476 N 2nd St

San Jose, CA 95112

This property is for sale by owner. This property is most likely for a developer to restore or rebuild. Text me first to plan a time to discuss. To not call first. Victorian built in 1899. It is a duplex. Pictures show front, back, two bathrooms, living room, unfinished basement, unfinished attic. The property is not situated within a flood zone. "The subject property is in overall tear-down condition, with significant deferred maintenance throughout, and is being valued primarily for its land. Due to the extent of the physical deficiencies, the property is not considered eligible for conventional financing and would most likely appeal to an investor or developer intending to tear down or completely redevelop the site. Unit #476 is in poor condition, with notable issues including damaged flooring, visible ceiling and drywall damage in the kitchen, missing stove, broken windows, and a deteriorated enclosed patio/laundry area. The unit contains two bedrooms and two bathrooms. Unit #476 1/2 is in significantly worse condition than Unit #476. It exhibits severe deferred maintenance including missing drywall, exposed and unsafe electrical outlets, and a bathroom area that is boarded up and non-functional. There are stairs leading to an unfinished attic space, and the overall interior is not in a habitable state. Beneath the structure is a tall crawl space with dirt floors, partially partitioned to separate the units. This area is unimproved and not suitable for use or conversion without substantial renovation. Given the condition of both units-particularly the uninhabitable state of Unit 476 1/2-the property’s value lies mostly in the underlying land plus some improvements. Marketability is limited, and the indicated value reflects the property’s lower-end position within the local market. Unit #476 1/2 requires a substantial cost to cure, estimated at approximately $30,000, to restore it to a usable condition. The unit is currently incomplete, with missing drywall, a non-functional bathroom and kitchen, exposed wall studs, and no ceiling sheetrock throughout. There is a 200% marketability impact, therefore total cost to cure is $60,000."