September 25, 2008

12 bedrooms, 4 baths in San Jose! For just $1.2 million

Welcome to the 4th day of San Jose week!

83 N 13th St, San Jose, CA 95112 Central San Jose MLS# 80786611 – Property Details
$1,195,000

* Status: Active
* Bedroom: 6
* Bathroom: 4
* Year Built: 1907
* Lot Size: 7084
* Square Footage: 4200
* List Date: 3/24/2008
* Garage Spaces: 1
* MLS#: 80786611
SPECTACULAR COMPLETELY REMODELED SINGLE FAMILY HOME WITH 12 SPACIOUS BEDROOMS AND 4 BEAUTIFULLY REMODELED BATHROOMS!GREAT RENTAL OPPORTUNITY TO SJSU STUDENTS AND SILICON VALLEY COMMUTERS!DETACHED GUEST COTTAGE!FULL FINISHED BASEMENT PLUS HUGE UPSTAIRS LOFT!GOURMET GRANITE KITCHEN!BRAND NEW LANDSCAPING!LARGE LOT!CLOSE TO ALL DOWNTOWN SJ HAS TO OFFER!AMAZING INVESTMENT OPPORTUNITY!MUST SEE!

I thought we’d take a break from some of those fantastic starter homes in San Jose to take a look at some of the higher end, more magnificent homes. This home totally reminds me of a European palace. Except in San Jose. And next to another house. And not in Europe.

Oh who am I kidding. This is another great opportunity for you investors… rent each room for $1500 a month – boom that’s $18,000 in cash flow a month! Wow, that’d totally cover the mortgage and more! A lot more! In fact, you could probably IPO this house with its amazing cash flow.

Comments (28) -- Posted by: burbed @ 5:16 am

28 Responses to “12 bedrooms, 4 baths in San Jose! For just $1.2 million”

  1. Alpha Beta Zeta Says:

    Burbed, I think you’re on to something. I looked at the map, and this place is right near San Jose State University. You could rent it out to a bunch of students… or better yet, turn it into one sweet fraternity house!

  2. nomadic Says:

    Your frat mascot better be a “little person.” It looks like the ceiling is about 5′ high in the attic room (see picture 5.)

  3. Herve Says:

    We should go tropical with this thing.

    Like sand from wall to wall. I know a great sand guy, we’ll get it at price.

    (Not Coleridge, not Voltaire, you figure it out)

  4. sonarrat Says:

    That’s a pretty amazing price, you could pay the same money for a smaller house in Tracy. Granted it would be on 3 acres out there.

  5. nomadic Says:

    Nice Herve, now you’ve stooped to quoting “Old School?”

  6. WillowGlenner Says:

    This area was the favorite place for investors to buy and do this in the bubble. It doesn’t say if this is an REO. This place was INCREDIBLY EXPENSIVE to remodel too. You would never, ever want to rent this out as rooms to students, that destroys a house, because what you need to do in those cases is take things like the laundry room and covert it to a bathroom but the underlying pipes can’t handle it. These houses originally were never built to house 20 people which is what you get if you make this into a frat house.

    The downtown San Jose area is very investable though. Not at this price but at the prices I like, its a great buy, because the area is gentrifying as San Jose turns into a real city, which has been going on for a few years now. A place on a large lot for 400K is a good buy here.

    BTW I don’t know if inventory is a casualty of the bailout plan or not but there has been NO, ZERO inventory in the areas and pricerange that I like to buy, for a month or two. There was an REO on Arrola ? in San jose between Meridian, HIllsdale and Foxworthy which is technically Cambrian I believe, it was 445LK sitting there forever, I was looking at it thinking they would drop it to 410 and it SOLD out from under me. Nothing new at all. Maybe the high end areas are having more activity. Since I use Wells Fargo for mortgages no mortgage issues for me, and rents CONTINUE to go up.

  7. RealEstater Says:

    WG,

    Which blocks of downtown do you like?

    Is this something you would consider:
    http://www.movoto.com/real-estate/homes-for-sale/CA/San-Jose/351-S-23rd-St-100_80807266.htm

  8. Mark Says:

    it’s not 12 bedrooms. i wont consider anything below 8 bedrooms.

