450 Lewis Road, San Jose, California 95111, San Jose, 95111 - 0 bed, 0 bath
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San Jose, California 95111
This Quadruplex Asset presents a Strong Value Opportunity with a List Price of $1,550,000—positioned well below the $1,664,816 Fair Market Value by 6%. This valuation gap offers $114,816 in Instant Equity for buyers prepared to address the Poor Condition Rating and deferred maintenance. Featuring four high-demand 2-bedroom units in a prime San Jose location near major employers, the property provides significant upside through modernization and market-rate rent adjustments. This value-add acquisition is a strategic play for Buy-and-Hold Investors or Seasoned Investors looking to capitalize on a motivated seller.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 450 Lewis Road Subject | $1,550,000* List Price | 0 | 0 | 3,328 | $500 | - |
A 464 Lewis Road Active | $1,550,000 List Price | 0 | 0 | 3,328 | $466 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1962, this quadruplex is functional and fully occupied but shows clear signs of age and deferred maintenance. The listing explicitly mentions the need for 'TLC,' and the exterior photo reveals visible patching and cracking on the stucco. Given the long-term tenancy and the 'upside potential' description, the kitchens, bathrooms, and major systems are likely outdated and require modernization to meet current market standards.
This fully occupied quadruplex features long-term tenants and significant upside potential for rent increases, making it a stable income-generating asset in a high-demand market.
The property is ideally situated near major employers, public transit, and shopping centers, ensuring consistent tenant demand and long-term occupancy stability.
A privately managed HOA maintains the grounds, carports, and shared laundry facilities, reducing the owner's direct responsibility for exterior upkeep and common area management.
The property is noted to need 'TLC,' indicating that immediate capital expenditure will be required for repairs and modernization to reach its full market potential.
With 66 days on the market and a significant $230,000 price reduction from the original list price, the property has faced challenges in attracting buyers at its initial valuation.
Motivated sellers. Submit an offer subject to inspection. Fully rented 4-unit investment opportunity with upside potential. The property needs some TLC, but it is located in an area with consistent rental demand, long-term tenants, and room to grow profits. Property Highlights Unit Configuration: Four 2-bedroom, 1-bath units, ideal for investors and possible owner-occupant interest, subject to current tenancy. Well-Maintained Community: Privately managed HOA with clean, well-kept grounds, assigned carports, additional parking, and a shared laundry facility. Prime Convenience: Close to major employers, shopping, dining, schools, churches, and public transit, making it attractive for tenants and supportive of strong occupancy. This property is a solid investment opportunity for seasoned investors or first-time buyers entering the multifamily market.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 3,328 | 3,140 | 50% |
| Lot Size | 9,945 | 8,217.5 | 50% |
| Price | $1.55M | $1.49M | 50% |
| Price per sq ft | $466 | $474 | 50% |
| Built year | 1962 | 1967 | 50% |
| HOA | $108.0 | $54 | 50% |
| Days on market | 33 | 137 | 50% |
Mar 22, 2026
$1,550,000
Initial Listing
Mar 20, 2026
$1,780,000
Initial Listing
Jun 8, 1999
$50,500
Public Record
Feb 16, 1999
$285,000
Public Record