Four-Unit Multifamily
851 Leigh Ave San Jose, CA 95128
New
For Sale
$1,825,000
Four individually metered units with private garages and common-area laundry on a stucco wood-frame building.
Property Size3,694 SF
Lot Size0.15 Acres
Price / SF$494.04
Days on Market3
Property Features for 851 Leigh Ave
General Information
Standard status
Active
Size
3,694 SF
Lot size
0.15 Acres
Property subtype
Investment
Building Details
Year Built
1964
Listing Agency:
Silicon Valley Multifamily Group
(408) 356-1900
Listed By:
Michael Shields · License #01327546
(408) 356-1900
Source:
Elliman
Added: Jul 27
Changed: Jul 28
Last Checked: Jul 29 at 9:45AM
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 Silicon Valley Multifamily Group
Investment Insights
Based on property information with market context.
This four-unit multifamily property includes one larger four-bedroom, two-bath unit of approximately 1,200 square feet and three two-bedroom, one-bath units of approximately 800 square feet each. Parking is provided by four private garages plus three additional on-site spaces. A common-area laundry facility with equipment transfers with the property.
Constructed in 1964, the building is approximately 3,694 square feet and sits on a 6,534-square-foot lot. The improvements consist of stucco over wood-frame construction on a concrete perimeter foundation, with copper plumbing and a pitched composition shingle roof. Each unit is individually metered for gas and electricity.
The owner is responsible for water and sewer service, trash collection, common-area utilities, landscaping, repairs and maintenance, property taxes, and insurance. The property is located in Central/West San Jose with access to retail services, major employment centers, schools, and regional commuter routes. As a multifamily property with three or more rental units in the City of San Jose, it is subject to the City’s Apartment Rental and Tenant Protection Ordinance.
Constructed in 1964, the building is approximately 3,694 square feet and sits on a 6,534-square-foot lot. The improvements consist of stucco over wood-frame construction on a concrete perimeter foundation, with copper plumbing and a pitched composition shingle roof. Each unit is individually metered for gas and electricity.
The owner is responsible for water and sewer service, trash collection, common-area utilities, landscaping, repairs and maintenance, property taxes, and insurance. The property is located in Central/West San Jose with access to retail services, major employment centers, schools, and regional commuter routes. As a multifamily property with three or more rental units in the City of San Jose, it is subject to the City’s Apartment Rental and Tenant Protection Ordinance.
Key Highlights
- Four‑unit multifamily on a 6,534 SF lot with a 3,694 SF stucco wood‑frame building built in 1964
- Unit mix includes one approx. 1,200 SF 4BR/2BA unit and three approx. 800 SF 2BR/1BA units
- Each unit is individually metered for gas and electricity
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $124.1k | $33.60 |
| − Vacancy | −$5.3k | −$1.43 |
| EGI | $118.8k | $32.17 |
| − OpEx | −$35.6k | −$9.65 |
| NOI | $83.2k | $22.52 |
3,694 SF · lease $33.60/SF/yr · vacancy 4.27% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.19M
$1.04M – $1.39M
NOI $83,173 @ 7.0% cap · market cap 4.56%
Second Best
Apartment 5plus
$1.10M
$960.4K – $1.28M
NOI $76,835 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$2.23M
$1.95M – $2.60M
NOI $156,164 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Four individually metered units with private garages and common-area laundry on a stucco wood-frame building.
Where is this quadplex located?
The property is located at 851 Leigh Ave San Jose, CA.
What is the asking price?
The asking price for this property is $1,825,000.
What are key features of this property?
This property features: Four‑unit multifamily on a 6,534 SF lot with a 3,694 SF stucco wood‑frame building built in 1964; Unit mix includes one approx. 1,200 SF 4BR/2BA unit and three approx. 800 SF 2BR/1BA units; Each unit is individually metered for gas and electricity
