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    Four-Unit Multifamily Property with Carport Title is generated by Realmo AI

    2245 Royal DR, Santa Clara, CA 95050

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    New
    For Sale
    Under Contract
    $1,699,000

    MULTI_FAMILY - SANTA CLARA, CA

    Property size:
    2,534 SF
    Lot size:
    0.23 Acres
    Price / SF:
    $670/SF
    Added:
    Jun 2, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 4 at 1:06 pm

    Property Features for 2245 Royal DR

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R318
    Bedrooms
    4
    Rooms
    Bedroom 4, Bedroom 3, Bedroom 2, Bedroom 1
    Parking
    4
    Parking features
    Carport
    Appliances
    Cooktop - Electric, Exhaust Fan, Oven - Electric, Oven Range - Electric
    Standard status
    Active Under Contract
    Size
    2,534 SF
    Lot size
    0.23 Acres

    Utilities

    Heating system
    Radiant, Wall Furnace, Natural Gas
    Water source
    Public

    Building Details

    Year built
    1959
    Number of units
    4
    Roof type
    Shingle, Composition

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    Listing Contact
    Mark Von Kaenel
    Mark Von Kaenel

    Listing agent Mark Von Kaenel License #01189869

    Listing office KW Bay Area Estates 16780-A Lark Avenue, Los Gatos, CA

    Listing date Jun 2, 2026

    MLS# ML82047002 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

    • Well‑maintained four‑unit investment property at 2245 Royal Drive in Santa Clara
    • Each unit features 1 bedroom and 1 bath with 633 SF of living space per unit
    • Covered carport plus a covered patio area in the backyard
    • Utilities include public water; heating includes natural gas with radiant and wall furnace options
    • Kitchen appliances include electric cooktop, oven, and electric oven range; exhaust fan included
    • Roof features shingle/composition materials; year built 1959

    Overview

    2245 Royal Dr presents a well-maintained four-unit multifamily property. The building is configured with four separate one-bedroom, one-bath units, each with its own interior living space measuring 633 square feet. Outdoor amenities include a covered carport and a covered patio area in the backyard, supported by a manicured front yard that contributes to consistent curb appeal. The property totals 2,534 square feet of building area and sits on a 0.2339-acre lot, zoned R318.

    Located in Santa Clara, the property is described as being positioned near Santa Clara Town Center. The offering also notes easy access to major employers including Nvidia and ServiceNow, which can be attractive to tenants seeking commutes within the area.

    For buyers or operators seeking a small residential income asset, the four-unit layout offers multiple separate rental homes within a compact configuration. The combination of covered parking and covered outdoor space may support tenant comfort, while the one-bedroom, one-bath unit mix can align with demand from renters looking for a more manageable footprint. This is a for-sale opportunity at 2245 Royal Dr, Santa Clara, CA 95050.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Skin Care Clinic

    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
    -121.963955
    Latitude
    37.357676

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    FAQs

    What type of property is this?
    Quadplex - Well-maintained four-unit income property with covered parking and outdoor patio space.
    Where is this quadplex located?
    The property is located at 2245 Royal DR Santa Clara, CA.
    What is the asking price?
    The asking price for this property is $1,699,000.
    What are key features of this property?
    This property features: Well‑maintained four‑unit investment property at 2245 Royal Drive in Santa Clara; Each unit features 1 bedroom and 1 bath with 633 SF of living space per unit; Covered carport plus a covered patio area in the backyard
    (408) 568-6602
    We can help!
    Listing Contact
    Mark Von Kaenel
    Mark Von Kaenel
    Real Estate License ID: 01189869
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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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