2-Unit
For Sale
$1,199,000
421-423 Willis AVE, San Jose, CA 95126
Residential Income (2-4 units), Traditional, SAN JOSE, CA
Property Size1,980 SF
Lot Size0.13 Acres
Price / SF$605.56
Days on Market18
Property Features for 421-423 Willis AVE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R2
Bedrooms
4
Rooms
Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 2
Parking features
Garage - Attached, Oversize, On Street
Subdivision
Central San Jose
Standard status
Active
Size
1,980 SF
Lot size
0.13 Acres
Utilities
Heating system
Wall Furnace
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Year built
1962
Number of units
2
Roof type
Composition
Architectural style
Other
Listing Agency:
Luxuriant Realty
(650) 246-9670
Listed By:
ANN VU · License #00955888
(408) 209-8881
Added: Sep 19
Changed: Oct 2
Last Checked: Oct 6 at 11:06PM
MLS# ML82060469
Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This San Jose duplex contains two separate residences within 1,980 square feet on a 0.128-acre parcel. Built in 1962, the property has wall furnaces, wall-unit cooling, a composition roof, and public water service. Parking includes an attached oversized garage and on-street options. The property is zoned R2.
The site is near Downtown San Jose, Diridon Station, SAP Center, Delmas Park, Willow Glen, and Lincoln Avenue. I-280 and CA-87 provide regional road connections. Both residences are currently occupied by tenants.
The site is near Downtown San Jose, Diridon Station, SAP Center, Delmas Park, Willow Glen, and Lincoln Avenue. I-280 and CA-87 provide regional road connections. Both residences are currently occupied by tenants.
Key Highlights
- Two residences, both tenant‑occupied
- 1,980 square feet on a 0.128‑acre parcel
- 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.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Both residences are tenant-occupied, providing an existing rental configuration.
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 residences, both tenant‑occupied; 1,980 square feet on a 0.128‑acre parcel; R2 zoning
