1966 Almaden Rd, San Jose, California 95125, San Jose, 95125 - 3 bed, 2 bath
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San Jose, California 95125
This property presents a High-Potential Investment Opportunity with a List Price of $1,899,000—positioned well below the $1,901,074 Fair Market Value by 0.11%. Featuring a Condition Rating of 6, the primary value lies in the 12,420 SF lot and the included entitled plans for a 27-unit apartment community. This asset offers significant time and cost savings for Multifamily Developers and Institutional Investors seeking to capitalize on one of Silicon Valley’s strongest residential markets.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1966 Almaden Rd Subject | $1,899,000* List Price | 3 | 2 | 1,606 | $1,184 | - |
A 1274 Norval Way Pending | $2,250,000 List Price | 3 | 3 | 2,047 | $1,099 | 1.0 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
The property was built in 1950 (74 years old) and shows no evidence of major renovations to systems or interiors. The listing is explicitly marketed as a development opportunity for a 27-unit apartment complex, confirming that the primary value lies in the land rather than the existing structure.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 12420, living area = 1606.
The property includes advanced plans for a 27-unit apartment community with significant pre-development work and professional studies already completed, offering substantial time and cost savings for investors.
Situated near Downtown San Jose and Willow Glen with immediate access to Highways 87 and 85, the site is perfectly positioned within one of Silicon Valley's strongest residential and commuter markets.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 2.
The list price is primarily driven by the land's development potential rather than the existing 1950s structure, which may require significant additional capital for either renovation or demolition.
While the area features some high-performing schools, several assigned local schools have lower ratings, which could be a deterrent for traditional family-oriented buyers.
Exceptional opportunity to acquire a highly desirable property in the heart of San Jose with multiple value-add possibilities. Situated on approximately 12,426± SF (0.29± acres), this versatile property is ideal for developers, investors, or owner-users. Whether you're looking to build a custom dream home on a spacious lot, renovate the existing residence, hold it as an income-producing rental, or pursue a multifamily development, this property offers outstanding flexibility and long-term upside. For developers, the property includes plans for a proposed five-story, 27-unit apartment community totaling approximately 44,188± SF of gross building area. The proposed project features a mix of one- and two-bedroom residences, 31 structured parking spaces, a rooftop amenity deck, EV charging infrastructure, bicycle parking, elevator access, a controlled-access garage, and contemporary architectural design. The seller has already invested significantly in advancing the project by completing and paying for numerous professional studies, engineering, and entitlement-related services, including architectural design, civil engineering, landscape architecture, joint trench design, construction cost analysis, underground utility locating, BOV services, MEP engineering, arborist report, architectural historian assessment, City of San Jose application and review fees, environmental analysis, Transportation Demand Management (TDM) Plan, and transportation analysis. This extensive due diligence and pre-development work represents substantial time and cost savings for a future buyer. Ideally located near Downtown San Jose, Willow Glen, Highways 87 and 85, major Silicon Valley employers, shopping, dining, parks, and public transportation, the property offers exceptional accessibility and is positioned within one of Silicon Valley's strongest residential markets. Buyer to independently verify all property information, zoning, development potential, permits, approvals, reports, plans, and the transferability and status of all development documents with the City of San Jose and the applicable consultants. Development plans and supporting documents are available upon request.
No exterior & parking available.
Grades K-5 • 0.5 mi
Grades K-5 • 0.5 mi
Grades K-5 • 1.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 4.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,606 | 1,683.5 |
| Lot Size | 12,420 | 6,300 |
| Price | $1.90M | $1.70M |
| Price per sq ft | $1.2K | $1000 |
| Built year | 1950 | 1966 |
| HOA | $0 | $160 |
| Days on market | 14 | 35 |
Jul 9, 2026
$1,899,000
Initial Listing
Dec 30, 2021
$1,450,000
Public Record