250 Meridian Avenue, San Jose, California 95126, San Jose, 95126 - 4 bed, 2 bath
ACTIVE$1,700,000
250 Meridian Avenue, San Jose, California 95126
4Beds
2Baths
1,472Sqft
6,098Lot
Price Vs. Estimate
The estimated value ($1,613,532.835) is $86,467.165 (5%) lower than the list price ($1,700,000). This property may be overpriced.
Key pros and cons
Top Pros:
Versatile Mixed-Use Potential: The property is explicitly designed for mixed-use, currently configured as an office, making it ideal for a work-from-home business or commercial operations due to its location and setup.
Top Cons:
Missing Kitchen Installation Required: The kitchen has been removed for its current office use, requiring a significant investment and renovation effort for a buyer intending residential occupancy.
Compared to the nearby listings
Price:$1.70M vs avg $1.50M (+$200,000)73%
Size:1,472 sqft vs avg 1,518 sqft48%
Price/sqft:$1.2K vs avg $98685%
More Insights
Built in 1920 (105 years old).
Condition: The property, built in 1920, has been converted to an office, and the kitchen has been completely removed, requiring a buyer to install a new one for residential use. While visible areas show modern cosmetic updates like hardwood flooring, recessed lighting, and a well-maintained exterior, the absence of a functional kitchen constitutes a major deficiency for a residential property. This necessitates substantial rehabilitation to make it livable as a home, aligning with the 'poor' condition criteria despite the otherwise clean appearance of the office spaces.
Year Built
1920
Close
-
List price
$1.7M
Original List price
$1.7M
Price/Sqft
$1,155
HOA
-
Days on market
-
Sold On
-
MLS number
ML82022708
Home ConditionPoor
Features
View-
About this home
Great mixed use home. Currently the home is being used as an office, it was converted years ago. This is ideal for a work from home business due to the location and current configuration. Spacious, bright and in very good condition. There is a downstairs fully finished basement that is not included in the sqft. Currently, it is used as 6 office spaces, huge open living room area with 1.5 baths. Very handicap accessible, entrance and and shower entry. Buyer would need to install a kitchen as it has been removed for the current use. All closets have been removed from rooms as well. For investors, this space is in the Urban Village area with the possibility of developing upwards as well. Explore the possibility of the home/work/future growth opportunity!
Condition Rating
Poor
The property, built in 1920, has been converted to an office, and the kitchen has been completely removed, requiring a buyer to install a new one for residential use. While visible areas show modern cosmetic updates like hardwood flooring, recessed lighting, and a well-maintained exterior, the absence of a functional kitchen constitutes a major deficiency for a residential property. This necessitates substantial rehabilitation to make it livable as a home, aligning with the 'poor' condition criteria despite the otherwise clean appearance of the office spaces.
Pros & Cons
Pros
Versatile Mixed-Use Potential: The property is explicitly designed for mixed-use, currently configured as an office, making it ideal for a work-from-home business or commercial operations due to its location and setup.
Development & Investment Opportunity: Located in an 'Urban Village' area, the property offers significant potential for upward development and future growth, appealing to investors seeking long-term value.
Spacious & Well-Maintained Interior: Described as 'spacious, bright, and in very good condition,' indicating a well-preserved and inviting environment suitable for immediate use.
Additional Finished Basement Space: Includes a fully finished basement that is not included in the listed square footage, providing valuable additional usable area for various purposes.
Handicap Accessibility: Features handicap accessible entrance and shower entry, enhancing its appeal and usability for a broader range of occupants or clients.
Cons
Missing Kitchen Installation Required: The kitchen has been removed for its current office use, requiring a significant investment and renovation effort for a buyer intending residential occupancy.
Lack of Closets: All closets have been removed from the rooms, necessitating additional construction and cost to restore residential functionality and storage.
Listed Above Estimated Value: The property's current listing price of $1.7 million is notably higher than its estimated value of approximately $1.45 million, which may impact buyer perception and negotiation.