Updated Two-Home Duplex
For Sale
$1,495,000
Pending
17317 Lotus Way, Morgan Hill, CA 95037
Two separate residences share one lot, with private garages and laundry serving the front home.
Property Size2,666 SF
Days on Market1546
Property Features for 17317 Lotus Way
General Information
Standard status
Pending
Size
2,666 SF
Total Parking Spaces
3
Property subtype
Residential Income
Units
Unit Mix
1 x 4BR/3BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,182
Building Details
Buildings
2
Listing Agency:
Realty World People to People
(408) 396-7776
Listed By:
Leonette Stafford · License #01788834
(408) 396-4446
Source:
Exprealty
Added: Jul 22, 2022
Changed: Oct 11
Last Checked: Oct 12 at 9:44PM
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 Realty World People to People
Investment Insights
Based on property information with market context.
This duplex includes two separate homes on one lot with a combined 2,666 square feet. The rear residence offers 4 bedrooms, 3 full baths, an oversized 2-car garage, and a backyard. The front residence includes 1 bedroom, 1 full bath, an oversized 1-car garage, and its own laundry area.
Both homes have been updated with new bathroom cabinetry, granite countertops, and multiple new appliances. The property is located at 17317 Lotus Way in Morgan Hill, California, providing a flexible two-residence configuration for residential income use or multigenerational living.
Both homes have been updated with new bathroom cabinetry, granite countertops, and multiple new appliances. The property is located at 17317 Lotus Way in Morgan Hill, California, providing a flexible two-residence configuration for residential income use or multigenerational living.
Key Highlights
- Two homes on one lot with 2,666 square feet combined
- Rear home includes 4 bedrooms, 3 full baths, and an oversized 2‑car garage
- Front home offers 1 bedroom, 1 full bath, an oversized 1‑car garage, and private laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,431
Cap Rate
3.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,188,620
$1.2M
Cap Rate 7%
$849,014
$849.0K
Cap Rate 9%
$660,344
$660.3K
Market Conditions
NOI Build-Up for 2,666 SF
Gross rent
$89.6K $33.60/SF
− Vacancy
−$4.7K −$1.75/SF
EGI
$84.9K $31.85/SF
− OpEx
−$25.5K −$9.55/SF
NOI
$59.4K $22.29/SF
Area
Santa Clara County, CA
Vacancy
5.22%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,188,620
Cap Rate 7%
$849,014
Cap Rate 9%
$660,344
Alternative Uses
Best Use
Multifamily LT 5
$849.0K
$742.9K – $990.5K
NOI $59,431 @ 7.0% cap · market cap 3.98%
Second Best
Apartment 5plus
$723.9K
$633.4K – $844.6K
NOI $50,675 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,665 @ 7.0% cap · market cap 7.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
717
Businesses Nearby
Explore this area
Business Placement
Demographics for 95037, CA
53,126
Population
17,185
Households
3.1
Avg Household Size
41
Median Age
44%
College-Educated
90%
High-School Grad
120.1 sq mi
ZIP Area
442
Density / Sq Mi
$158,256
Median Household Income
$71,130
Median Earnings
$2,242
Median Rent
$1,152,400
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?
Duplex - Two separate residences share one lot, with private garages and laundry serving the front home.
Where is this duplex located?
The property is located at 17317 Lotus Way Morgan Hill, CA.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Two homes on one lot with 2,666 square feet combined; Rear home includes 4 bedrooms, 3 full baths, and an oversized 2‑car garage; Front home offers 1 bedroom, 1 full bath, an oversized 1‑car garage, and private laundry
