1182 Leigh, San Jose, California 95126, San Jose, - bed, bath

home-pic
ACTIVE$1,899,999
1182 Leigh, San Jose, California 95126
0Bed
0Bath
3,500Sqft
7,159Lot
Year Built
1963
Close
-
List price
$1.9M
Original List price
$1.9M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
ML82014766
Home ConditionGood
Features
View-

About this home

Welcome to a rare turnkey investment in the heart of San Jose. This fully renovated 4 plex spans approximately 3,500 square foot and sits on a large 7,159 square foot lot, offering excellent income potential, long term upside, and minimal maintenance from day one. All four units have been recently upgraded with modern finishes and durable, low maintenance flooring, creating clean, attractive living spaces that appeal to quality tenants. Each unit is currently rented at market rates, ensuring immediate cash flow. The property is SB721 compliant, with permits and inspections fully approved by the City of San Jose, saving you time and future capital expense. Additional features include coin operated laundry with Shine Pay, generating passive income, and a towing contract to ensure parking remains reserved for tenants, a rare and valuable amenity in this area. Located near major freeways, shopping centers, public transit, and tech employers, this asset offers exceptional tenant demand and long term appreciation. With a strong CAP rate, stable occupancy, and pride of ownership condition, this is the kind of multifamily opportunity investors wait for and it wont last long.

Price History

Date
Event
Price
07/16/25
Listing
$1,899,999
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (1 Listings)
Beds00
Baths00
Square foot3,5003,782
50%
Lot Size7,1596,847
50%
Price$1.9M$1.81M
50%
Price per square foot$543$484
50%
Built year19639815982
100%
HOA
Days on market111157
50%
Condition Rating
Good

Despite being built in 1963, the property has undergone recent and extensive renovations, as stated in the description and evidenced by the images. The units feature new laminate flooring, fresh paint, and updated kitchens and bathrooms with modern, albeit basic, fixtures and appliances. While the kitchens have functional white appliances and simple wood cabinetry, and the bathrooms are clean with updated vanities and tile work, they are not high-end. The presence of window AC units instead of central HVAC prevents an 'Excellent' rating. However, the property is move-in ready, well-maintained, and requires no immediate renovations, aligning with the 'Good' condition criteria for a recently updated property.
Pros & Cons

Pros

Turnkey & Fully Renovated: The property is a 'rare turnkey investment' with all four units 'fully renovated' with modern finishes and low-maintenance flooring, ensuring minimal immediate capital expenditure for the new owner.
Strong Income & Appreciation Potential: Offers 'excellent income potential, long term upside,' with units 'currently rented at market rates' ensuring 'immediate cash flow,' supported by a 'strong CAP rate, stable occupancy,' and 'long term appreciation' due to its prime location.
Prime San Jose Location: Strategically 'located near major freeways, shopping centers, public transit, and tech employers,' which drives 'exceptional tenant demand' and contributes to long-term asset value.
Compliance & Reduced Future Risk: The property is 'SB721 compliant, with permits and inspections fully approved by the City of San Jose,' significantly reducing future legal and capital expenditure risks related to structural integrity.
Additional Income & Tenant Amenities: Includes 'coin operated laundry with Shine Pay, generating passive income,' and a 'towing contract to ensure parking remains reserved for tenants,' a valuable and rare amenity in the area.

Cons

Age of Building Infrastructure: Built in 1963, while units are renovated, the underlying core infrastructure (e.g., plumbing, electrical, roof, foundation) may be original or older, potentially leading to significant capital expenditures in the long term.
Lack of Specific Financial Transparency: The description mentions a 'strong CAP rate' and 'market rates' but lacks concrete financial data such as actual CAP rate, detailed rent roll, or operating expenses, which are crucial for a comprehensive investor analysis.
Limited Individual Unit Amenities: The property description does not mention individual unit amenities like in-unit laundry or air conditioning, which could be a competitive disadvantage in attracting certain tenants or commanding premium rents in the San Jose market.

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