65 E 2nd Street, Morgan Hill, California 95037, Morgan Hill, - bed, bath
ACTIVE UNDER CONTRACT$899,000
65 E 2nd Street, Morgan Hill, California 95037
3Beds
2Baths
876Sqft
5,227Lot
Year Built
1900
Close
-
List price
$899K
Original List price
$899K
Price/Sqft
-
HOA
-
Days on market
459 Days
Sold On
2025-08-31
MLS number
ML81967577
Home ConditionTear down
Features
View-
About this home
Location! Location! Location! Nestled in the Heart of Downtown Morgan Hill, this diamond-in-the-rough presents a golden opportunity for savvy investors and developers as zoning is suitable for commercial and/or residential use. Seize this rare opportunity to transform this land into a fantastic investment that has potential to become a cornerstone of Morgan Hill's vibrant Downtown ambiance
Price History
Date
Event
Price
05/29/24
Listing
$899,000
Neighborhood Comparison
| Subject | Average Home | Neighbourhood Ranking (128 Listings) | |
|---|---|---|---|
| Beds | 3 | 4 | 34% |
| Baths | 2 | 3 | 30% |
| Square foot | 876 | 2,260 | 2% |
| Lot Size | 5,227 | 8,584 | 20% |
| Price | $899K | $1.43M | 7% |
| Price per square foot | $1,026 | $666 | 98% |
| Built year | 1900 | 1990 | 1% |
| HOA | |||
| Days on market | 525 | 146 | 98% |
Condition Rating
Tear down
Built in 1900, this 124-year-old property is explicitly described as a 'diamond-in-the-rough' and an opportunity for 'investors and developers' to 'transform this land.' This language strongly suggests the value lies in the land and its redevelopment potential, not the existing structure. The complete absence of interior photos further indicates that the current structure is likely unlivable or requires demolition, aligning with the 'tear-down' criteria.
Pros & Cons
Pros
Prime Downtown Location: Nestled in the 'Heart of Downtown Morgan Hill,' offering high visibility, foot traffic, and excellent accessibility for future commercial or residential ventures.
Flexible Zoning: Zoning is suitable for both commercial and/or residential use, providing diverse development options and maximizing investment potential.
Significant Development Opportunity: Marketed as a 'golden opportunity' for savvy investors and developers to transform the land into a cornerstone of the vibrant downtown.
Investment Potential: Clearly positioned as a high-potential investment for those looking to capitalize on urban revitalization and mixed-use development.
Strategic Lot Size: The 5,227 sqft lot size is substantial for a downtown property, allowing for significant redevelopment or expansion possibilities.
Cons
Extended Days on Market: With 459 days on market, the property has struggled to sell, potentially indicating an aggressive price, underlying issues, or limited buyer pool.
Poor Current Condition: Described as a 'diamond-in-the-rough' and built in 1900, implying the existing structure requires substantial renovation, demolition, or significant capital investment.
Small Existing Structure: The 876 sqft existing building is very small for a 3-bed, 2-bath property, suggesting its primary value is in the land and redevelopment potential rather than the current structure.