450 Lewis Road, San Jose, California 95111, San Jose, 95111 - bed, bath

450 Lewis Road, San Jose, California 95111 home-pic-0
ACTIVE$1,668,000
450 Lewis Road, San Jose, California 95111
0Bed
0Bath
3,328Sqft
9,945Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Immediate Income & Occupancy: The property is fully rented with long-term tenants, ensuring immediate and consistent rental income for investors.
Top Cons:
High Association Fee: The significant association fee of $1288.0 (likely monthly) will substantially impact the net operating income and overall cash flow.

Compared to the nearby listings

Price:$1.67M vs avg $1.28M (+$384,000)50%
Size:3,328 sqft vs avg 2,305 sqft50%
Price/sqft:$501 vs avg $60250%

More Insights

Built in 1962 (63 years old).
Condition: The property was built in 1962, making it over 60 years old. While described as 'well-maintained,' the listing explicitly states that 'some units need cosmetic upgrades.' The exterior images show an aged building with visible patching and repairs, suggesting ongoing maintenance but also that the property has not undergone a recent extensive renovation. The need for cosmetic upgrades strongly implies that kitchens and bathrooms, along with other interior finishes, are likely outdated, aligning with the 'fair' condition criteria of requiring minor updates and having functional but outdated components.
Year Built
1962
Close
-
List price
$1.67M
Original List price
$1.78M
Price/Sqft
$501
HOA
$1,288
Days on market
-
Sold On
-
MLS number
ML81991369
Home ConditionFair
Features
View-

About this home

Back on the market! Fully rented 4-unit investment opportunity with upside potential. This well-maintained building is a great addition to any investors portfolio, offering consistent rental demand, long-term tenants, and room to grow your profits. Property Highlights ** Unit Configuration: Four 2-bed/1-bath unitsideal for owner-occupiers or investors ** Well-Maintained Community - Privately run HOA ensures clean, well-kept grounds; assigned carports plus extra parking; shared laundry facility; tenant-enjoyed balconies/patios ** Prime Convenience - Close to major employers, shopping, dining, schools, churches, and public transitperfect for families and high occupancy rates ** Value-Add Potential - Some units need cosmetic upgrades, presenting an opportunity to raise rents and boost profitability This property is a solid investment for seasoned investors or first-time buyers entering the multi-family market.

Condition Rating
Fair

The property was built in 1962, making it over 60 years old. While described as 'well-maintained,' the listing explicitly states that 'some units need cosmetic upgrades.' The exterior images show an aged building with visible patching and repairs, suggesting ongoing maintenance but also that the property has not undergone a recent extensive renovation. The need for cosmetic upgrades strongly implies that kitchens and bathrooms, along with other interior finishes, are likely outdated, aligning with the 'fair' condition criteria of requiring minor updates and having functional but outdated components.
Pros & Cons

Pros

Immediate Income & Occupancy: The property is fully rented with long-term tenants, ensuring immediate and consistent rental income for investors.
Value-Add Potential: Opportunity to increase rents and boost profitability through cosmetic upgrades in some units.
Prime Location: Strategically located near major employers, shopping, dining, schools, and public transit, ensuring high rental demand.
Well-Maintained Community: A privately run HOA maintains clean grounds, offers assigned parking, and shared laundry, enhancing tenant appeal and property value.
Desirable Unit Mix: Features four 2-bedroom, 1-bathroom units, a highly sought-after configuration for both families and investors.

Cons

High Association Fee: The significant association fee of $1288.0 (likely monthly) will substantially impact the net operating income and overall cash flow.
Required Capital Expenditure: Some units require cosmetic upgrades, necessitating immediate capital investment to realize the full value-add potential.
Price Reduction History: Multiple price reductions from the original listing price may indicate market resistance or a need for further price adjustment.

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