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

home-pic
ACTIVE$1,688,000
464 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
ML81991389
Home ConditionFair
Features
Patio
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, including the 4-plex next door -- 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. The listing describes it as a 'well-maintained building' but also notes that 'Some units need cosmetic upgrades.' The provided exterior images show a building that appears to be kept up, with decent landscaping and a functional carport, but clearly shows its age. Without interior images, particularly of kitchens and bathrooms, it's impossible to assess their specific condition, but the mention of 'cosmetic upgrades' suggests they are likely dated and would benefit from renovation to meet current standards. The property is functional and maintained, but not updated, aligning with a 'fair' condition.
Pros & Cons

Pros

Strong Investment Opportunity: This fully rented 4-unit property offers consistent rental demand and long-term tenants, making it a stable and attractive addition to an investor's portfolio.
Value-Add Potential: Some units require cosmetic upgrades, presenting a clear opportunity for the new owner to renovate, raise rents, and significantly boost profitability.
Prime Location & High Occupancy: Conveniently located near major employers, shopping, dining, schools, and public transit in San Jose, ensuring high occupancy rates and tenant appeal.
Well-Maintained Community & Amenities: The building is well-maintained with a privately run HOA ensuring clean grounds, assigned carports, extra parking, shared laundry, and tenant-enjoyed balconies/patios.
Stable Income & Unit Configuration: Comprising four 2-bedroom, 1-bathroom units, the property is fully rented, providing immediate and reliable income streams for the investor.

Cons

High Association Fees: The property carries a significant association fee of $1288.0, which will impact the net operating income and overall cash flow for the investor.
Immediate Capital Expenditure: While offering value-add potential, the need for cosmetic upgrades in some units implies an immediate capital outlay for the buyer to realize higher rental income.
Recent Price Reductions: The listing has undergone multiple price reductions from its original list price of $1.78M to $1.688M, which could suggest market resistance or initial overpricing.

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