kpix-7-2013-masthead kcbs 7-2013-masthead

Latest News

Abandoned, Burned Out San Jose Home Sparks Bidding War

View Comments
This home on South Seventh Street in San Jose was heavily damaged in a fire in 2012. It has been placed on the market for $399,000. (CBS)

This home on South Seventh Street in San Jose was heavily damaged in a fire in 2012. It has been placed on the market for $399,000. (CBS)

(CBS) Betty Yu
Betty Yu joined KPIX 5 in November 2013 as a general assign...
Read More

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up
Trending Stories On CBS SF

photo Abandoned, Burned Out San Jose Home Sparks Bidding WarInsurer Admits Nearly 1,000 Doctors Wrongly Placed On Covered California Provider List

chester pic Abandoned, Burned Out San Jose Home Sparks Bidding WarRemains Of Deadly 1888 SF Bay Shipwreck Located Near Golden Gate Bridge

covered california1 Abandoned, Burned Out San Jose Home Sparks Bidding WarSome Covered California Patients Say They Can’t See A Doctor

levis stadium Abandoned, Burned Out San Jose Home Sparks Bidding WarLack Of Parking Means No Monday Night Football At Levi’s Stadium

sf fire2 Abandoned, Burned Out San Jose Home Sparks Bidding WarFirefighter Hurt In 3-Alarm Fire In San Francisco Duboce Triangle; 3 Buildings Damaged

SAN JOSE (KPIX 5) — A San Jose home that was abandoned for years before being gutted in a fire has sparked a bidding war. Potential buyers told KPIX 5 that they are ready to pay more than the $399,000 asking price.

The home on South Seventh Street may be burned out and boarded up, but it needs no brochures or pretty photos to attract a list of potential buyers with all-cash offers.

“We look at it as a thing of beauty actually, we really take great pleasure in renovating homes in a variety of conditions,” said potential buyer Michael Kaufman.

Mark Garrison, another potential buyer, told KPIX 5, “I would consider this dirt, is what really it is. It’s a good location near the San Jose State University campus.”

The Victorian-style, 2,000-plus square foot home built in 1895 was severely damaged in a fire back in 2012. Before that, the home sat abandoned for years.

Over the summer, the current owner paid nearly $400,000, hoping to develop it into student housing. She ran into some financial trouble, so it’s back on the market.

“I can’t remember anything like this in this condition that’s attracted this kind of attention,” said Bernie Sinsay, a realtor with Legacy Real Estate and Associates, who represents two bidders.

“You know, the old adage of location, location, location is very key to this property,” Sinsay said.

Garrison, who runs a design, engineering and construction firm, is one of Sinsay’s clients. If his bid is accepted, Garrison said his vision for the property would have the university population in mind. “To turn it into something, because of proximity to the campus, where students could take advantage of it,” he said.

He is up against several bidders, including Silicon Valley Home, which is part of a new HGTV show “Flip it to Win it” set to air next spring.

Kaufman had a different idea if his bid is accepted. “We’ll make it a beautiful stunning period-specific renovation into a single family residence,” he said.

Bids will be accepted by the homeowner until 6 p.m. Thursday. The homeowner said she hopes to close by Christmas.

(Copyright 2013 by CBS San Francisco. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

View Comments
blog comments powered by Disqus