Victorian Triplex with Finished
For Sale
$1,350,800
446 W San Fernando St, San Jose, CA 95110
Three residential units feature varied finishes, wall-furnace heat, fireplaces, and laundry equipment in some units.
Property Size1,834 SF
Price / SF$736.53
Days on Market55
Property Features for 446 W San Fernando St
General Information
Standard status
Active
Size
1,834 SF
Property subtype
Business Opportunity
Building Details
Year Built
1900
Listing Agency:
Fireside Realty
(408) 267-5350
Listed By:
Martin Topete · License #01353423
Source:
Homeisv
Added: Jul 9
Changed: Aug 31
Last Checked: Aug 30 at 8:56PM
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 Fireside Realty
Investment Insights
Based on property information with market context.
Built in 1900, this Victorian triplex contains three one-bedroom, one-bath units within 1,834 square feet. Interior finishes include carpet, hardwood, and vinyl or linoleum, while appliance packages differ among the units. Heating is provided by wall furnaces; the property does not have cooling. A fireplace adds a period feature, and some units include washers and dryers. The fully finished basement provides additional usable space, with room for expansion noted in the property information.
The property is positioned across from a light rail stop and a few blocks from downtown and the arena in San Jose. It is within the San Jose Unified School District and occupies a lot with a stated minimum size of 5,076 square feet.
The property is positioned across from a light rail stop and a few blocks from downtown and the arena in San Jose. It is within the San Jose Unified School District and occupies a lot with a stated minimum size of 5,076 square feet.
Key Highlights
- Three‑unit configuration with 1 bed and 1 bath per unit
- 1,834 square feet in a Victorian property built in 1900
- Fully finished basement with room for expansion
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
$41,294
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
3.06%
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%
$825,880
$825.9K
Cap Rate 7%
$589,914
$589.9K
Cap Rate 9%
$458,822
$458.8K
Market Conditions
NOI Build-Up for 1,834 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
$61.6K $33.60/SF
− Vacancy
−$2.6K −$1.43/SF
EGI
$59.0K $32.17/SF
− OpEx
−$17.7K −$9.65/SF
NOI
$41.3K $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%
$825,880
Cap Rate 7%
$589,914
Cap Rate 9%
$458,822
Alternative Uses
Best Use
Multifamily LT 5
$589.9K
$516.2K – $688.2K
NOI $41,294 @ 7.0% cap · market cap 3.06%
Second Best
Apartment 5plus
$545.0K
$476.8K – $635.8K
NOI $38,147 @ 7.0% cap · market cap 2.82%
Theoretical Best
Office A
$1.11M
$969.2K – $1.29M
NOI $77,533 @ 7.0% cap · market cap 5.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,329
Businesses Nearby
Explore this area
Business Placement
Demographics for 95110, CA
20,495
Population
7,568
Households
2.7
Avg Household Size
35
Median Age
40%
College-Educated
81%
High-School Grad
4.6 sq mi
ZIP Area
4,455
Density / Sq Mi
$132,800
Median Household Income
$60,241
Median Earnings
$2,629
Median Rent
$947,900
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?
Triplex - Three residential units feature varied finishes, wall-furnace heat, fireplaces, and laundry equipment in some units.
Where is this triplex located?
The property is located at 446 W San Fernando St San Jose, CA.
What is the asking price?
The asking price for this property is $1,350,800.
What are key features of this property?
This property features: Three‑unit configuration with 1 bed and 1 bath per unit; 1,834 square feet in a Victorian property built in 1900; Fully finished basement with room for expansion
