Four-Unit Multifamily with Private Outdoor
1179 Mesa Drive San Jose, CA 95118
1179 Mesa Drive, San Jose, CA, 95118
$1,625,000
For Sale
$1,625,000
Four 2-bedroom, 1-bath units with private balcony or yard space, plus dedicated covered carport parking.
Property Size3,364 SF
Price / SF$483.06
Days on Market27
Property Features for 1179 Mesa Drive
General Information
- Standard status
- Active
- Size
- 3,364 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1963
Listing agency
Magnify Real Estate
(916) 548-6515
Listed by
Will Riley · License #02155155
(916) 548-6515
Source
Exitrealty
Added: Jun 25 Updated: Jul 21 at 1:54AM Checked: Jul 21 at 3:06AM
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.
This four-unit residential income property offers a unit mix of spacious 2-bedroom, 1-bathroom floorplans. One unit is newly remodeled, creating flexibility for an owner-occupant buyer or a tenant-ready option for an investor. The layout is designed so each unit has its own private balcony or yard space, supporting day-to-day outdoor use.
The property includes dedicated covered carport parking for residents. It is located just blocks from Almaden Plaza and Whole Foods, with easy access to major corridors including Almaden Expressway and Highway 85.
Overall, the asset presents a functional, unit-by-unit living arrangement within a convenient South San Jose retail and commuting corridor.
The property includes dedicated covered carport parking for residents. It is located just blocks from Almaden Plaza and Whole Foods, with easy access to major corridors including Almaden Expressway and Highway 85.
Overall, the asset presents a functional, unit-by-unit living arrangement within a convenient South San Jose retail and commuting corridor.
Key Highlights
- 1963‑built 4‑unit multifamily property with four 2‑bedroom/1‑bath units
- One unit newly remodeled for an owner‑occupant or investor to capture full market rent
- Each unit features private outdoor space, with a private balcony or yard
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $113.0k | $33.60 |
| − Vacancy | −$4.8k | −$1.43 |
| EGI | $108.2k | $32.17 |
| − OpEx | −$32.5k | −$9.65 |
| NOI | $75.7k | $22.52 |
3,364 SF · lease $33.60/SF/yr · vacancy 4.27% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.08M
$946.8K – $1.26M
NOI $75,743 @ 7.0% cap · market cap 4.66%
Second Best
Apartment 5plus
$999.6K
$874.6K – $1.17M
NOI $69,971 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$2.03M
$1.78M – $2.37M
NOI $142,214 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four 2-bedroom, 1-bath units with private balcony or yard space, plus dedicated covered carport parking.
Where is this quadplex located?
The property is located at 1179 Mesa Drive San Jose, CA.
What is the asking price?
The asking price for this property is $1,625,000.
What are key features of this property?
This property features: 1963‑built 4‑unit multifamily property with four 2‑bedroom/1‑bath units; One unit newly remodeled for an owner‑occupant or investor to capture full market rent; Each unit features private outdoor space, with a private balcony or yard
