494 Greendale Way, San Jose, California 95129, San Jose, 95129 - bed, bath
494 Greendale Way
San Jose, California 95129
Property Price
SUMMARY
Analysis of 494 Greendale Way, San Jose, California 95129 is currently available with a list price of $2,399,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the San Jose Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
The property, built in 1964, features tastefully remodeled kitchens with modern cabinets, stainless steel appliances, and updated flooring, which visually appear to be in good condition. However, the listing explicitly states these kitchen remodels are unpermitted, posing a significant legal and potential financial issue for a new owner. While other areas like the bedroom show clean laminate flooring and paint, the overall age of the building (60 years old) suggests that other major systems and components are likely original or older and may show signs of being outdated, even if maintained. The unpermitted renovations require rectification, pushing the property into the 'Fair' category, as it requires more than just minor cosmetic updates to address the compliance issue.
PROSSTRENGTHS & OPPORTUNITIES
- Exceptional School District
Located within the highly coveted Cupertino High and Elementary school district, a significant draw for families and a strong value driver in the competitive San Jose market.
- Prime Silicon Valley Location
Offers excellent proximity to major tech employers like Apple, extensive shopping, diverse restaurants, and quick access to freeways and San Jose Mineta International Airport.
- Income-Generating Quadruplex
As a residential income property (quadruplex) with long-term tenants, it provides immediate rental income and strong investment potential in a high-demand area.
CONSRISKS & DEFICIENCIES
- Unpermitted Kitchen Remodels
The previous sale fell through because the original buyer could not wait for new permits for the remodeled kitchens, indicating a significant compliance issue and potential future costs or delays for the new owner.
- Tenant-Occupied with Restricted Access
The property is tenant-occupied with strict instructions not to disturb tenants, which can complicate showings, inspections, and due diligence for potential buyers.
- Age of Property
Built in 1964, the property is over 50 years old, which may imply older infrastructure, systems, or the need for ongoing maintenance and updates beyond the recently remodeled kitchens.
About 494 Greendale Way
Highly coveted CUPERTINO HIGH with the CUPERTINO ELEMENTARY school district is a real bonus with a San Jose address. Double pane windows make each unit quiet. Go inside (by appointment) to listen for yourself. Unit # 1 would make a very desirable home for the new owner, or a tenant who wants extra space, with its 3 bedrooms and 2 bathrooms, and Cupertino schools. Close to Apple, Shopping, and Restaurants. Generally quick access to San Jose Mineta International Airport. (Google maps says the trip is typically 12 to 18 minutes.) Tastefully remodeled kitchens. Long term tenants. Easy access to freeways. 6 parking spaces with automatic garage doors. Do not enter property or contact tenants. LUCKY NEWS for you: Available, again, after selling in 12 days. Original buyer could not wait for new permits for the remodeled kitchens.
Property Details
Public Facts
- Property Type
- Quadruplex
- Year Built
- 1964
- Lot Size
- 7,841 Sq. Ft.
Interior
- Total Bedrooms
- -
- Total Bathrooms
- -
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 | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 50% |
| Baths | - | - | 50% |
| Square foot | 3,793 | 3,827 | 40% |
| Lot Size | 7,841 | 7,740 | 60% |
| Price | $2.40M | $2.30M | 80% |
| Price per sq ft | $632 | $601 | 80% |
| Built year | 1964 | 1964 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 534 | 243 | 0% |
Pricing History
Listed for Sale
Sep 19, 2024
$2,399,000
Initial Listing