14862 Watters Drive, San Jose, California 95127, San Jose, - bed, bath

home-pic
ACTIVE$1,499,888
14862 Watters Drive, San Jose, California 95127
2Beds
1Bath
1,080Sqft
67,609Lot
Year Built
1946
Close
-
List price
$1.5M
Original List price
$1.5M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
ML82023249
Home ConditionTear down
Features
Excellent View:
Patio
View-

About this home

Incredible development opportunity with 1.5 acres of land and beautiful city views in San Joses East Foothills! This property includes two adjoining parcels (APN 601-31-062 & 601-31-061) being sold together, offering flexibility for developers, investors, or multi-generational living. Currently, the property features two separate structures: 2-bedroom, 1-bath home and another 2-bedroom, 1-bath home. Perfect for immediate rental income, extended family living, or redevelopment. Significant groundwork has already been completed toward new construction on APN 601-31-062, saving the future owner valuable time and resources. Couple steps left to obtain final building approval. New plans are for 5 bed / 3.5 bath and total living space of 2,508 sqft. Nestled in the serene San Jose foothills, this property offers quiet hillside living with easy access to freeways, shopping, schools, and downtown San Jose. With the added benefit of two parcels, the possibilities are endless expand, rebuild, or create your dream estate. Don't miss this unique chance to own a multi-parcel property with tremendous potential and permitting progress already underway!

Price History

Date
Event
Price
09/29/25
Listing
$1,499,888
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (64 Listings)
Beds23
14%
Baths12
23%
Square foot1,0801,447
23%
Lot Size67,6096,500
97%
Price$1.5M$1.09M
80%
Price per square foot$1,389$776
98%
Built year19461956
12%
HOA
Days on market37142
3%
Condition Rating
Tear down

Built in 1946, this property is explicitly marketed as a 'development opportunity' with 'new construction' plans already in progress. The existing structures, as depicted in the images, are extremely dated. The kitchens feature old tiled countertops, basic cabinets, and outdated appliances, while the bathrooms show vintage fixtures, a pink sink, and old-fashioned color schemes. There is no evidence of major renovations in the past 50 years. The property's value is clearly based on the land and its redevelopment potential, rather than the current unlivable or highly uncomfortable structures.
Pros & Cons

Pros

Exceptional Development Potential: Sprawling 1.5-acre multi-parcel lot explicitly positioned for significant redevelopment, offering flexibility for various projects.
Advanced Permitting Progress: Substantial groundwork and plans for a new 5-bed/3.5-bath, 2,508 sqft home are largely complete, saving future owners considerable time and resources.
Income-Generating/Multi-Family Capability: Features two existing 2-bedroom, 1-bath structures, providing immediate rental income or accommodating multi-generational living during redevelopment.
Prime Foothills Location: Situated in the serene San Jose foothills, offering beautiful city views and convenient access to major freeways, shopping, schools, and downtown.
Versatile Investment Opportunity: Ideal for developers, investors, or those seeking to build a custom estate, with options to expand, rebuild, or create a dream property.

Cons

Outdated Existing Structures: The current homes, built in 1946, are small and likely require extensive renovation or demolition to align with modern standards or the proposed new construction.
Pending Final Building Approval: While significant progress has been made, the description notes 'couple steps left to obtain final building approval,' indicating the permitting process is not yet fully finalized.
Substantial Capital Investment Required: The property's primary value lies in its development potential, implying a significant additional financial commitment beyond the purchase price for construction or extensive upgrades.

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