  9. nomadic Says:

    Mark, the listing agent would beg to differ. Why do you say it doesn’t have 12 bedrooms?

    WG, it was purchased for $750k and refinanced for $855k. It isn’t bank owned but I guess could be pre-foreclosure. Not likely from what I can tell.

  10. nomadic Says:

    Here’s a bank-owned wreck in Los Gatos for just $20k less:
    http://www.redfin.com/CA/Los-Gatos/14550-BLOSSOM-HILL-Rd-95032/home/1220066

    The listing agent conceded the bank messed up the price on this one. The place reeks of urine. It was an assisted living place before foreclosure. The rooms are tiny but they’re all there. (I drive by the place often and dropped in on the open house out of morbid curiosity.)

  11. madhaus Says:

    Hey, I have a great idea! How about if a perky widow with 8 kids married a competent widower with 10 kids, and you could film it! All sorts of hijinx would ensue in a house with 18 kids!

    Wait, it’s already been done?
    Well, it hasn’t been done in Silicon Valley! They could have all kinds of subplots about real estate prices! The cute littler kids would bring flyers they grab on the way home from school, oh wait, they don’t let little kids walk home from school anymore. Okay, so there could be a foreclosure across the street, and the kids could put on a show to save the family. Wait, what’s this about credit default swaps?

  12. DensityDuck Says:

    “Gourmet Granite”? Mmmm, crunchy!

  13. WillowGlenner Says:

    Realestater, no thats on the wrong side. You need to get as west as possible. 24th street is McLauglin, thats east san jose, don’t go near there. West of 17th is where you need to be, another area is 4th and Taylor which is Japantown that is good. This burbed house I believe is in a good area down there, and there is another area developing right around Diridon station there.

    I’m actually not completely familiar with all the microdistricts in Downtown but I believe you can tell how much potential you have right when you drive down there. A good house in downtown right now is about 450K. Its hard to get a good one on a good lot for much less, you might be able to find something for $400 if its on a 4K lot with one bathroom. I think the high rents are placing a floor on some of these low end houses. The reason yours is a pretty nice house for 375K is it is just a little too far east.

  14. WillowGlenner Says:

    madhaus, now thats a great idea. The silicon valley version of yours mine and ours. Episode 1:Family fun ensues when one of the kids wants to wallpaper his room with his pre-IPO shares of friendster.com.

  15. Alex Says:

    WTF? How the hell did they get 12 bedrooms out of this? Did they split the 6 bedrooms in half?

  16. RealEstater Says:

    Alex,

    Do you know the difference between room and bedroom? When they say 12 rooms, it counts living room as a “room”.

  17. nomadic Says:

    There seems to be confusion over the listing stats of 6BR/4BA. The MLS tops out at 6 bedrooms and 4 bathrooms. That’s why you have to read the description to get the actual count. They are claiming 12 BEDrooms.

    Even with 4200sf I’m sure those bedrooms are small.

  18. Herve Says:

    > Nice Herve, now you’ve stooped to quoting “Old School”

    Stooped? Come on, it’s a great movie! Francois-Marie and Arnaud would have approved.

  19. madhaus Says:

    The real estate definition of bedroom is that it has to have a closet and a door you can close. That’s it. If it doesn’t have the closet, it’s a bonus room. The only exception are really old houses before the days of built-in closets. But if you have a room you are using as a bedroom with no closet, it’s technically an “office” or “bonus room.”

    Note that the “closet” does not have to be used as a closet as long as you can easily turn it back into one.

  20. DreamT Says:

    I for one would never, NEVER sleep in a bedroom that does not have a closet. I’d fear the wrath of Bedroom Witch.

  21. nomadic Says:

    Last I heard, you need a door, closet and a second mode of egress – usually a window – to call it a bedroom.

  22. Herve Says:

    > Last I heard, you need a door, closet and a second mode of egress – usually a window – to call it a bedroom.

    Note that you don’t even need a bed. How incongruous! :-)

  23. madhaus Says:

    Window. Hmmph. LUXURY!


