200 Southside Drive, San Jose, California 95111, San Jose, 95111 - 30 bed, 24 bath
ACTIVE$1,500,000$11,000/sqft
200 Southside Drive, San Jose, California 95111
30Beds
24Baths
11,000Sqft
10,700Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Advanced Development Approval: The property boasts preliminary approval for 6-unit townhouses and is 'only one step away from hearing and building permit approval,' significantly de-risking the project and accelerating the development timeline for investors.
Top Cons:
Permitting Not Finalized: Despite preliminary approval, the project is still 'one step away' from final hearing and building permits, which introduces a potential for delays or unforeseen requirements before construction can commence.
Compared to the nearby listings
Price:$1.50M vs avg $1.09M (+$412,500)85%
Size:11,000 sqft vs avg 1,460 sqft96%
Price/sqft:$136 vs avg $7844%
More Insights
Built in 1915 (111 years old).
Condition: The property was built in 1915, over 50 years ago, and the listing explicitly states it has preliminary approval for 6-unit townhouses, with the existing structure likely requiring demolition. All provided images are of the proposed development plans, not the current house. The value is clearly based on the land and its development potential, not the existing structure.
Year Built
1915
Close
-
List price
$1.5M
Original List price
$1.5M
Price/Sqft
$136
HOA
-
Days on market
-
Sold On
-
MLS number
ML82031663
Home ConditionTear down
Features
View-
About this home
Preliminary approved for 6-unit townhouses. Nice, flat lot ideal for development. Only one step away from hearing and building permit approval.
M
Mona Wang
Listing Agent
Price History
Date
Event
Price
12/27/23
Sold
$880,000
04/15/11
Sold
$235,000
Condition Rating
Tear down
The property was built in 1915, over 50 years ago, and the listing explicitly states it has preliminary approval for 6-unit townhouses, with the existing structure likely requiring demolition. All provided images are of the proposed development plans, not the current house. The value is clearly based on the land and its development potential, not the existing structure.
Pros & Cons
Pros
Advanced Development Approval: The property boasts preliminary approval for 6-unit townhouses and is 'only one step away from hearing and building permit approval,' significantly de-risking the project and accelerating the development timeline for investors.
Prime San Jose Location: Located in San Jose, a highly desirable and competitive market with strong demand for new housing, ensuring a robust market for the completed townhouse units.
Optimal Lot Characteristics: Described as a 'nice, flat lot,' which is ideal for construction, minimizing site preparation challenges and reducing overall development costs.
High Density Potential: The approval for 6 townhouses on a 10,700 sqft lot represents excellent utilization of land, maximizing potential return on investment per square foot.
Strong Market Appreciation: Recent sales history (sold for $880,000 in December 2023, now listed at $1.5M) indicates a robust market and significant value growth potential for the developed units.
Cons
Permitting Not Finalized: Despite preliminary approval, the project is still 'one step away' from final hearing and building permits, which introduces a potential for delays or unforeseen requirements before construction can commence.
Demolition & Development Costs: The existing 1915 structure will likely require demolition, adding to the overall development costs and timeline, in addition to the substantial construction budget for six new townhouses.
High Capital Requirement: The $1.5 million list price, combined with significant development expenses, necessitates a substantial capital investment, narrowing the pool of eligible buyers to well-funded developers.