Tenant-Occupied
New
For Sale
$1,199,000
421-423 Willis Ave, San Jose, CA 95126
Two separate dwellings are currently occupied by tenants, with R2 zoning.
Property Size1,980 SF
Price / SF$605.56
Days on Market3
Property Features for 421-423 Willis Ave
General Information
Standard status
Active
Size
1,980 SF
Property subtype
Multi Family Home
Zoning
R2
Site & Location
Neighborhood
Auzerais
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Tenant in Place
Yes
Building Details
Building Size
1,980 SF
Year Built
1962
Buildings
1
Stories
1
Listing Agency:
Luxuriant Realty
Listed By:
Ann Vu · License #00955888
(408) 209-8881
Source:
Firesiderealty
Added: Oct 22
Changed: Oct 23
Last Checked: Oct 23 at 1:19PM
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 Luxuriant Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property at 421-423 Willis Avenue is a duplex with two separate residences and a combined building area of 1,980 square feet. Both homes are tenant-occupied. Built in 1962, the property is zoned R2.
The address is in San Jose, near downtown, Diridon Station, SAP Center, Delmas Park, Willow Glen and Lincoln Avenue. I-280 and CA-87 provide regional roadway connections. Shopping, restaurants, parks, entertainment and transportation hubs are also identified in the surrounding area.
The address is in San Jose, near downtown, Diridon Station, SAP Center, Delmas Park, Willow Glen and Lincoln Avenue. I-280 and CA-87 provide regional roadway connections. Shopping, restaurants, parks, entertainment and transportation hubs are also identified in the surrounding area.
Key Highlights
- Two separate residences, both occupied by tenants
- 1,980 square feet of building area
- R2 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,581
Cap Rate
3.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$891,620
$891.6K
Cap Rate 7%
$636,871
$636.9K
Cap Rate 9%
$495,344
$495.3K
Market Conditions
NOI Build-Up for 1,980 SF
Gross rent
$66.5K $33.60/SF
− Vacancy
−$2.8K −$1.43/SF
EGI
$63.7K $32.17/SF
− OpEx
−$19.1K −$9.65/SF
NOI
$44.6K $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%
$891,620
Cap Rate 7%
$636,871
Cap Rate 9%
$495,344
Alternative Uses
Best Use
Multifamily LT 5
$636.9K
$557.3K – $743.0K
NOI $44,581 @ 7.0% cap · market cap 3.72%
Second Best
Apartment 5plus
$588.3K
$514.8K – $686.4K
NOI $41,184 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,705 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,707
Businesses Nearby
Explore this area
Business Placement
Demographics for 95126, CA
37,372
Population
16,936
Households
2.2
Avg Household Size
36
Median Age
55%
College-Educated
89%
High-School Grad
3.3 sq mi
ZIP Area
11,325
Density / Sq Mi
$127,297
Median Household Income
$72,722
Median Earnings
$2,544
Median Rent
$1,195,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate dwellings are currently occupied by tenants, with R2 zoning.
Where is this duplex located?
The property is located at 421-423 Willis Ave San Jose, CA.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Two separate residences, both occupied by tenants; 1,980 square feet of building area; R2 zoning
