Uninhabitable house on sale for $699,000 in 'prime' Bay Area location
SAN JOSE, Calif. (KGO) -- A seven-bedroom home in San Jose for $699,000 seems like a steal, right?
Well for a habitable home, sure, but that's not the case for 2161 Elliot Street which is actually condemned.
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"The property had a number of code violations that the county of Santa Clara deemed it unfit for human occupancy," said Robert Gosalves with Compass Real Estate.
It has seven bedrooms and sits right on the street corner. Neighbors say most of the homes in the area are around 100 years old. Gosalves says several people have put in offers and one is already pending. He says the property's location makes it desirable.
"Due to its prime location and zoning, this property not only attracted attention from DIYers, builders and investors," he said. "But also from those seeking mixed-use properties all eager to capitalize on the opportunity."
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Most single-family homes in San Jose sell for over $1,000,000. Even if this is below market value, Gosalves says it will require investment to make it a liveable home.
"Ultimately, the property will be sold to someone who will need to develop plans and obtain approval from the relevant authorities," he said.
