Four-Unit Multifamily Property with
For Sale
$1,950,000
846 Teresi Court, San Jose, CA 95117
Four residences provide varied layouts, garage parking, and access to major South Bay employment and retail destinations.
Property Size3,828 SF
Lot Size0.19 Acres
Price / SF$509.40
Days on Market8
Property Features for 846 Teresi Court
General Information
Standard status
Active
Size
3,828 SF
Lot size
0.19 Acres
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
1 x 3BD/2BA, 3 x 2BD/1BA
Multifamily Units
4
Building Details
Year Built
1966
Listing Agency:
HomeSmart PV and Associates
(559) 473-2555
Listed By:
Maria Fotopoulos · License #DRE #01454566
(559) 250-6740
Source:
Exitrealty
Added: Aug 27
Changed: Sep 2
Last Checked: Sep 2 at 2:14PM
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 HomeSmart PV and Associates
Investment Insights
Based on property information with market context.
This four-unit multifamily property was built in 1966 and occupies an 8,190-square-foot corner parcel. The approximately 3,828-square-foot property includes one 3BD/2BA residence with a 2-car garage, one 2BD/1BA residence with a 2-car garage, and two additional 2BD/1BA residences served by a shared garage.
The property is in West San Jose within the 95117 zip code. Santana Row, Westfield Valley Fair, and the Stevens Creek Boulevard corridor provide nearby retail, dining, entertainment, and services. Regional access includes I-280, Highway 17/I-880, San Tomas Expressway, and other major South Bay thoroughfares serving San Jose, Santa Clara, Campbell, Cupertino, and surrounding Silicon Valley communities.
The property is in West San Jose within the 95117 zip code. Santana Row, Westfield Valley Fair, and the Stevens Creek Boulevard corridor provide nearby retail, dining, entertainment, and services. Regional access includes I-280, Highway 17/I-880, San Tomas Expressway, and other major South Bay thoroughfares serving San Jose, Santa Clara, Campbell, Cupertino, and surrounding Silicon Valley communities.
Key Highlights
- Four‑unit multifamily property on an 8,190‑square‑foot corner parcel
- Approximately 3,828 square feet of building area; built in 1966
- Unit mix includes one 3BD/2BA and three 2BD/1BA 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
$86,190
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
4.42%
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%
$1,723,800
$1.7M
Cap Rate 7%
$1,231,286
$1.2M
Cap Rate 9%
$957,667
$957.7K
Market Conditions
NOI Build-Up for 3,828 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
$128.6K $33.60/SF
− Vacancy
−$5.5K −$1.43/SF
EGI
$123.1K $32.17/SF
− OpEx
−$36.9K −$9.65/SF
NOI
$86.2K $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%
$1,723,800
Cap Rate 7%
$1,231,286
Cap Rate 9%
$957,667
Alternative Uses
Best Use
Multifamily LT 5
$1.23M
$1.08M – $1.44M
NOI $86,190 @ 7.0% cap · market cap 4.42%
Second Best
Apartment 5plus
$1.14M
$995.3K – $1.33M
NOI $79,622 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$2.31M
$2.02M – $2.70M
NOI $161,829 @ 7.0% cap · market cap 8.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,385
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 - Four residences provide varied layouts, garage parking, and access to major South Bay employment and retail destinations.
Where is this quadplex located?
The property is located at 846 Teresi Court San Jose, 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: Four‑unit multifamily property on an 8,190‑square‑foot corner parcel; Approximately 3,828 square feet of building area; built in 1966; Unit mix includes one 3BD/2BA and three 2BD/1BA residences
