70 E Main Avenue, Morgan Hill, California 95037, Morgan Hill, 95037 - 3 bed, 2 bath
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Morgan Hill, California 95037
This Downtown Commercial Assemblage presents a High-Potential Investment Opportunity with a List Price of $6,688,000—positioned well below the $6,825,220 Fair Market Value by 2%. This valuation gap provides $137,220 in Instant Equity for an asset featuring High Available Lot Utilization and a Condition Rating of 4. Located within the Downtown Specific Plan, the portfolio offers immediate cash flow from residential and office units alongside significant High Redevelopment Potential. This complex acquisition is a strategic choice for 1031 Exchange Buyers or Developers seeking long-term upside in a prime Morgan Hill location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 70 E Main Avenue Subject | $6,688,000* List Price | 3 | 2 | 979 | $6,972 | - |
A 57 E 1st Street Active | $6,688,000 List Price | 2 | 2 | 900 | $7,431 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property, originally built in 1908, consists of aged residential and office structures that appear to be maintained through regular upkeep but show signs of significant dating. While the exteriors look tidy and the units are currently functional and generating income, the lack of interior photos and the listing's heavy emphasis on 'long-term redevelopment potential' suggest that the major systems and finishes are likely outdated and nearing the end of their functional lifespan.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7462, living area = 979.
Situated just steps from Monterey Road in the heart of Morgan Hill, the property offers exceptional walkability to local restaurants, retail, and convenient access to Highway 101.
Located within the Downtown Specific Plan area, this assemblage offers significant long-term upside for developers looking to capitalize on high-density urban growth.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 2.
With the original structure dating back to 1908, the property may require substantial capital expenditure for repairs or modernization if not immediately redeveloped.
As part of a multi-parcel commercial assemblage involving several contiguous properties, the acquisition process is more intricate than a standard residential transaction.
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 (ML82040865), 57 E 1st Street (ML82040868), 70 & 74 E Main Street, 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 | 3.0 | 4.0 | 34% |
| Baths | 2.0 | 3.0 | 34% |
| Square foot | 979 | 2,489.5 | 7% |
| Lot Size | 7,462 | 9,378 | 38% |
| Price | $6.69M | $1.55M | 99% |
| Price per sq ft | $6.8K | $667 | 99% |
| Built year | 1908 | 1991 | 4% |
| HOA | $0 | $82 | 43% |
| Days on market | 23 | 148 | 1% |
Mar 30, 2026
$6,688,000
Initial Listing