
San Jose, California 95112
This High-Potential Investment Opportunity is listed at $1,489,000, positioned above the $1,397,539 Fair Market Value. While the property carries a premium, its 9-bedroom, 3-kitchen layout provides exceptional income-generating potential near San Jose State University. With a Condition Rating of 3, the home features recent interior updates and a refreshed exterior, minimizing immediate capital expenditure. This versatile asset is perfectly suited for Buy-and-Hold Investors seeking rental yield or Owner-Occupants interested in multi-generational living or house-hacking strategies in a central downtown location.
Property is move-in ready.
Despite the 1898 build date, the property is well-maintained and move-in ready due to numerous interior updates and a freshly painted exterior. The kitchens feature functional oak cabinetry and newer stainless steel appliances, and the bathrooms appear clean and updated, fitting the 5-15 year renovation profile.
With 9 bedrooms and 3 kitchens, this property offers exceptional versatility for investors or multi-generational living, particularly given its proximity to San Jose State University.
Situated in the heart of Downtown San Jose, the property provides convenient access to major employment centers, public transportation, and diverse dining and entertainment options.
The home features extensive interior refreshments and a newly painted exterior, blending historic charm with modern functionality to minimize immediate renovation needs.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 9, other record bedroom count = 10.
Originally built in 1898, the property may require ongoing specialized maintenance or upgrades to aging infrastructure common in century-old structures.
The assigned local schools carry lower performance ratings, which could impact the property's appeal to families prioritizing educational excellence.
Rare opportunity to own a distinctive multifamily property in the heart of Downtown San Jose. Ideally located near the intersection of S. 3rd Street and E. Reed Street, this spacious property offers approximately 2,388 square feet with a flexible layout featuring 9 bedrooms, 4 bathrooms, and 3 kitchens. The property has undergone numerous interior updates, offering a refreshed and functional living environment while maintaining its historic character. The exterior has been freshly painted throughout, providing a clean and attractive new look. With its generous bedroom count, multiple kitchens, and versatile layout, the property offers a variety of possibilities for investors, extended-family living, or owner-users, subject to applicable city requirements and approvals. Additional features include a detached garage and convenient access to Downtown San Jose, San Jose State University, restaurants, shopping, entertainment, public transportation, and major employment centers. A unique multifamily opportunity combining historic character, extensive interior updates, and a freshly painted exterior in a highly convenient San Jose location.
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades K-5 • 0.4 mi
Grades K-5 • 0.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 9.0 | 4.0 |
| Baths | 5.0 | 2.0 |
| Square foot | 2,388 | 1,721.238 |
| Lot Size | 4,250 | 6,271.145 |
| Price | $1.49M | $1.67M |
| Price per sq ft | $624 | $972 |
| Built year | 1898 | 1965 |
| HOA | $0 | $190 |
| Days on market | 25 | 38 |
Sep 29, 2026
$1,489,000
Initial Listing
Oct 26, 2017
$1,200,000
Public Record
Jan 19, 2005
$550,000
Public Record