Tenant-Occupied
For Sale
$1,199,000
421-423 Willis Avenue, San Jose, CA 95126
ResidentialIncome, Traditional, SanJose, CA
Property Size1,980 SF
Lot Size0.13 Acres
Price / SF$605.56
Days on Market33
Property Features for 421-423 Willis Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R2
Parking features
On Street, Oversize, Garage
Appliances
WasherDryer
Elementary school
SanJoseUnified
High school
SanJoseUnified
Elementary school district
SanJoseUnified
High school district
SanJoseUnified
Subdivision
CentralSanJose
Standard status
Active
APN
264-21-036
Size
1,980 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
15286
Utilities
Sewer type
Public Sewer
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Year built
1962
Floors in Building
1
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 21
Last Checked: Oct 21 at 8:06AM
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.
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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 lot. Built in 1962, the property has wall-unit cooling, washer and dryer appliances, a composition roof, and public water and sewer service. Parking features include a garage, oversized parking, and on-street parking. The property is zoned R2, and both residences are tenant occupied.
The property is near Downtown San Jose, Delmas Park, Diridon Station, SAP Center, Willow Glen, and Lincoln Avenue. I-280 and CA-87 provide access to other parts of San Jose and the greater Silicon Valley area.
The property is near Downtown San Jose, Delmas Park, Diridon Station, SAP Center, Willow Glen, and Lincoln Avenue. I-280 and CA-87 provide access to other parts of San Jose and the greater Silicon Valley area.
Key Highlights
- Two separate tenant‑occupied residences
- 1,980 square feet on a 0.128‑acre lot
- 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.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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
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
Frequently Asked Questions
What type of property is this?
Duplex - Two residences provide separate living spaces, and both are currently occupied by tenants.
Where is this duplex located?
The property is located at 421-423 Willis Avenue 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 tenant‑occupied residences; 1,980 square feet on a 0.128‑acre lot; R2 zoning
