101 S 28th Street, San Jose, California 95116, San Jose, - bed, bath
ACTIVE$699,000
101 S 28th Street, San Jose, California 95116
2Beds
1Bath
964Sqft
6,460Lot
Year Built
1935
Close
-
List price
$699K
Original List price
$699K
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
ML82017823
Home ConditionFair
Features
View-
About this home
Multi-use parcel with steady cash flow & future upside. 101 S. 28th Street delivers reliable income from day one, with a 2-bed/1-bath single-family home, a fully leased spray shop, and a land lease for a 5th wheel trailer. Month-to-month tenants are already in place, allowing you to collect cash flow while exploring future redevelopment or repositioning options. Zoned for mixed-use, this property shares a lot line with 115 S. 28th Street (also available for sale), creating a rare opportunity to own side-by-side parcels with five distinct income streams. Purchase individually or as part of a combined acquisition to maximize scale, frontage, and long-term potential in a central San Jose location.
Price History
Date
Event
Price
08/12/25
Listing
$699,000
Neighborhood Comparison
| Subject | Average Home | Neighbourhood Ranking (27 Listings) | |
|---|---|---|---|
| Beds | 2 | 3 | 11% |
| Baths | 1 | 2 | 14% |
| Square foot | 964 | 1,285 | 11% |
| Lot Size | 6,460 | 5,250 | 71% |
| Price | $699K | $1.03M | 7% |
| Price per square foot | $725 | $719 | 61% |
| Built year | 1935 | 9770980 | 21% |
| HOA | |||
| Days on market | 85 | 159 | 14% |
Condition Rating
Fair
The property was built in 1935, making it over 80 years old. While the exterior appears maintained for its age, there are no interior images provided to assess the condition of the kitchen, bathrooms, appliances, flooring, or other internal systems. The listing description emphasizes the property's multi-use nature, cash flow, and potential for future redevelopment, rather than highlighting recent renovations or modern amenities of the single-family home. Given its age and the lack of interior updates shown, it's highly probable that the kitchen and bathroom are outdated and would require minor to moderate updates to meet current standards. The property is currently leased and generating income, suggesting it is functional and habitable, which rules out 'Poor' or 'Tear-down' conditions, but it is certainly not 'Good' or 'Excellent' without evidence of significant recent renovations.
Pros & Cons
Pros
Multiple Income Streams: The property generates immediate and reliable cash flow from diverse sources, including a single-family home, a fully leased spray shop, and a land lease for a 5th wheel trailer.
Mixed-Use Zoning: Zoned for mixed-use, this parcel offers significant future upside for redevelopment or repositioning, maximizing its long-term potential.
Strategic Location: Situated in central San Jose, the property benefits from a desirable and accessible location, enhancing its appeal for various uses and future development.
Scalability Opportunity: The availability of an adjacent parcel (115 S. 28th Street) for combined acquisition presents a rare opportunity to maximize scale, frontage, and overall investment potential.
Flexible Tenancy: Month-to-month leases provide an investor with immediate income while maintaining the flexibility to execute redevelopment plans without long-term tenant commitments.
Cons
Age of Structures: Built in 1935, the existing structures are old and likely require significant capital investment for maintenance, upgrades, or demolition as part of a redevelopment strategy.
Small Residential Unit: The 2-bed/1-bath, 964 sqft single-family home is relatively small, which might limit its individual rental appeal or value if not part of a larger redevelopment.
Tenant Transition Logistics: While month-to-month leases offer flexibility, the process of transitioning or relocating existing tenants for redevelopment could incur costs or present logistical challenges.