Four-Unit Multifamily
New
For Sale
$1,580,000
1375 Tami Lee DR, San Jose, CA 95122
Residential Income (2-4 units), SAN JOSE, CA
Property Size3,264 SF
Lot Size0.18 Acres
Price / SF$484.07
Days on Market2
Property Features for 1375 Tami Lee DR
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM
Bedrooms
8
Rooms
Bedroom 2, Bedroom 1, Bedroom 7, Bedroom 4, Bedroom 3, Bedroom 6, Bedroom 8, Bedroom 5
Parking
5
Appliances
Exhaust Fan, Garbage Disposal, Oven - Electric, Oven - Self Cleaning, Refrigerator
Subdivision
South San Jose
Standard status
Active
Size
3,264 SF
Lot size
0.18 Acres
Taxes and HOA fees
HOA Fee
$484 Monthly
Utilities
Heating system
Wall Furnace
Water source
Public
Building Details
Year built
1970
Number of units
4
Flooring type
Linoleum, Laminate, Tile
Building materials
Concrete, Wood
Roof type
Flat, Composition
Listing Agency:
Intero Real Estate Services
(408) 357-5700
Listed By:
Mindy Masli · License #01895159
(408) 507-9737
Added: Sep 2
Last Checked: Sep 3 at 7:06AM
MLS# ML82059883
Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This RM-zoned multifamily property contains four tenant-occupied units within 3,264 square feet of building area. The units are leased on a month-to-month basis, with a mix of renovated interiors and original finishes. Interior features include natural-light-filled living areas, linoleum, laminate, and tile flooring, along with wall-furnace heating. The property was built in 1970 on a 0.18-acre lot and is served by public water.
Located in San Jose, the property provides access to Highways 280 and 101. Elementary and middle schools are within walking distance. Construction includes concrete and wood materials, with flat and composition roofing.
Located in San Jose, the property provides access to Highways 280 and 101. Elementary and middle schools are within walking distance. Construction includes concrete and wood materials, with flat and composition roofing.
Key Highlights
- Four tenant‑occupied units on month‑to‑month arrangements
- 3,264 square feet on a 0.18‑acre lot
- RM zoning in San Jose, CA
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Tenant-occupied units offer month-to-month rental arrangements and varied renovation profiles.
Where is this quadplex located?
The property is located at 1375 Tami Lee DR 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 tenant‑occupied units on month‑to‑month arrangements; 3,264 square feet on a 0.18‑acre lot; RM zoning in San Jose, CA
