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    Victorian Duplex with Converted ADU Title is generated by Realmo AI

    1701 Market ST, Santa Clara, CA 95050

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    For Sale
    $3,200,000

    MULTI_FAMILY - SANTA CLARA, CA

    Property size:
    1,089 SF
    Lot size:
    0.17 Acres
    Price / SF:
    $2,938/SF
    Added:
    May 11, 2026
    Days on Market:
    25
    Last Refresh:
    Jun 4 at 7:06 am

    Property Features for 1701 Market ST

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R1
    Bedrooms
    4
    Rooms
    Bedroom 1, Bedroom 4, Bedroom 2, Bedroom 3
    Standard status
    Active
    Size
    1,089 SF
    Lot size
    0.17 Acres

    Utilities

    Heating system
    Central, Forced Air
    Cooling system
    Wall Unit(s)
    Water source
    Public

    Building Details

    Year built
    1900
    Flooring type
    Hardwood, Laminate, Carpet
    Roof type
    Composition

    We can help!

    Listing Contact
    Sandy Jamison

    Listing agent Sandy Jamison License #01847009

    Listing office Tuscana Properties 1875 S Bascom Avenue #2400, San Jose, CA

    Listing date May 11, 2026

    MLS# ML82043657 Listing URL

    Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Victorian home built in 1900 with a main house plus a detached garage converted to an ADU/cottage
    • Multiple tenants and income streams already in place, reported as generating over $11,000/month
    • Room layout includes Bedrooms 1 through 4
    • Central forced‑air heating with wall unit cooling
    • Hardwood, laminate, and carpet flooring
    • Public water supply and a composition roof

    Overview

    A turnkey Victorian income-producing property featuring a main house plus a detached garage converted into an ADU/cottage. The offering is described as 100+ years old and positioned as a multi-tenant setup with multiple tenants and income streams already in place. The property size is listed as 1,089 square feet, sitting on a 0.17-acre lot, and it is presented for sale in Santa Clara.

    The address is 1701 Market St in Santa Clara, California 95050, and the property is zoned R1. Public remarks note a short 7-minute walk to Santa Clara University, supporting year-round rental demand based on the stated proximity.

    For buyers or operators seeking a residential income property with flexible on-site configuration, this layout provides two distinct living components: the primary structure and the separate ADU/cottage created from the detached garage. The listing also states the property currently generates over $11,000 per month, which may appeal to investors looking for an operational rental setup rather than a repositioning project.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Santa Clara
    County
    Santa Clara
    State
    California
    Longitude
    -121.951021
    Latitude
    37.343348

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    FAQs

    What type of property is this?
    Duplex - Turnkey Victorian rental property with multiple tenants and an ADU conversion for additional income opportunities.
    Where is this duplex located?
    The property is located at 1701 Market ST Santa Clara, CA.
    What is the asking price?
    The asking price for this property is $3,200,000.
    What are key features of this property?
    This property features: Victorian home built in 1900 with a main house plus a detached garage converted to an ADU/cottage; Multiple tenants and income streams already in place, reported as generating over $11,000/month; Room layout includes Bedrooms 1 through 4
    (408) 214-8821
    We can help!
    Listing Contact
    Sandy Jamison
    Real Estate License ID: 01847009
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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