Fourplex with Private
New
For Sale
$1,948,000
1128 Oakmont Dr, San Jose, CA 95117
Two-story income property with updated residences, on-site laundry, and convenient access to shopping and major roadways.
Property Size4,169 SF
Days on Market4
Property Features for 1128 Oakmont Dr
General Information
Standard status
Active
Size
4,169 SF
Total Parking Spaces
4
Property subtype
Investment
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$10,277
Amenities
community laundry
Building Details
Building Size
4,169 SF
Year Built
1968
Stories
2
Units
4
Listing Agency:
DPL Real Estate
(408) 621-5649
Listed By:
David Lillo · License #01803836
(408) 621-5649
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 10 at 6:59AM
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 DPL Real Estate
Investment Insights
Based on property information with market context.
This 1968 fourplex includes two ground-level residences and two units on the second floor, creating a straightforward two-story configuration. Two of the four residences have been updated, while separate electric and gas meters support individual utility accounting. Residents also have access to community laundry on the property and four private carports.
The property is situated in West San Jose within walking distance of Mitsuwa grocery, Lion grocery, and additional amenities. Saratoga Avenue, nearby freeways, and expressways provide regional access. The stated school assignments are Easterbrook Elementary, Easterbrook Middle, and Prospect High. The area is rated Very Bikeable with a bike score of 76, while walkability is rated Somewhat Walkable with a walk score of 59.
The property is situated in West San Jose within walking distance of Mitsuwa grocery, Lion grocery, and additional amenities. Saratoga Avenue, nearby freeways, and expressways provide regional access. The stated school assignments are Easterbrook Elementary, Easterbrook Middle, and Prospect High. The area is rated Very Bikeable with a bike score of 76, while walkability is rated Somewhat Walkable with a walk score of 59.
Key Highlights
- Fourplex with 2 ground‑floor units and 2 second‑floor units
- 2 of the 4 units have been updated
- 4 private carports included 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
$93,868
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
4.82%
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%
$1,877,360
$1.9M
Cap Rate 7%
$1,340,971
$1.3M
Cap Rate 9%
$1,042,978
$1.0M
Market Conditions
NOI Build-Up for 4,169 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
$140.1K $33.60/SF
− Vacancy
−$6.0K −$1.43/SF
EGI
$134.1K $32.17/SF
− OpEx
−$40.2K −$9.65/SF
NOI
$93.9K $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%
$1,877,360
Cap Rate 7%
$1,340,971
Cap Rate 9%
$1,042,978
Alternative Uses
Best Use
Multifamily LT 5
$1.34M
$1.17M – $1.56M
NOI $93,868 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$1.24M
$1.08M – $1.45M
NOI $86,715 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$2.52M
$2.20M – $2.94M
NOI $176,245 @ 7.0% cap · market cap 9.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
730
Businesses Nearby
Explore this area
Business Placement
Demographics for 95117, CA
30,137
Population
11,226
Households
2.7
Avg Household Size
36
Median Age
44%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
13,103
Density / Sq Mi
$115,778
Median Household Income
$56,791
Median Earnings
$2,367
Median Rent
$1,425,200
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-story income property with updated residences, on-site laundry, and convenient access to shopping and major roadways.
Where is this quadplex located?
The property is located at 1128 Oakmont Dr San Jose, CA.
What is the asking price?
The asking price for this property is $1,948,000.
What are key features of this property?
This property features: Fourplex with 2 ground‑floor units and 2 second‑floor units; 2 of the 4 units have been updated; 4 private carports included on site
