Two-Story Fourplex with
For Sale
$2,088,000
646 Rebecca WAY, San Jose, CA 95117
Income property with private outdoor space, on-site laundry, and separately metered utilities.
Property Size4,030 SF
Days on Market12
Property Features for 646 Rebecca WAY
General Information
Standard status
Active
Size
4,030 SF
Property subtype
Fourplex
Taxes and HOA fees
Annual Taxes
$19,591
Building Details
Building Size
4,030 SF
Year Built
1970
Listing Agency:
DPL Real Estate
(408) 621-5649
Listed By:
David Lillo · License #01803836
(408) 621-5649
Source:
Lynnnorth
Added: Aug 19
Changed: Aug 28
Last Checked: Aug 29 at 3:39PM
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 DPL Real Estate
Investment Insights
Based on property information with market context.
This 1970-built fourplex includes two ground-floor residences and two upper-level residences, creating a straightforward two-story configuration. The units feature spacious bedrooms, and the property includes community laundry on site. One residence has a private patio and a two-car garage, while the other three have assigned carport parking. Separate electric and gas meters serve the units.
The property is located in West San Jose near Mitsuwa grocery, Lion grocery, and additional amenities. Saratoga Avenue, freeways, and expressways are readily accessible. The surrounding area is served by Easterbrook Elementary, Easterbrook Middle, and Prospect High. A bike score of 76 indicates a very bikeable setting.
The property is located in West San Jose near Mitsuwa grocery, Lion grocery, and additional amenities. Saratoga Avenue, freeways, and expressways are readily accessible. The surrounding area is served by Easterbrook Elementary, Easterbrook Middle, and Prospect High. A bike score of 76 indicates a very bikeable setting.
Key Highlights
- Fourplex with 2 ground‑floor and 2 second‑floor units
- Unit 1 includes a private patio and 2‑car garage
- Three additional units have assigned carport parking
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
$90,738
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
4.35%
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%
$1,814,760
$1.8M
Cap Rate 7%
$1,296,257
$1.3M
Cap Rate 9%
$1,008,200
$1.0M
Market Conditions
NOI Build-Up for 4,030 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
$135.4K $33.60/SF
− Vacancy
−$5.8K −$1.43/SF
EGI
$129.6K $32.17/SF
− OpEx
−$38.9K −$9.65/SF
NOI
$90.7K $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%
$1,814,760
Cap Rate 7%
$1,296,257
Cap Rate 9%
$1,008,200
Alternative Uses
Best Use
Multifamily LT 5
$1.30M
$1.13M – $1.51M
NOI $90,738 @ 7.0% cap · market cap 4.35%
Second Best
Apartment 5plus
$1.20M
$1.05M – $1.40M
NOI $83,824 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$2.43M
$2.13M – $2.84M
NOI $170,369 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,851
Businesses Nearby
Explore this area
Business Placement
Demographics for 95117, CA
30,137
Population
11,226
Households
2.7
Avg Household Size
36
Median Age
44%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
13,103
Density / Sq Mi
$115,778
Median Household Income
$56,791
Median Earnings
$2,367
Median Rent
$1,425,200
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 - Income property with private outdoor space, on-site laundry, and separately metered utilities.
Where is this quadplex located?
The property is located at 646 Rebecca WAY San Jose, CA.
What is the asking price?
The asking price for this property is $2,088,000.
What are key features of this property?
This property features: Fourplex with 2 ground‑floor and 2 second‑floor units; Unit 1 includes a private patio and 2‑car garage; Three additional units have assigned carport parking
