San Jose 4-Plex Investment
450 Lewis RD, San Jose, CA 95111
Residential Multi Family, Other - San Jose, CA
Property size:
3,328 SFLot size:
0.23 AcresPrice / SF:
$465/SF- Added:
- Mar 20, 2026
- Days on Market:
- 68
- Last Refresh:
- May 26 at 9:06 pm
Property Features for 450 Lewis RD
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
- Standard status
- Active
- Size
- 3,328 SF
- Lot size
- 0.23 Acres
Taxes and HOA fees
- Expense value
- 108
- Expense
- Home Owner Assessments Fee
Building Details
- Year built
- 1962
- Architectural style
- Other
Listing agent Melinda Collins License #01178494,PersonLicenseNumber (408) 854-0828
Listing office NextHome Axis Realty 2690 S White Road, Suite 110, CA (408) 854-0828
Listing date Mar 20, 2026
MLS# ML82039715
Listing URL
Copyright © 2026 NextHome, 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
- Fully rented 4‑plex providing immediate rental income.
- Located in a safe and convenient neighborhood with high occupancy rates.
- Includes assigned carports with extra parking and shared laundry.
- Four 2‑bed/1‑bath units suitable for investors or owner‑occupiers.
- Value‑add potential through unit upgrades and market rent adjustments.
- Well‑maintained grounds ensured by HOA.
Overview
This well-maintained 4-unit building presents an investment opportunity. Located in a safe and convenient neighborhood, the property experiences consistent rental demand and features long-term tenants. The unit configuration includes four units, each with 2 bedrooms and 1 bathroom. The property includes assigned carports with extra parking spots, a shared laundry facility, and balconies or patios. Situated close to major employers, shopping, dining, schools, churches, and public transportation, the location is practical for families and ensures steady rental income and high occupancy rates. The property is part of an HOA that ensures clean and well-kept grounds. Some units offer value-add potential through upgrades, allowing for increased profitability through market rent adjustments or cosmetic improvements.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$936.7K
NOI $84,299 @ 9.00% cap · cautious / downside scenario
Moderate
$1.20M
NOI $84,299 @ 7.00% cap · market / base-case scenario
Aggressive
$1.69M
NOI $84,299 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $125.8k | $37.80 |
| − Vacancy | −$5.4k | −$1.61 |
| EGI | $120.4k | $36.19 |
| − OpEx | −$36.1k | −$10.86 |
| NOI | $84.3k | $25.33 |
3,328 SF · lease $37.80/SF/yr · vacancy 4.27% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $84,299 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$1.11M
$970.2K – $1.29M
NOI $77,613 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$2.00M
$1.75M – $2.33M
NOI $139,856 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- San Jose
- County
- Santa Clara
- State
- California
- Longitude
- -121.8399325
- Latitude
- 37.2959025
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Fully rented 4-unit building with upside potential in San Jose.
Where is this quadplex located?
The property is located at 450 Lewis RD San Jose, CA.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Fully rented 4‑plex providing immediate rental income.; Located in a safe and convenient neighborhood with high occupancy rates.; Includes assigned carports with extra parking and shared laundry.
