57 E 1st Street, Morgan Hill, California 95037, Morgan Hill, 95037 - 2 bed, 2 bath
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Morgan Hill, California 95037
This Commercial Redevelopment Assemblage represents a high-utility Asset with a List Price of $6,688,000, positioned near its $6,533,939 Fair Market Value. Despite a Condition Rating of 5 reflecting its 1910 origins and aging infrastructure, the property offers significant Value-Add potential through the Downtown Specific Plan. The portfolio generates Strong In-Place Income from existing residential and office suites, ensuring stable cash flow while navigating long-term development. Located in a prime downtown corridor with immediate Highway 101 access, this is a sophisticated acquisition for Institutional Investors or Developers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 57 E 1st Street Subject | $6,688,000* List Price | 2 | 2 | 900 | $7,260 | - |
A 70 E Main Avenue Active | $6,688,000 List Price | 3 | 2 | 979 | $6,831 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Originally built in 1910, this property is marketed primarily for its redevelopment potential and land value within a commercial assemblage. The listing highlights 'aging infrastructure' as a key weakness, suggesting that the residential structure requires significant capital expenditure for modernization or repairs. No interior images of the kitchen or bathrooms were provided to suggest any recent updates, and the property's value is tied to its future upside as a development site rather than the quality of the existing 900 sqft home.
Located within the Downtown Specific Plan area, this property offers significant long-term upside for developers looking to capitalize on a rare commercial assemblage in a high-growth zone.
Situated just steps from Monterey Road with immediate access to Highway 101, the property boasts a walkability score that appeals to both commercial tenants and future residential occupants.
The portfolio provides immediate cash flow from existing residential and office suites, making it an ideal vehicle for 1031 exchange buyers seeking stability with future growth.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 900, other record living area = 840.
With the original structure dating back to 1910, the property may require significant capital expenditure for repairs or modernization to maintain its current utility.
The high price point relative to the small residential footprint reflects its commercial value, which may limit the buyer pool to sophisticated institutional investors or developers.
Rare opportunity to acquire a downtown Morgan Hill commercial assemblage consisting of multiple contiguous parcels improved with residential homes and office suites. The portfolio generates strong in-place income and offers long-term redevelopment potential within the Downtown Specific Plan area. Located just steps from Monterey Road with convenient access to restaurants, retail, and Highway 101. Ideal for investors, developers, or 1031 exchange buyers seeking stable income with future upside in a prime downtown location. The offering includes 55 1st Street (ML 82040865), 57 E 1st Street (ML82040868), 70 & 74 E Main Street (ML82040872), and 50 E Main Street (ML82040862). Marketing package is in the disclosure link.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 4.0 | 13% |
| Baths | 2.0 | 3.0 | 34% |
| Square foot | 900 | 2,489.5 | 4% |
| Lot Size | 6,400 | 9,378 | 27% |
| Price | $6.69M | $1.55M | 99% |
| Price per sq ft | $7.4K | $667 | 99% |
| Built year | 1910 | 1991 | 4% |
| HOA | $0 | $82 | 43% |
| Days on market | 23 | 148 | 1% |
Mar 30, 2026
$6,688,000
Initial Listing