    FOURTH YORKSHIREMAN:
    I was happier then and I had nothin’. We used to live in this tiny old house with great big holes in the roof.
    SECOND YORKSHIREMAN:
    House! You were lucky to live in a house! We used to live in one room, all twenty-six of us, no furniture, ‘alf the floor was missing, and we were all ‘uddled together in one corner for fear of falling.
    THIRD YORKSHIREMAN:
    Eh, you were lucky to have a room! We used to have to live in t’ corridor!
    FIRST YORKSHIREMAN:
    Oh, we used to dream of livin’ in a corridor! Would ha’ been a palace to us. We used to live in an old water tank on a rubbish tip. We got woke up every morning by having a load of rotting fish dumped all over us! House? Huh.
    FOURTH YORKSHIREMAN:
    Well, when I say ‘house’ it was only a hole in the ground covered by a sheet of tarpaulin, but it was a house to us.
    SECOND YORKSHIREMAN:
    We were evicted from our ‘ole in the ground; we ‘ad to go and live in a lake.
    THIRD YORKSHIREMAN:
    You were lucky to have a lake! There were a hundred and fifty of us living in t’ shoebox in t’ middle o’ road.
    FIRST YORKSHIREMAN:
    Cardboard box?
    THIRD YORKSHIREMAN:
    Aye.
    FIRST YORKSHIREMAN:
    You were lucky. We lived for three months in a paper bag in a septic tank. We used to have to get up at six in the morning, clean the paper bag, eat a crust of stale bread, go to work down t’ mill, fourteen hours a day, week-in week-out, for sixpence a week, and when we got home our Dad would thrash us to sleep wi’ his belt.
    SECOND YORKSHIREMAN:
    Luxury. We used to have to get out of the lake at six o’clock in the morning, clean the lake, eat a handful of ‘ot gravel, work twenty hour day at mill for tuppence a month, come home, and Dad would thrash us to sleep with a broken bottle, if we were lucky!
    THIRD YORKSHIREMAN:
    Well, of course, we had it tough. We used to ‘ave to get up out of shoebox at twelve o’clock at night and lick road clean wit’ tongue. We had two bits of cold gravel, worked twenty-four hours a day at mill for sixpence every four years, and when we got home our Dad would slice us in two wit’ bread knife.
    FOURTH YORKSHIREMAN:
    Right. I had to get up in the morning at ten o’clock at night half an hour before I went to bed, drink a cup of sulphuric acid, work twenty-nine hours a day down mill, and pay mill owner for permission to come to work, and when we got home, our Dad and our mother would kill us and dance about on our graves singing Hallelujah.
    FIRST YORKSHIREMAN:
    And you try and tell the young people of today that ….. they won’t believe you.
    ALL:
    They won’t!

    Where did you get this definition? I’ve checked a number of sites, and they only mentioned the closet.

  24. nomadic Says:

    I didn’t find it on a site. Just one more bit of trivia I’ve picked up along the way. I don’t call myself “nomadic” for nothing!

    Anyway, brush up on your Google skills. :-) I found several sites, but this one sums it up best:
    http://www.realestate-articles.com/articles/whatbed.htm

  25. rick Says:

    So now even university students can pay $1500 rent? I know one, but her dad owns companies and she shares a house with another girl in SF.

    Students in SJSU are usually poor and you can simply take a look driving around it and walking there. Once knew someone lived in this kind of dorm like houses, the rooms feel like a brothel. Co-ops are at least clean and stairs not crumbling. Go figure how much students can pay there.

  26. sonarrat Says:

    I knew someone at SJSU who lived in a co-op. I doubt very much he paid more than $500 a month, if that.

  27. rick Says:

    co-op is more expensive, better managed, and better than this kind of private landlord. I think that (very) old landlord I knew were having affairs with tenants. Sick to my stomach sometimes thinking about this.

  28. Alex Says:

    RealEstater, once again you prove what a moron you are. Typical douchebag realtor!

    I very well know the difference between a bedroom and a plain old room. A bedroom is where I bang your wife. Wait, I do that in a room too.

    QUOTE: “SPECTACULAR COMPLETELY REMODELED SINGLE FAMILY HOME WITH 12 SPACIOUS BEDROOMS AND 4 BEAUTIFULLY REMODELED BATHROOMS!”

    Again, how the hell did they get 12 bedrooms out of this POS?


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