Updated Four-Unit
New
For Sale
$2,895,000
3451 Princeton Way, Santa Clara, CA 95051
Two single-story duplexes offer private entrances, garages, and upgraded interiors across four residential units.
Property Size4,068 SF
Lot Size0.20 Acres
Price / SF$711.65
Days on Market2
Property Features for 3451 Princeton Way
General Information
Standard status
Active
Size
4,068 SF
Lot size
0.20 Acres
Property subtype
Multi Family
Units
Unit Mix
2 x 3BD/2BA, 2 x 2BD/1BA
Multifamily Units
4
Additional Details
Gross Income
$168,000
Amenities
in-unit washers/dryers
garages
private yards
dishwashers
microwaves
fireplaces
formal dining areas
Building Details
Year Built
1964
Buildings
2
Stories
1
Listing Agency:
Magnify Real Estate
(877) 776-7718
Listed By:
David Katz · License #01971921
(408) 438-0585
Source:
Exitrealty
Added: Sep 9
Last Checked: Sep 10 at 7:51AM
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 Magnify Real Estate
Investment Insights
Based on property information with market context.
This four-unit residential income property comprises two single-story duplex buildings totaling 4,068 square feet on a 0.20-acre parcel. The unit mix includes two 3BD/2BA residences and two 2BD/1BA residences, with separate addresses and private entrances. Built in 1964, the property has received updates including quartz countertops, revised cabinetry, new flooring, stainless steel appliances, and hardscaped patios.
Each unit includes an in-unit washer and dryer, dishwasher, microwave, fireplace, formal dining area, private yard, and garage. The two buildings are located at 3451 Princeton Way and 3452 Homestead Road in Santa Clara. Apple Headquarters is approximately 1 mile away, while Kaiser Permanente Santa Clara Medical Center is within walking distance. Shopping, dining, major employers, and other Silicon Valley amenities are also accessible from the property.
Each unit includes an in-unit washer and dryer, dishwasher, microwave, fireplace, formal dining area, private yard, and garage. The two buildings are located at 3451 Princeton Way and 3452 Homestead Road in Santa Clara. Apple Headquarters is approximately 1 mile away, while Kaiser Permanente Santa Clara Medical Center is within walking distance. Shopping, dining, major employers, and other Silicon Valley amenities are also accessible from the property.
Key Highlights
- 4,068 SF across two single‑story duplexes
- 0.20‑acre lot with four residential units
- Unit mix: (2) 3BD/2BA and (2) 2BD/1BA
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
$86,750
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
3.00%
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%
$1,735,000
$1.7M
Cap Rate 7%
$1,239,286
$1.2M
Cap Rate 9%
$963,889
$963.9K
Market Conditions
NOI Build-Up for 4,068 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
$129.4K $31.80/SF
− Vacancy
−$5.4K −$1.34/SF
EGI
$123.9K $30.46/SF
− OpEx
−$37.2K −$9.14/SF
NOI
$86.8K $21.33/SF
Area
Santa Clara, CA
Vacancy
4.20%
Lease Rate
$31.80 /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%
$1,735,000
Cap Rate 7%
$1,239,286
Cap Rate 9%
$963,889
Alternative Uses
Best Use
Multifamily LT 5
$1.24M
$1.08M – $1.45M
NOI $86,750 @ 7.0% cap · market cap 3.00%
Second Best
Apartment 5plus
$1.10M
$961.7K – $1.28M
NOI $76,936 @ 7.0% cap · market cap 2.66%
Theoretical Best
Office A
$2.46M
$2.15M – $2.87M
NOI $171,914 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,515
Businesses Nearby
Explore this area
Business Placement
Demographics for 95051, CA
61,466
Population
25,152
Households
2.4
Avg Household Size
36
Median Age
71%
College-Educated
95%
High-School Grad
6.6 sq mi
ZIP Area
9,313
Density / Sq Mi
$185,632
Median Household Income
$107,905
Median Earnings
$3,054
Median Rent
$1,623,600
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?
Quadplex - Two single-story duplexes offer private entrances, garages, and upgraded interiors across four residential units.
Where is this quadplex located?
The property is located at 3451 Princeton Way Santa Clara, CA.
What is the asking price?
The asking price for this property is $2,895,000.
What are key features of this property?
This property features: 4,068 SF across two single‑story duplexes; 0.20‑acre lot with four residential units; Unit mix: (2) 3BD/2BA and (2) 2BD/1BA
