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194 4th Street, Gilroy, California 95020, Gilroy, 95020 - 4 bed, 4 bath

194 4th Street, Gilroy, California 95020 home-pic-0
ACTIVE$1,249,999
194 4th Street, Gilroy, California 95020
4Beds
4Baths
2,264Sqft
7,777Lot
Year Built
1900
Close
-
List price
$1.25M
Original List price
$1.25M
Price/Sqft
$552
HOA
-
Days on market
-
Sold On
-
MLS number
ML82019293
Home ConditionExcellent
Features
Good View:
View-

About this home

Possibly Over-Priced:The estimated price is 9% below the list price. We found 3 Cons,5 Pros. Rank: price - $1.25M(58th), sqft - 2264(43th), beds - 4(50th), baths - 4(80th).

Rare Victorian single story home with two fully remodeled units. Both units A & B are included with the sale and are 1,132 sqft each sharing a backyard space. Open concept layout with jaw dropping kitchens, bathrooms, and luxury finishes throughout! Live in one while renting out the second unit to offset your mortgage, or enjoy the additional space with enough room for growing families! One block away from the trendy downtown Gilroy, walking distance to shops, restaurants, parks and minutes away from the famous Outlets for anyone that enjoys shopping! Unicorn properties like these offer tons of potential for anyone looking to grow equity or add cash flow to your current portfolio. Complete hidden gem, move-in ready with market potential to rent out at $3100-$3400 per unit in a neighborhood that is constantly evolving! Not a property you want to miss. Photos are of Unit A only.

Price History

Date
Event
Price
08/26/25
Listing
$1,249,999
Condition Rating
Excellent
Despite the 1900 build year, the property has undergone a comprehensive and recent 'jaw dropping' renovation, as evidenced by the modern, high-end kitchens with new stainless steel appliances, recessed lighting, and stylish backsplashes, as well as the luxurious bathrooms featuring freestanding tubs, glass-enclosed showers with herringbone tile, and contemporary fixtures. All visible components appear new or virtually new, aligning with current quality standards and making the property move-in ready with no deferred maintenance.
Pros & Cons

Pros

Dual Income Potential: The property features two fully remodeled units, offering significant rental income potential ($3100-$3400 per unit) to offset mortgage costs or provide substantial cash flow for investors.
Extensive Modern Renovation: Both units boast 'jaw dropping kitchens, bathrooms, and luxury finishes throughout' with an 'open concept layout,' ensuring a move-in ready condition and high aesthetic appeal.
Prime Downtown Location: Strategically located 'one block away from the trendy downtown Gilroy,' providing excellent walkability to shops, restaurants, parks, and close proximity to the famous Outlets.
Unique Victorian Charm: A 'Rare Victorian single story home' offers distinctive architectural character, blending historic appeal with contemporary interior design and amenities.
Versatile Investment Opportunity: Positioned as a 'unicorn property,' it caters to various buyer profiles, allowing for owner-occupancy with rental income, multi-generational living, or a strong addition to an investment portfolio for equity growth.

Cons

Age of Structure: Despite extensive remodels, the original 1900 build year may imply potential underlying infrastructure concerns (e.g., foundation, plumbing, electrical systems not part of cosmetic updates) that could require future maintenance.
Listed Above Estimated Value: The current list price of $1,249,999 is approximately 5% higher than the estimated property value of $1,179,791.73, suggesting a potentially aggressive pricing strategy that may impact buyer perception or negotiation.
Shared Outdoor Space & Limited Visuals: The units 'sharing a backyard space' might be a drawback for tenants or owner-occupants desiring private outdoor areas. Additionally, the listing explicitly states 'Photos are of Unit A only,' which could raise questions about the condition or finishes of Unit B.

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