Turnkey Fourplex With Laundry
For Sale
$1,488,000
1105 Appian Ln, San Jose, CA 95116
Well-maintained fourplex with month-to-month tenants and coin-operated laundry for additional income.
Property Size3,328 SF
Price / SF$447.12
Days on Market130
Property Features for 1105 Appian Ln
General Information
Standard status
Active
Size
3,328 SF
Property subtype
Multi Family
Building Details
Year Built
1961
Listing Agency:
Prime Properties of Calif
Listed By:
Nick Khelawan · License #01095992
(510) 755-4663
Source:
Exitrealty
Added: Apr 29
Changed: Sep 1
Last Checked: Sep 5 at 7:10AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Prime Properties of Calif
Investment Insights
Based on property information with market context.
This turnkey fourplex offers four residential units that are well maintained and currently occupied by long-term tenants on month-to-month arrangements. Additional income is generated through coin-operated laundry.
Each unit includes a carport with two parking slots per tenant. The property is located off the freeway, close to shopping and schools.
Broker notes reflect walk, bike, and transit scores of 40, 49, and 48, respectively, indicating a more car-dependent setting with some transit availability.
Each unit includes a carport with two parking slots per tenant. The property is located off the freeway, close to shopping and schools.
Broker notes reflect walk, bike, and transit scores of 40, 49, and 48, respectively, indicating a more car-dependent setting with some transit availability.
Key Highlights
- Turnkey fourplex built in 1961 with long‑term tenants on month‑to‑month leases
- Total rent of $9,469 per month from four units
- Additional income from coin‑operated laundry on site
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$74,932
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.04%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,498,640
$1.5M
Cap Rate 7%
$1,070,457
$1.1M
Cap Rate 9%
$832,578
$832.6K
Market Conditions
NOI Build-Up for 3,328 SF
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.
Gross rent
$111.8K $33.60/SF
− Vacancy
−$4.8K −$1.43/SF
EGI
$107.0K $32.17/SF
− OpEx
−$32.1K −$9.65/SF
NOI
$74.9K $22.52/SF
Area
San Jose, CA
Vacancy
4.27%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,498,640
Cap Rate 7%
$1,070,457
Cap Rate 9%
$832,578
Alternative Uses
Best Use
Multifamily LT 5
$1.07M
$936.7K – $1.25M
NOI $74,932 @ 7.0% cap · market cap 5.04%
Second Best
Apartment 5plus
$988.9K
$865.3K – $1.15M
NOI $69,222 @ 7.0% cap · market cap 4.65%
Theoretical Best
Office A
$2.01M
$1.76M – $2.34M
NOI $140,692 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
985
Businesses Nearby
Explore this area
Business Placement
Demographics for 95116, CA
51,222
Population
13,987
Households
3.7
Avg Household Size
35
Median Age
21%
College-Educated
71%
High-School Grad
3.6 sq mi
ZIP Area
14,228
Density / Sq Mi
$83,428
Median Household Income
$41,992
Median Earnings
$2,049
Median Rent
$842,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained fourplex with month-to-month tenants and coin-operated laundry for additional income.
Where is this quadplex located?
The property is located at 1105 Appian Ln San Jose, CA.
What is the asking price?
The asking price for this property is $1,488,000.
What are key features of this property?
This property features: Turnkey fourplex built in 1961 with long‑term tenants on month‑to‑month leases; Total rent of $9,469 per month from four units; Additional income from coin‑operated laundry on site
