340 Walnut Lane, Gilroy, California 95020, Gilroy, 95020 - 3 bed, 2 bath
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340 Walnut Lane
Gilroy, California 95020
ACTIVE
CONDITION: POOR
3Beds
2Baths
1,092Sq Ft
6,534Lot Size
Property Price
LIST PRICE$779,000
EST. MARKET VALUE
$709,271
9% AboveMARKET VALUE
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $779,000—positioned above the $716,233 Fair Market Value. While the property requires significant capital investment due to its Condition Rating of 5, the 6,534 square foot lot with Alley Access provides a unique foundation for ADU Development and forced appreciation. This asset is best suited for Fix-and-Flip Investors or Contractors capable of executing a full-scale renovation to modernize the dated interior and maximize the site's utility.
Estimated Market Value
$709,271
Based on Realkey algorithm analyzing recent comparable sales in Gilroy.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 340 Walnut Lane Subject | $779,000* List Price | 3 | 2 | 1,092 | $650 | - |
A 7515 Chestnut Street Sold | $665,000 | 3 | 1 | 1,248 | $533 | 0.3 mi |
B 7520 Carmel Street Sold | $810,000 | 3 | 0 | 1,283 | $631 | 0.7 mi |
C 8440 Diane Ct Sold | $866,000 | 4 | 2 | 1,358 | $638 | 0.9 mi |
D 7240 Alexander Street Active Under Contract | $580,000 List Price | 3 | 1 | 943 | $615 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Poor
TeardownExcellent
Property is extensive renovation needed.
Built in 1953 with no evidence of recent renovations, this property is sold 'AS IS' and targeted at investors or contractors. The interior features heavily stained carpeting, a dated kitchen with older cabinetry, and unfinished wall surfaces in the laundry area, indicating a need for a full rehab rather than minor updates.
PROSSTRENGTHS & OPPORTUNITIES
- Development Potential
The property features rare alley access on a 6,500+ square foot lot, providing excellent utility for RV or boat parking and significant potential for a future ADU to increase property value.
- Architectural Character
The living room offers desirable mid-century aesthetic elements, including open beam ceilings and a wood-burning fireplace, which serve as a charming foundation for modern renovations.
- Functional Utility
Despite the compact square footage, the home includes highly practical features such as an indoor laundry room with 220V hookups and a kitchen equipped with a gas cooktop and dishwasher.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6534, other record lot size in square feet = 6600.
- As-Is Condition
The property is being sold in 'AS IS' condition, indicating that it likely requires immediate capital investment for repairs and modernization to reach its full market potential.
- Limited Bathroom Configuration
With only 1.5 bathrooms for a three-bedroom residence, the layout may be less functional for modern families compared to homes offering two or more full bathrooms.
About 340 Walnut Lane
Opportunity awaits! This 3-bedroom, 1.5 bath home offers 1,092 square feet of living space on a 6,500+ square foot lot. A standout feature is the convenient alley access, providing easy access for RV, boat, or additional vehicle parking while also offering potential for a future ADU or other improvements (buyer to verify with the City of Gilroy). Inside, the inviting living room features open beam ceilings and a cozy wood-burning fireplace. The kitchen offers a gas cooktop, tile countertops, an eat-in dining area, and includes a refrigerator and dishwasher. An indoor laundry room with a 220V hookup adds convenience. Being sold AS IS, this property presents an excellent opportunity for investors, contractors, or buyers looking to build equity through updates, while taking advantage of the lot's future potential.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1953
- Lot Size
- 6,534 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 4.0 |
| Baths | 2.0 | 2.7 |
| Square foot | 1,092 | 2,212.338 |
| Lot Size | 6,534 | 6,777.206 |
| Price | $779.0K | $1.13M |
| Price per sq ft | $713 | $535 |
| Built year | 1953 | 2000 |
| HOA | $0 | $189 |
| Days on market | 45 | 51 |
Pricing History
Listed for Sale
Jul 26, 2026
$779,000
Initial Listing