1966 Almaden Rd, San Jose, CA, CA 95125

Property Description

Exceptional opportunity to acquire a highly desirable property in the heart of San Jose with multiple value-add possibilities. Situated on approximately 12,426± SF (0.29± acres), this versatile property is ideal for developers, investors, or owner-users. Whether you're looking to build a custom dream home on a spacious lot, renovate the existing residence, hold it as an income-producing rental, or pursue a multifamily development, this property offers outstanding flexibility and long-term upside. For developers, the property includes plans for a proposed five-story, 27-unit apartment community totaling approximately 44,188± SF of gross building area. The proposed project features a mix of one- and two-bedroom residences, 31 structured parking spaces, a rooftop amenity deck, EV charging infrastructure, bicycle parking, elevator access, a controlled-access garage, and contemporary architectural design. The seller has already invested significantly in advancing the project by completing and paying for numerous professional studies, engineering, and entitlement-related services, including architectural design, civil engineering, landscape architecture, joint trench design, construction cost analysis, underground utility locating, BOV services, MEP engineering, arborist report, architectural historian assessment, City of San Jose application and review fees, environmental analysis, Transportation Demand Management (TDM) Plan, and transportation analysis. This extensive due diligence and pre-development work represents substantial time and cost savings for a future buyer. Ideally located near Downtown San Jose, Willow Glen, Highways 87 and 85, major Silicon Valley employers, shopping, dining, parks, and public transportation, the property offers exceptional accessibility and is positioned within one of Silicon Valley's strongest residential markets. Buyer to independently verify all property information, zoning, development potential, permits, approvals, reports, plans, and the transferability and status of all development documents with the City of San Jose and the applicable consultants. Development plans and supporting documents are available upon request.