San Jose Duplex For
For Sale
$219,000
1500 Virginia Place 159, San Jose, CA 95116
Duplex with 3 beds, 2 baths, and new flooring.
Property Size960 SF
Days on Market122
Property Features for 1500 Virginia Place 159
General Information
Standard status
Active
Size
960 SF
Property subtype
Commercial
Building Details
Building Size
960 SF
Year Built
1969
Listing Agency:
Allied Realty
(408) 623-9299
Listed By:
Chris Truong · License #01156318
(408) 623-9299
Source:
Elliman
Added: Apr 24
Changed: Aug 13
Last Checked: Aug 23 at 9:56AM
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 Allied Realty
Investment Insights
Based on property information with market context.
This duplex in San Jose features two homes, each with 3 bedrooms and 2 full bathrooms. The property has been freshly painted inside and out and includes new laminated flooring throughout. Double-pane windows are installed, and the walls and ceilings are sheetrock. Kitchen appliances, as well as a washer and dryer, are included. The bike score is 49, indicating it is somewhat bikeable. The walk score is 40, indicating car-dependent surroundings. The transit score is 48, indicating some transit options are available.
Key Highlights
- Double home featuring 3 bedrooms and 2 full bathrooms.
- Freshly painted inside and out.
- New laminated flooring throughout the home.
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
$19,968
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
9.12%
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%
$399,360
$399.4K
Cap Rate 7%
$285,257
$285.3K
Cap Rate 9%
$221,867
$221.9K
Market Conditions
NOI Build-Up for 960 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
$38.0K $39.60/SF
− Vacancy
−$1.7K −$1.78/SF
EGI
$36.3K $37.82/SF
− OpEx
−$16.3K −$17.02/SF
NOI
$20.0K $20.80/SF
Area
San Jose, CA
Vacancy
4.50%
Lease Rate
$39.60 /SF/Yr
Expense Ratio
45.00%
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%
$399,360
Cap Rate 7%
$285,257
Cap Rate 9%
$221,867
Alternative Uses
Best Use
Multifamily LT 5
$308.8K
$270.2K – $360.3K
NOI $21,615 @ 7.0% cap · market cap 9.87%
Second Best
Apartment 5plus
$285.3K
$249.6K – $332.8K
NOI $19,968 @ 7.0% cap · market cap 9.12%
Theoretical Best
Office A
$579.8K
$507.3K – $676.4K
NOI $40,584 @ 7.0% cap · market cap 18.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
846
Businesses Nearby
Explore this area
Business Placement
Demographics for 95116, CA
51,222
Population
13,987
Households
3.7
Avg Household Size
35
Median Age
21%
College-Educated
71%
High-School Grad
3.6 sq mi
ZIP Area
14,228
Density / Sq Mi
$83,428
Median Household Income
$41,992
Median Earnings
$2,049
Median Rent
$842,700
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 - Duplex with 3 beds, 2 baths, and new flooring.
Where is this duplex located?
The property is located at 1500 Virginia Place 159 San Jose, CA.
What is the asking price?
The asking price for this property is $219,000.
What are key features of this property?
This property features: Double home featuring 3 bedrooms and 2 full bathrooms.; Freshly painted inside and out.; New laminated flooring throughout the home.
