1391 State Street, Alviso, California 95002, Alviso, - bed, bath

home-pic
ACTIVE$1,750,000
1391 State Street, Alviso, California 95002
3Beds
2Baths
1,733Sqft
15,000Lot
Year Built
1940
Close
-
List price
$1.75M
Original List price
$1.88M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
ML82024326
Home ConditionPoor
Features
Good View: Bay, Mountain(s), Neighborhood
ViewBay, Mountain(s), Neighborhood

About this home

Beautiful Home! Potential Abounds. Property is PUD Approved for 3 new homes of +/-2,296sq ft, 2,494 sq. ft. and 2,595 sq. ft. Plans are available. Rare opportunity with plans. Two adjacent Parcels offered for sale 015-12-031 and 015-12-032. A third parcel 015-12-006 is possibly also available for sale. The main residential property has two rental income streams at this time (main home and attached second unit). The main home and the guest unit are occupied and very livable and adorable. Seller will deliver the property vacant. The owner had the property approved for three new builds, Designs and plans are available.. See pictures of proposed new builds that are in the area now. The property can provide single family use with an ADU, three new builds or even a main home with storage, vehicle parking and or work yard. . Currently offering 2 parcels (12,000 + 3,000 = 15,000) 15,000 S.F. but a third parcel of an additional 3,000 S.F. also exists for a total of 18,000 S.F. in land square footage..

Price History

Date
Event
Price
10/11/25
Price Change
$1,750,000-6.7%
10/09/25
Listing
$1,875,000
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (1 Listings)
Beds33
50%
Baths22
50%
Square foot1,7331,643
50%
Lot Size15,00010,500
50%
Price$1.75M$1.5M
50%
Price per square foot$1,010$910.5
50%
Built year19409700996
50%
HOA
Days on market2743
50%
Condition Rating
Poor

The property was built in 1940, making it 84 years old. While the description states it is 'very livable and adorable,' it also explicitly notes that the existing structure 'may require significant renovation or demolition' and that the property's value is 'heavily weighted towards the land and development potential rather than the current dwelling.' This indicates that the current home, despite being occupied, is severely outdated and would require substantial repairs and rehabilitation to meet modern standards. Without interior photos, it's safe to assume the kitchen and bathrooms are original or last updated decades ago, lacking contemporary features, styles, and efficiency. The emphasis on redevelopment potential over the existing structure's value aligns with a 'poor' condition, where major components would require significant upgrades or replacement, even if not immediately unsafe.
Pros & Cons

Pros

Development Ready: The property is PUD approved for three new homes (2,296 sq ft, 2,494 sq ft, and 2,595 sq ft) with plans readily available, offering a rare and significant development opportunity.
Substantial Land Size: Comprises two adjacent parcels totaling 15,000 sq ft, with the potential to acquire a third parcel for a total of 18,000 sq ft, providing ample space for multiple builds or extensive private use.
Current Income Streams: The existing main home and attached second unit are occupied and generate two rental income streams, offering immediate cash flow or offsetting holding costs during development.
Versatile Use Potential: Beyond new construction, the property offers flexibility for single-family use with an ADU, or as a main home with storage, vehicle parking, or a work yard, catering to diverse buyer needs.
Scenic Views: The property boasts desirable views of the Bay, Mountains, and surrounding neighborhood, enhancing its aesthetic appeal and potential future value.

Cons

Age of Existing Structure: Built in 1940, the current residential structure is older and, despite being livable, may require significant renovation or demolition to align with the property's high development potential.
High Capital Investment Required: While PUD approved, realizing the full potential of three new homes will necessitate substantial additional capital investment beyond the purchase price for construction costs.
Price Point for Existing Home: The $1.75M list price, even after a reduction, is substantial for a 1940-built 1733 sqft home, indicating the value is heavily weighted towards the land and development potential rather than the current dwelling, potentially limiting appeal to buyers not focused on redevelopment.

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