518 S Almaden Avenue, San Jose, California 95110, San Jose, 95110 - 5 bed, 2 bath
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San Jose, California 95110
This Value-Add Asset represents a High-Potential Investment Opportunity with a List Price of $1,246,000—positioned well below the $1,286,065 Fair Market Value by 3%. This pricing offers $40,065 in Instant Equity for buyers prepared to address unpermitted work. Despite a Fair Condition Rating, the property boasts a newer roof, updated electrical, and a 9-bedroom configuration with massive income potential within the San Jose Unified district. It is a high-yield project for Fix-and-Flip Investors or Contractors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 518 S Almaden Avenue Subject | $1,246,000* List Price | 5 | 2 | 2,400 | $540 | - |
A 1030 Locust Street Sold | $950,000 | 4 | 3 | 1,619 | $587 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1895, this bank-owned REO presents significant risk due to an unpermitted expansion from 5 to 9 bedrooms, which likely involves safety and building code violations. While the roof and electrical have been updated, the 'permits unknown' status for major structural changes and the basic, dated interior finishes indicate a need for substantial rehab and legal correction.
With the expansion from 5 to 9 bedrooms, this property offers substantial rental income potential or multi-generational living capacity in a central San Jose location.
The home features a newer roof and updated electrical service, addressing two of the most costly maintenance items for a historic property built in 1895.
The inclusion of a 2-car garage in the rear provides valuable off-street parking and storage, which is a premium feature for older homes in the downtown San Jose area.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2400, other record living area = 1279.
The expansion to 9 bedrooms has unknown permit status, which poses significant risks regarding building code compliance, future financing, and potential legal liabilities.
As a bank-owned REO property, it is likely sold in as-is condition with limited seller disclosures, potentially masking deferred maintenance or hidden structural issues.
Bank owned REO. Originally a 5 bedroom has been enlarged to 9 bedrooms, permits unknown. Hardwood floors, updated electrical service, newer roof, 2 car garage in rear.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 3.0 | 94% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 2,400 | 1,171.5 | 94% |
| Lot Size | 5,800 | 5,000 | 83% |
| Price | $1.25M | $1.09M | 67% |
| Price per sq ft | $519 | $826 | 11% |
| Built year | 1895 | 1923 | 6% |
| HOA | $0 | $0 | 50% |
| Days on market | 41 | 84 | 11% |
May 4, 2026
$1,246,000
Initial Listing
May 11, 2022
$1,485,000
Public Record
Nov 20, 2018
$1,065,000
Public Record
Jun 24, 2005
$600,000
Public Record