Remodeled 4-Unit
New
For Sale
$1,588,000
1179 Mesa Dr, San Jose, CA 95118
Two-bedroom residences offer private outdoor space and dedicated covered carport parking.
Property Size3,364 SF
Days on Market6
Property Features for 1179 Mesa Dr
General Information
Standard status
Active
Size
3,364 SF
Total Parking Spaces
3
Property subtype
Multi Family Home
Zoning
R3H
Additional Details
Highway Access
Yes
Multifamily Units
4
Amenities
private balcony or yard space
covered carport parking
Building Details
Building Size
3,364 SF
Year Built
1963
Buildings
1
Stories
2
Listing Agency:
Magnify Real Estate
(916) 548-6515
Listed By:
Will Riley · License #02155155
(916) 548-6515
Source:
Dualprideproperties
Added: Aug 6
Changed: Aug 11
Last Checked: Aug 11 at 1:57PM
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 Magnify Real Estate
Investment Insights
Based on property information with market context.
The property is a 4-unit quadplex built in 1963, with a consistent mix of 2-bedroom/1-bathroom residences. One unit has been newly remodeled, while each residence includes either a private balcony or private yard space. Dedicated covered carport parking serves the property, and the zoning designation is R3H.
Located at 1179 Mesa Dr in San Jose, the property is positioned near Almaden Plaza and Whole Foods, with retail, dining, and daily conveniences nearby. Almaden Expressway and Highway 85 provide access to major corridors and surrounding Silicon Valley employment centers.
Located at 1179 Mesa Dr in San Jose, the property is positioned near Almaden Plaza and Whole Foods, with retail, dining, and daily conveniences nearby. Almaden Expressway and Highway 85 provide access to major corridors and surrounding Silicon Valley employment centers.
Key Highlights
- 4‑unit quadplex with a 2‑bedroom/1‑bathroom unit mix
- One unit newly remodeled
- Each unit includes a private balcony or yard space
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
$75,743
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
4.77%
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%
$1,514,860
$1.5M
Cap Rate 7%
$1,082,043
$1.1M
Cap Rate 9%
$841,589
$841.6K
Market Conditions
NOI Build-Up for 3,364 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
$113.0K $33.60/SF
− Vacancy
−$4.8K −$1.43/SF
EGI
$108.2K $32.17/SF
− OpEx
−$32.5K −$9.65/SF
NOI
$75.7K $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%
$1,514,860
Cap Rate 7%
$1,082,043
Cap Rate 9%
$841,589
Alternative Uses
Best Use
Multifamily LT 5
$1.08M
$946.8K – $1.26M
NOI $75,743 @ 7.0% cap · market cap 4.77%
Second Best
Apartment 5plus
$999.6K
$874.6K – $1.17M
NOI $69,971 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$2.03M
$1.78M – $2.37M
NOI $142,214 @ 7.0% cap · market cap 8.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
987
Businesses Nearby
Explore this area
Business Placement
Demographics for 95118, CA
32,764
Population
11,941
Households
2.7
Avg Household Size
40
Median Age
53%
College-Educated
94%
High-School Grad
4.1 sq mi
ZIP Area
7,991
Density / Sq Mi
$148,438
Median Household Income
$80,817
Median Earnings
$2,488
Median Rent
$1,377,000
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 - Two-bedroom residences offer private outdoor space and dedicated covered carport parking.
Where is this quadplex located?
The property is located at 1179 Mesa Dr San Jose, CA.
What is the asking price?
The asking price for this property is $1,588,000.
What are key features of this property?
This property features: 4‑unit quadplex with a 2‑bedroom/1‑bathroom unit mix; One unit newly remodeled; Each unit includes a private balcony or yard space
