Two-Unit Duplex with Vacant
342-344 Raymond Avenue San Jose, CA 95128
New
342-344 Raymond Avenue, San Jose, CA, 95128
$1,000,000
For Sale
$1,000,000
Two-level duplex with two independent, vacant units and a large level lot with potential for an ADU.
Property Size1,512 SF
Price / SF$661.38
Days on Market5
Property Features for 342-344 Raymond Avenue
General Information
- Standard status
- Active
- Size
- 1,512 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1920
Listing Agency
KW Elevate
(408) 931-0897
Listed by
John Tran · License #02092278
(408) 931-0897
Source
Exitrealty
Added: Jul 16 Updated: Jul 18 at 2:29 am Checked: Jul 20 at 1:39 am
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 KW Elevate
Investment Insights
Based on property information with market context.
This west San Carlos two-level duplex offers two independent units delivered vacant. The property is approximately 1,512 square feet total, comprising two separate 750 square foot units. Unit 342 features a 2-bedroom, 1-bath layout with high ceilings, laminate flooring, and wood paneling. Unit 344 offers a bright, open-concept 1-bedroom, 1-bath floor plan with a breakfast bar pass-through into the living room. The huge, open level lot adds flexibility, including potential for an ADU.
The duplex is located at 342-344 Raymond Avenue in San Jose, with easy access to Rose Garden, SAP Center, Trader Joe’s, Target, Diridon Station, and Santana Row shopping and dining.
With both units currently vacant, the property can support an owner-occupant strategy while still providing the option to generate rental income from the second unit, alongside the ADU possibility on the level lot.
The duplex is located at 342-344 Raymond Avenue in San Jose, with easy access to Rose Garden, SAP Center, Trader Joe’s, Target, Diridon Station, and Santana Row shopping and dining.
With both units currently vacant, the property can support an owner-occupant strategy while still providing the option to generate rental income from the second unit, alongside the ADU possibility on the level lot.
Key Highlights
- Two‑level duplex built in 1920 with approximately 1,512 sq ft total and two independent 750 sq ft units
- Both units delivered vacant, giving buyers flexibility to live in one unit or rent both
- Unit 342: 2‑bedroom, 1‑bath with high ceilings, laminate flooring, and wood paneling
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $50.8k | $33.60 |
| − Vacancy | −$2.2k | −$1.43 |
| EGI | $48.6k | $32.17 |
| − OpEx | −$14.6k | −$9.65 |
| NOI | $34.0k | $22.52 |
1,512 SF · lease $33.60/SF/yr · vacancy 4.27% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$486.3K
$425.6K – $567.4K
NOI $34,044 @ 7.0% cap · market cap 3.40%
Second Best
Apartment 5plus
$449.3K
$393.1K – $524.2K
NOI $31,449 @ 7.0% cap · market cap 3.14%
Theoretical Best
Office A
$913.1K
$799.0K – $1.07M
NOI $63,920 @ 7.0% cap · market cap 6.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two-level duplex with two independent, vacant units and a large level lot with potential for an ADU.
Where is this duplex located?
The property is located at 342-344 Raymond Avenue San Jose, CA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Two‑level duplex built in 1920 with approximately 1,512 sq ft total and two independent 750 sq ft units; Both units delivered vacant, giving buyers flexibility to live in one unit or rent both; Unit 342: 2‑bedroom, 1‑bath with high ceilings, laminate flooring, and wood paneling
