October 11, 2007

cubicles – yes. kitchen or baths – no. $459k!

MLS-2.com: Property Details
480 S CAPITOL AV, SAN JOSE,CA,95127 – $459,900

cap.jpg3 Beds 1056 Sq.Ft. Aprx. 2 Car Garage MLS#: 752325
1.0 Baths 5,227 Lot Size 56 Yrs Old Aprx. List Date: 2007-09-17

Property has been gutted. no kitchen or baths. bring contractor! previous owner was possibly making office. cubicles throughout inside. Bank owned property

You know what this house would be great for? Starting a mortgage brokerage or real estate agency! Look, it’s already got some cubes going:

cap2.jpg

Just throw in a few phone lines, and presto – you too can have your own boiler room home based business!

Thanks to Patrick of MLS2 for finding this one!

Comments (8) -- Posted by: burbed @ 5:31 am

8 Responses to “cubicles – yes. kitchen or baths – no. $459k!”

  1. Sj Says:

    LOL! Great find. I’m just thinking of all the great illegal businesses that could be ran from here. Nigerian money laundering scams, stock pump & dumps, phone sex operator?

  2. ex-sunnyvale-renter Says:

    Oh yeah! There was at least one boiler-room type operation running 24/7 out of the Oak Pointe/Montclair apartments at 450 Mathilda in Slummyvale, this is a great opportunity! Build equity (after all RE only goes up!) and no nosy managers looking in on you. And, close to public transpo, I think the VTA goes by there?

    One often-ignored illegal biz is building circuits from cell phone jammers (illegal in the US) to various dish and satt TV hacking interfaces, spy stuff that goes into things from your computer keyboard to your kid’s teddy bear, all of this brings a good price and you can get assembly techs for $10 an hour. Modern electronics assembly isn’t smelly or loud, so that would work even if you’re not ROHS-compliant.

  3. sonarrat Says:

    Bank owned.. or seized by the ATF?

  4. Malcolm Says:

    Gorgeous. Just gorgeous.

    By the way, here is an equivalent house in Austin, Texas in the same price range:

    http://homes.realtor.com/prop/1089409375

    But, hey, who would want a pool, indoor jacuzzi, with mountain and lake views?

  5. ex-sunnyvale-renter Says:

    The ATF doesn’t sieze boiler-room operations, typically. The FCC could get involved with certain types of devices like cell phone jammers. I guess it would be the SEC that could crack down on a stock-trading boiler room operation, or the FBI if it was for instance a boiler-room dedicated to selling stuff on Ebay that doesn’t exist or running the Nigerian scam. There are also weird scams involving selling legal drugs, maybe calling up senior citizens or people off of doctors’ client lists and selling them drugs, which probably are either fakes or don’t even exist.

    Why, the possibilities are endless!

    And that is why prices in Silicon Valley always go up!

  6. jps Says:

    Maybe the bank repo’ed it after the crushing weight of zoning citations became too much to bear?

  7. Rufus Says:

    Forget Texas! The bank should give the buyer a credit to fix the place. Buzz out the cubes, lay down carpet, re-configure the outhouse and bingo! Instant equity.

  8. densityduck Says:

    SJ: Yes, that looks like a nascent call-center operation. You just work in shifts; morning shift is hotel reservations, evening shift is first-tier tech-support, night shift is phone sex.

    Indeed, depending on how carefully you hire, you could use the same staff for all three!

    As for the property itself…I’m amazed that the bank has the audacity to try and sell this. There wasn’t anything valuable about the place BEFORE it was converted to offices. The Bay Area is brim-full of places exactly like it, for the same price, and they already have bathrooms and kitchens.


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