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

464 Lewis Road, San Jose, California 95111 home-pic-0
ACTIVE$1,668,000
464 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:
Strong Investment Profile: This fully rented quadruplex offers consistent rental demand, long-term tenants, and clear potential for profit growth, making it an attractive investment opportunity.
Top Cons:
Required Cosmetic Upgrades: While offering value-add potential, the necessity for cosmetic upgrades in some units implies immediate capital investment for the new owner to maximize rental income.

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: Built in 1962, this property is over 60 years old. While described as 'well-maintained,' the listing explicitly states that 'some units need cosmetic upgrades' to boost profitability. This indicates that the interiors, including kitchens and bathrooms, are likely very dated in style and features, with older appliances, fixtures, and flooring. Without interior images, we rely on the age and description, which suggest functional but outdated components rather than significant defects or modern updates. It requires minor updates to meet current aesthetic standards and tenant expectations, aligning with the 'Fair' condition criteria.
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
ML81991389
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, including the 4-plex next door -- 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

Built in 1962, this property is over 60 years old. While described as 'well-maintained,' the listing explicitly states that 'some units need cosmetic upgrades' to boost profitability. This indicates that the interiors, including kitchens and bathrooms, are likely very dated in style and features, with older appliances, fixtures, and flooring. Without interior images, we rely on the age and description, which suggest functional but outdated components rather than significant defects or modern updates. It requires minor updates to meet current aesthetic standards and tenant expectations, aligning with the 'Fair' condition criteria.
Pros & Cons

Pros

Strong Investment Profile: This fully rented quadruplex offers consistent rental demand, long-term tenants, and clear potential for profit growth, making it an attractive investment opportunity.
Prime San Jose Location: Situated in a highly desirable area with convenient access to major employers, shopping, dining, schools, and public transit, ensuring high occupancy rates and tenant appeal.
Value-Add Opportunity: The need for cosmetic upgrades in some units presents a direct path for investors to increase rental income and boost overall property value through strategic renovations.
Well-Maintained Community: Benefits from a privately run HOA that ensures clean, well-kept grounds, enhancing tenant satisfaction and contributing to the property's overall appeal and longevity.
Desirable Tenant Amenities: The property offers practical amenities such as assigned carports, extra parking, shared laundry facilities, and private balconies/patios, adding significant value for tenants.

Cons

Required Cosmetic Upgrades: While offering value-add potential, the necessity for cosmetic upgrades in some units implies immediate capital investment for the new owner to maximize rental income.
High Monthly Association Fee: The substantial $1288.0 monthly HOA fee will significantly impact the property's net operating income and overall cash flow for an investor.
Older Property Age: Built in 1962, the property is over 60 years old, which may lead to higher maintenance costs or the eventual need for major system replacements compared to newer constructions.

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