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5011 Lapa Dr, San Jose, California 95129, San Jose, - bed, bath

home-pic
ACTIVE$2,485,000
5011 Lapa Dr, San Jose, California 95129
0Bed
0Bath
Sqft
7,592Lot
Year Built
1963
Close
-
List price
$2.48M
Original List price
$2.48M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
41103002
Home ConditionFair
Features
View-

About this home

Great location with benefits of Cupertino Schools, easy commute to Hi Tech work, 280 FWY. Monthly Gross Rental Revenue $11,450 lowers ownership cost. Long term good tenants at near market rent. Award winning Cupertino schools. Ideal Unit mix 3BR 2BT (with Large private backyard), 3BR 1BT, and smaller units 2BR 1BT and 1BR 1BT with patios. John Mise Park and Mitty High School are nearby, Convenient to Lawrence Expressway, Highway 280, Stevens Creek Boulevard. Moments to Apple Spaceship Campus.Long term Owner / Property Manager can continue to manage at flat 5% of collected rent. Large 3BR unit on first (ground) floor, 3 units on Second floor. Ample street parking and surrounded by nice homes. . One units can be delivered for owner occupancy 30 days after COE. Prefer quick AS IS Sale

Price History

Date
Event
Price
06/27/25
Listing
$2,485,000
Neighborhood Comparison
 SubjectAverage HomeNeighbourhood Ranking (4 Listings)
Beds00
Baths00
Square foot03,841
Lot Size7,5927,740
40%
Price$2.48M$2.35M
60%
Price per square foot$0$612
Built year19631968
20%
HOA
Days on market131131
50%
Condition Rating
Fair
The property was built in 1963, making it over 60 years old. While some interior areas, specifically one kitchen and several rooms, show visible updates such as newer laminate/tile flooring, fresh paint, and updated kitchen cabinets, countertops, and some stainless steel appliances (range, microwave), the presence of an older white refrigerator and the overall aged appearance of the building's exterior and garage suggest that it has not undergone a full, extensive renovation across all units. The 'AS IS' sale preference also implies that there may be components or systems that are functional but show signs of being outdated or require minor repairs, aligning with the 'Fair' condition criteria.
Pros & Cons

Pros

Prime Location & Schools: Benefits from award-winning Cupertino schools, easy commute to Silicon Valley tech hubs (Apple Spaceship Campus), and major freeways (280 FWY, Lawrence Expressway).
Strong Rental Income & Stability: Generates $11,450/month in gross rental revenue with long-term, good tenants, significantly lowering ownership costs.
Versatile Unit Mix: Offers an ideal mix of units (3BR/2BT, 3BR/1BT, 2BR/1BT, 1BR/1BT) including a large 3BR unit with a private backyard and other units with patios, appealing to diverse renters.
Owner Occupancy Potential: One unit can be delivered for owner occupancy within 30 days of COE, providing flexibility for a buyer looking to live in one unit while collecting rent from others.
Professional Management Option: The long-term owner/property manager is willing to continue managing the property at a flat 5% of collected rent, offering a seamless transition for investors.

Cons

As-Is Sale Preference: The seller's preference for a 'quick AS IS Sale' suggests the property may require immediate repairs or updates, placing the burden and cost on the buyer.
Property Age: Built in 1963, the property's systems (plumbing, electrical, HVAC) and overall condition may be dated, potentially requiring significant capital expenditures for modernization or major repairs.
Limited Immediate Rent Upside: While tenants are long-term and good, the description states they are at 'near market rent,' indicating limited immediate opportunity for substantial rent increases to boost cash flow without significant unit renovations.

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