4-Unit Quadplex with Renovated
New
For Sale
$1,580,000
1375 Tami Lee Drive, San Jose, CA 95122
Tenant-occupied residences include a mix of updated interiors and original finishes near schools and major highways.
Property Size3,264 SF
Price / SF$484.07
Days on Market4
Property Features for 1375 Tami Lee Drive
General Information
Standard status
Active
Size
3,264 SF
Property subtype
Multi Family
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
4
Building Details
Year Built
1970
Listing Agency:
Intero Real Estate Services
Listed By:
Mindy Masli · License #01895159
(408) 507-9737
Source:
Exitrealty
Added: Sep 3
Changed: Sep 5
Last Checked: Sep 6 at 7:11AM
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 Intero Real Estate Services
Investment Insights
Based on property information with market context.
This 3,264-square-foot quadplex, built in 1970, contains four tenant-occupied units leased on a month-to-month basis. The property includes a mix of renovated residences and units retaining original finishes, with each home offering natural light and defined living areas.
Located in San Jose, the property provides access to Highways 280 and 101. Elementary and middle schools are within walking distance, adding convenience for residents. The four-unit configuration and varied interior condition create a straightforward multifamily asset with existing occupancy.
Located in San Jose, the property provides access to Highways 280 and 101. Elementary and middle schools are within walking distance, adding convenience for residents. The four-unit configuration and varied interior condition create a straightforward multifamily asset with existing occupancy.
Key Highlights
- Four‑unit multifamily property with all units tenant‑occupied
- Month‑to‑month tenancy across all four residences
- 3,264 SF building constructed in 1970
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
$66,978
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
4.24%
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%
$1,339,560
$1.3M
Cap Rate 7%
$956,829
$956.8K
Cap Rate 9%
$744,200
$744.2K
Market Conditions
NOI Build-Up for 3,264 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
$99.9K $30.60/SF
− Vacancy
−$4.2K −$1.29/SF
EGI
$95.7K $29.31/SF
− OpEx
−$28.7K −$8.79/SF
NOI
$67.0K $20.52/SF
Area
ZIP 95122
Vacancy
4.20%
Lease Rate
$30.60 /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%
$1,339,560
Cap Rate 7%
$956,829
Cap Rate 9%
$744,200
Alternative Uses
Best Use
Multifamily LT 5
$956.8K
$837.2K – $1.12M
NOI $66,978 @ 7.0% cap · market cap 4.24%
Second Best
Apartment 5plus
$886.3K
$775.5K – $1.03M
NOI $62,042 @ 7.0% cap · market cap 3.93%
Theoretical Best
Office A
$1.97M
$1.72M – $2.30M
NOI $137,937 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
723
Businesses Nearby
Explore this area
Business Placement
Demographics for 95122, CA
54,056
Population
12,560
Households
4.3
Avg Household Size
36
Median Age
18%
College-Educated
65%
High-School Grad
4.8 sq mi
ZIP Area
11,262
Density / Sq Mi
$103,406
Median Household Income
$41,704
Median Earnings
$2,424
Median Rent
$838,900
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?
Quadplex - Tenant-occupied residences include a mix of updated interiors and original finishes near schools and major highways.
Where is this quadplex located?
The property is located at 1375 Tami Lee Drive San Jose, CA.
What is the asking price?
The asking price for this property is $1,580,000.
What are key features of this property?
This property features: Four‑unit multifamily property with all units tenant‑occupied; Month‑to‑month tenancy across all four residences; 3,264 SF building constructed in 1970
