NOT LISTED FOR SALE

498 S Willard Ave San Jose, CA 95126

Buena Vista Neighborhood
9 Beds
4 Baths
2,374 Sq Ft
10,075 Sq Ft Lot

Last Sold May 10, 2022

Last sale price $2,000,000 $842 Per Sq Ft

78 Days on Market

Highlights

  • Corian Countertops
  • Ceiling Fan
  • 1-Story Property
  • Tile Flooring
  • Washer and Dryer
  • 4-minute walk to Buena Vista Park

About This Home

As of May 2022

SIGNIFICANT PRICE REDUCTION! One of kind, newly remodeled four, separate units! This unique property is one of the highest grossing fourplexes currently on the market. All houses on the property are stand-alone structures and were fully remodeled and completed in 2021. Capital improvements in each unit are ALL NEW (as of 2021) and include kitchens, bathrooms, heaters, lighting, fixtures, flooring, doors, windows, blinds, paint, ceiling fans and more! COMPLETELY REMODELED in 2020 & 2021. Renovations include: kitchens, bathrooms, floors, paint, double pane windows, appliances, roofs on units B & C, new or repaired and repainted siding, sealed asphalt parking lot, fenced in patios with pavers and furniture. All units reside on one 10,018 SF. All units are in excellent condition. Property zoned as R3. All units are legal. Approximately one mile from the planned Google Village. Offering Memorandum and reports available.

Last Agent to Sell the Property

Michael Shields

SiliconValley MultiFamilyGroup License #01327546 Listed on: 01/12/2022

Last Buyer's Agent

William Chea

Intero Real Estate Services License #01356171

Intero Real Estate Services

Property Details

Home Type

  • Multi-Family

Year Built

  • 1930

Lot Details

  • 10,075 Sq Ft Lot

Home Design

  • Quadruplex
  • Wood Frame Construction
  • Shingle Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 2,374 Sq Ft Home
  • 1-Story Property
  • Ceiling Fan
  • Washer and Dryer

Kitchen

  • Gas Oven
  • Microwave
  • Dishwasher
  • Corian Countertops
  • Tile Countertops

Flooring

  • Carpet
  • Laminate
  • Tile
  • Vinyl

Parking

  • 7 Parking Spaces
  • Covered Parking
  • Assigned Parking

Utilities

  • Wall Furnace
  • Vented Exhaust Fan
  • Separate Meters
  • Individual Gas Meter
  • Sewer Within 50 Feet

Listing and Financial Details

  • Total Actual Rent $128,880

Community Details

Overview

  • 2,374 Sq Ft Building

Building Details

  • 3 Leased Units
  • Insurance Expense $2,863
  • Maintenance Expense $725
  • Utility Expense $1,941
  • Trash Expense $1,679
  • Operating Expense $33,181
  • Gross Income $122,436

Property Details

Home Type

Multi-Family

Year Built

1930

Lot Details

0

Listing Details

  • Zoning: R3
  • Subclass: Fourplex
  • Age: 92
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 2374
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1930

Interior Features

  • Kitchen: Appliances - Vary By Unit, Countertop - Solid Surface / Corian, Countertop - Stone, Countertop - Tile, Dishwasher, Exhaust Fan, Microwave, Oven Range - Electric, Oven Range - Gas, Refrigerator, Varies By Unit
  • Living Sq Ft: 2374
  • Stories: 1
  • Laundry: Washer/Dryer - Some Units
  • Flooring: Carpet, Laminate, Tile, Vinyl / Linoleum

Exterior Features

  • Foundation: Concrete Perimeter
  • Roof: Shingle
  • Construction Type: Wood Frame

Garage/Parking

  • Parking Spaces: 7
  • Garage Parking Features: Assigned Spaces, Common Parking Area

Utilities

  • Cooling System: Ceiling Fan
  • Heating System: Wall Furnace
  • Sewer/Septic System: Sewer - Public, Sewer Connected, Sewer In Street

Schools

  • School District: San Jose Unified
  • Elementary School: Merritt Trace Elementary
  • Middle School: Herbert Hoover Middle
  • High School: Abraham Lincoln High
  • High School: 347
  • Elementary School: 381
  • Middle School: 340

Lot Info

  • Lot Acres: 0.2313
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 10077.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 10077.00

Rental Info

  • Existing Lease Term(s): 1 Year Lease
  • Gross Rent Multiplier: 15.50
  • Number Of Leased: 3

Multi Family

  • Utilities: Individual Electric Meters, Individual Gas Meters, Public Utilities
  • Expense Insurance: 2863
  • Expense Maintenance: 725
  • Expenses Total: 33181
  • Expenses Utility: 1941
  • Expense Trash: 1679
  • Income Annual Gross: 122436.00
  • Income Annual Rental: 128880
  • Income Gross Scheduled: 128880
  • Income Includes: Rents
  • Meters: Master Water, Separate Common Area, Separate Electric, Separate Gas
  • Number Of Buildings: 4
  • Operating Expenses Include: Fee - Property Tax, Insurance, Maintenance, Maintenance - Repair, Services - Sewer, Services - Trash Removal, Utilities
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Vacancy Factor: 5

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/10/2022 05/10/22 Sold $2,000,000 +0.1% $842 / Sq Ft
04/01/2022 04/01/22 Pending -- -- --
03/30/2022 03/30/22 Price Changed $1,998,000 -7.1% $842 / Sq Ft
01/12/2022 01/12/22 For Sale $2,150,000 +186.7% $906 / Sq Ft
04/30/2020 04/30/20 Sold $750,000 -37.5% $316 / Sq Ft
02/21/2020 02/21/20 Pending -- -- --
12/12/2019 12/12/19 For Sale $1,200,000 -- $505 / Sq Ft
Source: MLSListings

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Michael Shields

    Seller's Agent in 2022

    Michael Shields

    SiliconValley MultiFamilyGroup

    (408) 356-1900

    2 in this area

    36 Total Sales

    Michael Shields
    Section Image

  • W

    Buyer's Agent in 2022

    William Chea

    Intero Real Estate Services

    Section Image
  • Julie Ann Hedrick

    Seller's Agent in 2020

    Julie Ann Hedrick

    Cal-western Realty

    (408) 554-1818

    1 in this area

    45 Total Sales

    Julie Ann Hedrick
    Section Image
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Map

Source: MLSListings

MLS Number: ML81874232

MLSListings

APN: 277-19-001

California Santa Clara County San Jose 95126 Buena Vista

498 S Willard Ave, San Jose, CA

This home is located at 498 S Willard Ave, San Jose, CA 95126 since 12 January 2022. This property was built in 1930. 498 S Willard Ave is a home located in Santa Clara County with nearby schools including Merritt Trace Elementary, Herbert Hoover Middle School, and Abraham Lincoln High.

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