Improved Triplex with
New
For Sale
$1,348,000
1365 Vine St, San Jose, CA 95110
Three separate units include two occupied residences and one vacant unit available for occupancy.
Property Size2,231 SF
Days on Market2
Property Features for 1365 Vine St
General Information
Standard status
Active
Size
2,231 SF
Property subtype
Investment
Occupancy
67%
Lease Term
12 months
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR+office/1BA
Multifamily Units
3
Amenities
laundry
storage
Building Details
Building Size
2,231 SF
Year Built
1900
Buildings
1
Stories
1
Units
3
Listing Agency:
Christie's International Real Estate Sereno
Listed By:
The Gummow Brothers · License #70010170
(408) 357-9088
Source:
Elliman
Added: Sep 21
Last Checked: Sep 21 at 3:05PM
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 Christie's International Real Estate Sereno
Investment Insights
Based on property information with market context.
This extensively improved triplex contains three separate residences with a mix of two-bedroom and one-bedroom layouts. The front unit offers 2 bedrooms, 1 bath, a private front yard, and porch. The basement unit includes 2 bedrooms, 1 bath, a separate kitchen, living room, and family room. The rear unit has 1 bedroom plus an office or possible second bedroom, 1 bath, and backyard or patio access. Two units are tenant-occupied, while the third is vacant.
Capital improvements include upgraded 200-amp electrical service, extensive rewiring, Type L copper plumbing, an engineered and City-inspected seismic retrofit, owned solar, drainage and grading work, foundation waterproofing, and a roof replaced in 2016. Interior updates include quartz counters, cabinetry, stainless appliances, LVP flooring, recessed lighting, and dual-pane windows. The property also has approximately 3 onsite parking spaces plus guest parking, laundry, and storage. It is minutes from Downtown, SJC Airport, The Plant, and Hwys 87, 280, 680, and 101.
Capital improvements include upgraded 200-amp electrical service, extensive rewiring, Type L copper plumbing, an engineered and City-inspected seismic retrofit, owned solar, drainage and grading work, foundation waterproofing, and a roof replaced in 2016. Interior updates include quartz counters, cabinetry, stainless appliances, LVP flooring, recessed lighting, and dual-pane windows. The property also has approximately 3 onsite parking spaces plus guest parking, laundry, and storage. It is minutes from Downtown, SJC Airport, The Plant, and Hwys 87, 280, 680, and 101.
Key Highlights
- Three‑unit triplex with 2 tenant‑occupied units and 1 vacant unit
- Unit mix includes two 2 bed/1 bath residences and one 1 bed plus office/possible 2nd bedroom unit
- Engineered and City‑inspected seismic retrofit with upgraded 200‑amp electrical service
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
$50,233
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
3.73%
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%
$1,004,660
$1.0M
Cap Rate 7%
$717,614
$717.6K
Cap Rate 9%
$558,144
$558.1K
Market Conditions
NOI Build-Up for 2,231 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
$75.0K $33.60/SF
− Vacancy
−$3.2K −$1.43/SF
EGI
$71.8K $32.17/SF
− OpEx
−$21.5K −$9.65/SF
NOI
$50.2K $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%
$1,004,660
Cap Rate 7%
$717,614
Cap Rate 9%
$558,144
Alternative Uses
Best Use
Multifamily LT 5
$717.6K
$627.9K – $837.2K
NOI $50,233 @ 7.0% cap · market cap 3.73%
Second Best
Apartment 5plus
$662.9K
$580.1K – $773.4K
NOI $46,405 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,316 @ 7.0% cap · market cap 7.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
66.7%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,573
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Three separate units include two occupied residences and one vacant unit available for occupancy.
Where is this triplex located?
The property is located at 1365 Vine St San Jose, CA.
What is the asking price?
The asking price for this property is $1,348,000.
What are key features of this property?
This property features: Three‑unit triplex with 2 tenant‑occupied units and 1 vacant unit; Unit mix includes two 2 bed/1 bath residences and one 1 bed plus office/possible 2nd bedroom unit; Engineered and City‑inspected seismic retrofit with upgraded 200‑amp electrical service
