467 S 3rd Street, San Jose, California 95112, San Jose, 95112 - 0 bed, 0 bath
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467 S 3rd Street
San Jose, California 95112
ACTIVE UNDER CONTRACT
CONDITION: FAIR
0Beds
0Baths
2,620Sq Ft
6,210Lot Size
Property Price
LIST PRICE$999,888
EST. MARKET VALUE
$1,064,545
6% BelowMARKET VALUE
SUMMARY
This Victorian triplex represents a Strong Value Opportunity, listed at $999,888—positioned well below the $1,064,546 Fair Market Value by 6%. This valuation gap offers $64,658 in Instant Equity. With a Condition Rating of 4, the property generates a robust $166,344 in annual gross income from 8 established room rentals. While the 1898 structure requires ongoing maintenance, the high-yield cash flow makes this an ideal Buy-and-Hold Investor asset or a strategic acquisition for experienced landlords seeking immediate, stabilized revenue in Downtown San Jose.
Estimated Market Value
$1,064,545+$64,657 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in San Jose.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 467 S 3rd Street Subject 0 bd · 0 ba · 2,620 sqft · $406 | $999,888* List Price | 0 | 0 | 2,620 | $406 | - |
A 309 N 5th Street Sold 0 bd · 0 ba · 2,532 sqft · $413 · 0.9 mi | $1,045,000 | 0 | 0 | 2,532 | $413 | 0.9 mi |
B 244 E Julian Street Active Under Contract 0 bd · 0 ba · 2,546 sqft · $481 · 0.9 mi | $1,225,000 List Price | 0 | 0 | 2,546 | $481 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1898, this Victorian triplex is functional and generating significant cash flow, but its extreme age and the lack of documented recent renovations suggest that the kitchens, bathrooms, and core systems (HVAC/Electric) are likely dated (>20 years) and will require updates.
PROSSTRENGTHS & OPPORTUNITIES
- Exceptional Cash Flow
The property generates a robust $13,862 in monthly scheduled rent, offering a high gross yield and immediate positive cash flow potential for investors with as little as 20% down.
- Strategic Downtown Location
Situated in the heart of Downtown San Jose, the property benefits from high rental demand and proximity to urban amenities, transit, and major employment hubs.
- Turnkey Income Stream
With 8 income-producing rooms already occupied by a mix of subsidized and self-pay tenants, the asset provides day-one revenue without the need for initial leasing efforts.
CONSRISKS & DEFICIENCIES
- Historic Age & Maintenance
Originally built in 1898, the property's significant age may necessitate substantial ongoing maintenance, structural updates, or repairs to aging systems.
- Management Intensity
Operating as an 8-room rental house requires more hands-on management, tenant coordination, and administrative oversight compared to traditional multi-family residential units.
About 467 S 3rd Street
**CASH FLOW! CASH FLOW! CASH FLOW!** Exciting Downtown San Jose investment opportunity generating **$13,862 per month in current scheduled rent $166,344 annually**. 467 S. 3rd Street offers an established income stream with **8 income-producing room rentals**, with subsidized and self-pay tenants. Based on current rents and financing assumptions, the property has the potential to **remain cash-flow positive with as little as 20% down**, creating an attractive opportunity for investors focused on immediate income. **Strong gross income, tenants already in place, and cash-flow potential from day one.** The property is legally recognized as a triplex under its Residential Occupancy Permit, with rooms rented individually. Buyers are encouraged to review all financial information, disclosures, permits, occupancy/use information, expenses, and perform their own due diligence regarding the property and projected cash flow. **IMPORTANT SHOWING INFORMATION:** Property is tenant occupied with limited access. **All showings will be held during one open house weekend only:** **Saturday, October 3 | 2:00 - 4:00 PM** **Sunday, October 4 | 2:00 - 4:00 PM** **Mark your calendars and don't miss the open house weekend.**
Property Details
Public Facts
- Property Type
- Triplex
- Year Built
- 1898
- Lot Size
- 6,210 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
San Jose Unified Schools
Lowell Elementary School
Grades K-5 • 0.4 mi
3/10
Washington Elementary School
Grades K-5 • 0.6 mi
4/10
Horace Mann Elementary School
Grades K-5 • 0.7 mi
4/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 2,620 | 2,404.563 |
| Lot Size | 6,210 | 6,807.656 |
| Price | $999.9K | $1.42M |
| Price per sq ft | $382 | $613 |
| Built year | 1898 | 1962 |
| HOA | $0 | $0 |
| Days on market | 25 | 72 |
Pricing History
Listed for Sale
Sep 29, 2026
$999,888
Initial Listing
Sold
Nov 22, 2016
$8,000
Public Record
Sold
May 5, 2006
$760,000
Public Record