7-bedroom house in San Jose hits market for less than $700K

SAN JOSE, Calif. (KRON) — A 7-bedroom house in San Jose hit the market for $699,000. But of course, there’s a catch. The multi-unit home at 2161 Elliott Street is condemned by the county.

2161 Elliott Street is “where potential meets possibility in the vibrant setting of the Burbank neighborhood,” a Zillow real estate listing writes. The 1,250-square-foot bright blue house was built on a lot that is nearly 4,000 square feet, according to the listing.

The uninhabitable house will be sold “as-is,” leaving the remodeling, demolition, and rebuilding responsibilities to the new owner. Santa Clara County officials deemed the home as “unfit for human occupancy” because of several code violations, real estate agent Robert Gosalvez told KRON4.

It offers a “blank canvas for those with a vision to rehabilitate and transform it into a desirable residence,” the Zillow listing writes. “While the property’s physical structure presents challenges, the allure of this sought-after location and its endless potential make it a compelling opportunity for those looking to make their mark in the heart of San Jose.”

Potential buyers are encouraged to make all-cash offers. The property has been on the market since May 16. On Monday afternoon, a Compass real estate sign posted outside read, “Sale pending.”

Gosalvez told the San José Spotlight that 2161 Elliott Street received offers above asking price.

Gosalvez told KRON4 on Monday that the listing attracted attention from builders, investors, and people seeking mix-use properties.

“The level of interest while on the market was substantial, leading to the distribution of dozens of disclosure packages and resulting in seven offers, all of which were either cash or have access to hard money loans,” Gosalvez said.

“Ultimately, the property will be sold to someone who will need to develop plans and obtain approval from the relevant authorities. I believe in a couple years or less, we will see a modern, attached, multi unit property on this lot,” Gosalvez said.