Updated Duplex with Private
For Sale
$1,450,000
1487- 1489 Merry Lane, San Jose, CA 95128
Two-bedroom residences offer fireplaces, fenced backyards, indoor laundry, central A/C, and access to landscaped outdoor areas.
Property Size1,919 SF
Price / SF$755.60
Days on Market34
Property Features for 1487- 1489 Merry Lane
General Information
Standard status
Active
Size
1,919 SF
Property subtype
Multi Family
Building Details
Year Built
1958
Listing Agency:
Cal-western Realty
Listed By:
Julie Hedrick · License #01472439
(408) 554-1818
Source:
Exitrealty
Added: Sep 4
Changed: Oct 4
Last Checked: Oct 4 at 7:02AM
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 Cal-western Realty
Investment Insights
Based on property information with market context.
Built in 1958, this duplex at 1487-1489 Merry Lane in San Jose includes 1,919 square feet across two residences. Each unit provides 2 bedrooms, 1 bathroom, a living room with fireplace, a dining area beside the kitchen, and a sliding glass door opening to a private fenced backyard. Both homes also include central A/C, dual-pane windows, and an indoor laundry area.
The kitchens are equipped with updated cabinetry, granite countertops, stainless steel sinks, dishwashers, vented microwave hoods, and garbage disposals. Bathrooms feature updated cabinetry and granite counters. A shared courtyard connects the units to their private one-car garages, while the landscaped yards add outdoor space. The property is positioned near shopping, dining, and major commute routes in West San Jose.
The kitchens are equipped with updated cabinetry, granite countertops, stainless steel sinks, dishwashers, vented microwave hoods, and garbage disposals. Bathrooms feature updated cabinetry and granite counters. A shared courtyard connects the units to their private one-car garages, while the landscaped yards add outdoor space. The property is positioned near shopping, dining, and major commute routes in West San Jose.
Key Highlights
- Two‑unit duplex with 1,919 square feet, built in 1958
- Each unit includes 2 bedrooms and 1 bathroom
- Private fenced backyard for each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,208
Cap Rate
2.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$864,160
$864.2K
Cap Rate 7%
$617,257
$617.3K
Cap Rate 9%
$480,089
$480.1K
Market Conditions
NOI Build-Up for 1,919 SF
Gross rent
$64.5K $33.60/SF
− Vacancy
−$2.8K −$1.43/SF
EGI
$61.7K $32.17/SF
− OpEx
−$18.5K −$9.65/SF
NOI
$43.2K $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 Rate 5%
$864,160
Cap Rate 7%
$617,257
Cap Rate 9%
$480,089
Alternative Uses
Best Use
Multifamily LT 5
$617.3K
$540.1K – $720.1K
NOI $43,208 @ 7.0% cap · market cap 2.98%
Second Best
Apartment 5plus
$570.2K
$498.9K – $665.3K
NOI $39,915 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $81,126 @ 7.0% cap · market cap 5.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,596
Businesses Nearby
Explore this area
Business Placement
Demographics for 95128, CA
34,776
Population
15,193
Households
2.3
Avg Household Size
38
Median Age
52%
College-Educated
90%
High-School Grad
3.9 sq mi
ZIP Area
8,917
Density / Sq Mi
$122,647
Median Household Income
$71,504
Median Earnings
$2,505
Median Rent
$1,214,500
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-bedroom residences offer fireplaces, fenced backyards, indoor laundry, central A/C, and access to landscaped outdoor areas.
Where is this duplex located?
The property is located at 1487- 1489 Merry Lane San Jose, CA.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,919 square feet, built in 1958; Each unit includes 2 bedrooms and 1 bathroom; Private fenced backyard for each residence
