Refreshed Duplex with Private
New
For Sale
$1,765,000
21172119 Los Gatos Almaden Rd, San Jose, CA 95124
Two distinct residences offer updated finishes, private outdoor areas, and separate gas and electric meters.
Property Size2,317 SF
Price / SF$761.76
Days on Market7
Property Features for 21172119 Los Gatos Almaden Rd
General Information
Standard status
Active
Size
2,317 SF
Property subtype
Residential Income
Listing Agency:
Pertria
(408) 357-7777
Listed By:
Helen Pastorino · License #00612357
(408) 357-7770
Source:
Exprealty
Added: Sep 20
Changed: Sep 25
Last Checked: Sep 24 at 3:08PM
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 Pertria
Investment Insights
Based on property information with market context.
This duplex at 2117-2119 Los Gatos Almaden Rd features two separate residences with different design profiles. The 2119 residence includes quartz countertops, an upgraded kitchen, LVP flooring, refreshed bathrooms, in-unit laundry, and a large private backyard with trellis. The 2117 residence retains its original character and includes a private patio, with potential for renovation or preservation of its existing style.
Property-wide improvements include a new roof, fumigation, fresh exterior paint, new landscaping, and irrigation. Separate gas and electric meters serve the residences. The property is minutes from Downtown Los Gatos, Cambrian Park, Willow Glen, Hwy 85, restaurants, cafes, shopping, recreation, Vasona Lake, Los Gatos Creek Trail, and Silicon Valley employment centers.
Property-wide improvements include a new roof, fumigation, fresh exterior paint, new landscaping, and irrigation. Separate gas and electric meters serve the residences. The property is minutes from Downtown Los Gatos, Cambrian Park, Willow Glen, Hwy 85, restaurants, cafes, shopping, recreation, Vasona Lake, Los Gatos Creek Trail, and Silicon Valley employment centers.
Key Highlights
- Two distinct residences within a single duplex property
- 2119 features quartz counters, an upgraded kitchen, LVP flooring, refreshed baths, and in‑unit laundry
- Large private backyard with trellis at 2119
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
$52,169
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
2.96%
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%
$1,043,380
$1.0M
Cap Rate 7%
$745,271
$745.3K
Cap Rate 9%
$579,656
$579.7K
Market Conditions
NOI Build-Up for 2,317 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
$77.9K $33.60/SF
− Vacancy
−$3.3K −$1.43/SF
EGI
$74.5K $32.17/SF
− OpEx
−$22.4K −$9.65/SF
NOI
$52.2K $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%
$1,043,380
Cap Rate 7%
$745,271
Cap Rate 9%
$579,656
Alternative Uses
Best Use
Multifamily LT 5
$745.3K
$652.1K – $869.5K
NOI $52,169 @ 7.0% cap · market cap 2.96%
Second Best
Apartment 5plus
$688.5K
$602.4K – $803.2K
NOI $48,193 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$1.40M
$1.22M – $1.63M
NOI $97,951 @ 7.0% cap · market cap 5.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,410
Businesses Nearby
Explore this area
Business Placement
Demographics for 95124, CA
50,054
Population
18,143
Households
2.8
Avg Household Size
40
Median Age
61%
College-Educated
95%
High-School Grad
6.6 sq mi
ZIP Area
7,584
Density / Sq Mi
$188,433
Median Household Income
$90,422
Median Earnings
$2,936
Median Rent
$1,596,700
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 - Two distinct residences offer updated finishes, private outdoor areas, and separate gas and electric meters.
Where is this duplex located?
The property is located at 21172119 Los Gatos Almaden Rd San Jose, CA.
What is the asking price?
The asking price for this property is $1,765,000.
What are key features of this property?
This property features: Two distinct residences within a single duplex property; 2119 features quartz counters, an upgraded kitchen, LVP flooring, refreshed baths, and in‑unit laundry; Large private backyard with trellis at 2119
