Upgraded Fourplex with Private
For Sale
$2,330,000
Pending
4425 Blackford Avenue, San Jose, CA 95129
Four upgraded residences feature central HVAC and dedicated garage parking.
Property Size3,846 SF
Days on Market368
Property Features for 4425 Blackford Avenue
General Information
Standard status
Pending
Size
3,846 SF
Total Parking Spaces
4
Property subtype
Multi Family
Units
Multifamily Units
4
Parking per Unit
1
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$31,181
Amenities
on-site laundry facility
in-unit laundry for Unit #1
Building Details
Year Built
1968
Buildings
1
Listing Agency:
Marcus & Millichap
(650) 546-1030
Listed By:
Eymon Binesh · License #02060059
(650) 546-1030
Source:
Exitrealty
Added: Aug 29, 2025
Changed: Aug 31
Last Checked: Aug 31 at 12:21AM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
Built in 1968, this fourplex contains 3,846 square feet across four residences. Interior improvements include granite countertops, custom wood cabinetry, refreshed bathroom vanities, and dual-pane windows. Each unit is equipped with central heating and air conditioning. Private garages serve all four residences, while laundry amenities include an on-site facility and in-unit laundry in Unit #1.
The property is situated along Saratoga Avenue in West San Jose, within the Moreland School District. Westgate Center, anchored by Target, and Santana Row are nearby, along with major employers and transportation corridors. The address is 4425 Blackford Avenue, San Jose, California 95129.
The property is situated along Saratoga Avenue in West San Jose, within the Moreland School District. Westgate Center, anchored by Target, and Santana Row are nearby, along with major employers and transportation corridors. The address is 4425 Blackford Avenue, San Jose, California 95129.
Key Highlights
- 3,846‑square‑foot fourplex built in 1968
- Four units with granite countertops, custom wood cabinetry, updated bathroom vanities, and dual‑pane windows
- Central heating and air conditioning in every unit
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
$86,595
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
3.72%
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%
$1,731,900
$1.7M
Cap Rate 7%
$1,237,071
$1.2M
Cap Rate 9%
$962,167
$962.2K
Market Conditions
NOI Build-Up for 3,846 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
$129.2K $33.60/SF
− Vacancy
−$5.5K −$1.43/SF
EGI
$123.7K $32.17/SF
− OpEx
−$37.1K −$9.65/SF
NOI
$86.6K $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 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%
$1,731,900
Cap Rate 7%
$1,237,071
Cap Rate 9%
$962,167
Alternative Uses
Best Use
Multifamily LT 5
$1.24M
$1.08M – $1.44M
NOI $86,595 @ 7.0% cap · market cap 3.72%
Second Best
Apartment 5plus
$1.14M
$1,000.0K – $1.33M
NOI $79,996 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$2.32M
$2.03M – $2.71M
NOI $162,590 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,469
Businesses Nearby
Explore this area
Business Placement
Demographics for 95129, CA
41,819
Population
15,091
Households
2.8
Avg Household Size
40
Median Age
71%
College-Educated
95%
High-School Grad
4.6 sq mi
ZIP Area
9,091
Density / Sq Mi
$182,662
Median Household Income
$106,066
Median Earnings
$2,746
Median Rent
$2,000,001
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 - Four upgraded residences feature central HVAC and dedicated garage parking.
Where is this quadplex located?
The property is located at 4425 Blackford Avenue San Jose, CA.
What is the asking price?
The asking price for this property is $2,330,000.
What are key features of this property?
This property features: 3,846‑square‑foot fourplex built in 1968; Four units with granite countertops, custom wood cabinetry, updated bathroom vanities, and dual‑pane windows; Central heating and air conditioning in every unit
