450 Lewis Road, San Jose, California 95111, San Jose, - bed, bath

home-pic
ACTIVE$1,688,000
450 Lewis Road, San Jose, California 95111
0Bed
0Bath
3,328Sqft
9,945Lot
Year Built
1962
Close
-
List price
$1.69M
Original List price
$1.78M
Price/Sqft
-
HOA
$1,288
Days on market
-
Sold On
-
MLS number
ML81991369
Home ConditionFair
Features
Deck
View-

About this home

Back on the market! Fully rented 4-unit investment opportunity with upside potential. This well-maintained building is a great addition to any investors portfolio, offering consistent rental demand, long-term tenants, and room to grow your profits. Property Highlights ** Unit Configuration: Four 2-bed/1-bath unitsideal for owner-occupiers or investors ** Well-Maintained Community - Privately run HOA ensures clean, well-kept grounds; assigned carports plus extra parking; shared laundry facility; tenant-enjoyed balconies/patios ** Prime Convenience - Close to major employers, shopping, dining, schools, churches, and public transitperfect for families and high occupancy rates ** Value-Add Potential - Some units need cosmetic upgrades, presenting an opportunity to raise rents and boost profitability This property is a solid investment for seasoned investors or first-time buyers entering the multi-family market.

Price History

Date
Event
Price
09/10/25
Price Change
$1,688,000-2.9%
08/21/25
Price Change
$1,738,000
01/22/25
Listing
$1,780,000
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (1 Listings)
Beds00
Baths00
Square foot3,3282,305
50%
Lot Size9,9457,923
50%
Price$1.69M$1.29M
50%
Price per square foot$507$604.5
50%
Built year19629805981
100%
HOA$1,288
0%
Days on market287199
50%
Condition Rating
Fair

The property was built in 1962, making it over 60 years old. While the description states it's a 'well-maintained building' with 'clean, well-kept grounds,' it also explicitly mentions that 'some units need cosmetic upgrades' and have 'Value-Add Potential.' This indicates that while the major systems are likely functional, the interior finishes, including kitchens and bathrooms, are dated and require updates to meet current standards and maximize rental income. The exterior images show a building consistent with its age, with some visible patching on the stucco, suggesting ongoing maintenance but not a recent comprehensive renovation. This aligns with the 'Fair' condition criteria, where the home is aged but maintained, and major components are functional but show signs of being outdated.
Pros & Cons

Pros

Strong Investment Opportunity: This fully rented 4-unit property offers consistent rental demand, long-term tenants, and significant upside potential, making it a solid addition to any investor's portfolio.
Desirable Unit Configuration: Comprising four 2-bedroom/1-bathroom units, the property caters to a broad tenant base and is ideal for both investors and potential owner-occupiers.
Well-Maintained Community & Amenities: A privately run HOA ensures clean, well-kept grounds, complemented by assigned carports, extra parking, a shared laundry facility, and tenant-enjoyed balconies/patios.
Prime San Jose Location: Its convenient location close to major employers, shopping, dining, schools, and public transit ensures high occupancy rates and tenant appeal.
Significant Value-Add Potential: The opportunity to perform cosmetic upgrades on some units presents a clear path to raise rents and boost overall profitability for the new owner.

Cons

High Association Fees: The monthly association fee of $1,288 is substantial and could impact the net operating income for investors or the overall affordability for an owner-occupier.
Property Age: Built in 1962, the property is over 60 years old, which may suggest potential for older building systems (e.g., plumbing, electrical) that could require future capital expenditures.
Required Cosmetic Upgrades: While offering value-add potential, the stated need for cosmetic upgrades in some units represents an immediate additional investment and project management for the buyer.

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