623 S 2nd Street, San Jose, California 95112, San Jose, 95112 - 0 bed, 0 bath
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San Jose, California 95112
This Value-Add Residential Income Asset is listed at $1,390,000, aligning with its $1,390,000 Fair Market Value. Carrying a Condition Rating of 5, the 1906 structure requires a comprehensive rehab to address deferred maintenance and modernize its 3,360 square feet of living space. Located in a high-demand downtown corridor near San Jose State University, the property offers significant rental upside and potential for commercial conversion. This strategic acquisition is a prime candidate for Value-Add Investors or Contractors looking to capitalize on San Jose's core urban growth.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 623 S 2nd Street Subject | $1,390,000* List Price | 0 | 0 | 3,360 | $414 | - |
A 188 S 14th Street Sold | $1,175,000 | 0 | 0 | 2,226 | $528 | 1.0 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1906 with no evidence of major recent renovations. The exterior shows visible wood rot and significant deferred maintenance on the eaves. Interior photos reveal dated bathrooms, aged built-in cabinetry, and likely outdated electrical/HVAC systems (window AC units present). The property requires a full rehab to address structural aging and safety concerns.
Situated in a high-demand area near San Jose State University and public transit, ensuring a consistent pool of potential tenants and high occupancy rates.
With 3,360 square feet of living space and a history as a boarding house, this duplex offers substantial rental income opportunities in a core urban market.
Located in a primary commercial location, the property provides long-term investment value through potential redevelopment or conversion to professional office space.
Built in 1906, the property likely requires significant ongoing capital expenditures for repairs and modernization of aging structural and mechanical systems.
The 4,318 square foot lot is relatively small for a building of this scale, which may limit parking options and outdoor amenity space for residents.
Downtown Primary Commercial Location: The Home was previously used as a boarding house with multiple rooms upstairs. The downstairs unit features three bedrooms and two bathrooms with a steady income history. High-demand location near San Jose State University, public transportation, and easy freeway access. Walkable to downtown restaurants and shopping! Buyer is advised to do their own due diligence. This hidden treasure delivers steady rental income and plenty of potential for future opportunities..
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 3,360 | 1,860 | 89% |
| Lot Size | 4,318 | 5,501 | 33% |
| Price | $1.39M | $999.0K | 89% |
| Price per sq ft | $414 | $537 | 11% |
| Built year | 1906 | 1916 | 33% |
| HOA | $0 | $0 | 50% |
| Days on market | 161 | 161 | 56% |
Feb 6, 2026
$1,390,000
$1,450,000
-4% Price Drop
Initial Listing
Nov 12, 2025
$1,450,000
Initial Listing