Single-Story Duplex with Private
New
For Sale
$1,950,000
645 Vasona Avenue, Los Gatos, CA 95032
Two three-bedroom residences feature private yards, in-unit laundry, and dedicated garage space.
Property Size2,397 SF
Lot Size0.16 Acres
Price / SF$813.52
Days on Market3
Property Features for 645 Vasona Avenue
General Information
Standard status
Active
Size
2,397 SF
Lot size
0.16 Acres
Property subtype
Multi Family
Units
Unit Mix
1 x 3BR/2BA, 1 x 3BR/1.5BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
heat pump HVAC system
private garages
private yards
in-unit laundry
fireplace
Building Details
Year Built
1965
Stories
1
Listing Agency:
BellStreet Inc.
Listed By:
Amit Urban · License #01998926
(650) 282-0477
Source:
Exitrealty
Added: Sep 8
Changed: Sep 9
Last Checked: Sep 10 at 5:26AM
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 BellStreet Inc.
Investment Insights
Based on property information with market context.
This single-story duplex, built in 1965, contains approximately 2,397 square feet on a 7,130-square-foot lot. The unit mix includes one three-bedroom, two-bath residence and one three-bedroom, one-and-a-half-bath residence. Both units offer private garages, private yards, and in-unit laundry, while a newly installed heat pump HVAC system provides heating and cooling throughout the property. A fireplace adds another interior feature.
The property is located near Vasona Lake County Park and the Los Gatos Creek Trail, with downtown Los Gatos shops and restaurants a short distance away. Highways 17 and 85 provide access toward Silicon Valley employment centers and surrounding communities.
The property is located near Vasona Lake County Park and the Los Gatos Creek Trail, with downtown Los Gatos shops and restaurants a short distance away. Highways 17 and 85 provide access toward Silicon Valley employment centers and surrounding communities.
Key Highlights
- Two‑unit duplex with approximately 2,397 sq ft of building area
- 7,130 sq ft lot with a single‑story layout
- Unit mix includes 3‑bedroom, 2‑bath and 3‑bedroom, 1.5‑bath residences
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
$66,829
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
3.43%
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%
$1,336,580
$1.3M
Cap Rate 7%
$954,700
$954.7K
Cap Rate 9%
$742,544
$742.5K
Market Conditions
NOI Build-Up for 2,397 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
$97.8K $40.80/SF
− Vacancy
−$2.3K −$0.97/SF
EGI
$95.5K $39.83/SF
− OpEx
−$28.6K −$11.95/SF
NOI
$66.8K $27.88/SF
Area
Santa Cruz County, CA
Vacancy
2.38%
Lease Rate
$40.80 /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%
$1,336,580
Cap Rate 7%
$954,700
Cap Rate 9%
$742,544
Alternative Uses
Best Use
Multifamily LT 5
$954.7K
$835.4K – $1.11M
NOI $66,829 @ 7.0% cap · market cap 3.43%
Second Best
Apartment 5plus
$881.4K
$771.2K – $1.03M
NOI $61,699 @ 7.0% cap · market cap 3.16%
Theoretical Best
Retail
$1.37M
$1.20M – $1.60M
NOI $95,942 @ 7.0% cap · market cap 4.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,248
Businesses Nearby
Explore this area
Business Placement
Demographics for 95032, CA
28,109
Population
11,146
Households
2.5
Avg Household Size
45
Median Age
76%
College-Educated
98%
High-School Grad
18.7 sq mi
ZIP Area
1,503
Density / Sq Mi
$195,188
Median Household Income
$128,689
Median Earnings
$3,123
Median Rent
$2,000,001
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom residences feature private yards, in-unit laundry, and dedicated garage space.
Where is this duplex located?
The property is located at 645 Vasona Avenue Los Gatos, CA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Two‑unit duplex with approximately 2,397 sq ft of building area; 7,130 sq ft lot with a single‑story layout; Unit mix includes 3‑bedroom, 2‑bath and 3‑bedroom, 1.5‑bath residences
