: The substantial price reduction from $1,485,000 to $1,200,000 indicates a motivated seller and presents a potential opportunity for a favorable acquisition price.
Generous Lot Size: The 9,452 sqft lot provides ample outdoor space, a valuable amenity for tenants, and potential for future landscaping or development (subject to local zoning).
Relatively Modern Construction: Built in 1988, the property is newer than many multi-family units in the area, potentially reducing immediate capital expenditure needs compared to much older buildings.
Cons
Substantial Association Fee: The high monthly association fee of $968 significantly impacts the property's net operating income and overall investment returns, requiring careful financial analysis.
Initial Overpricing/Market Resistance: The considerable price drop from the original list price suggests the property may have been initially overpriced or faced market resistance, potentially indicating perceived value issues or a longer sales cycle.
Undefined School District: The 'Other' designation for the high school district lacks specific information, which could be a deterrent for family-oriented tenants or buyers prioritizing school quality and local amenities.