4-Unit Apartment
851 Leigh Avenue, San Jose, CA 95128
For Sale
$1,775,000
ResidentialIncome, SanJose, CA
Property Size3,694 SF
Lot Size0.15 Acres
Price / SF$480.51
Days on Market113
Property Features for 851 Leigh Avenue
General Information
Property type
Property subtype
Zoning
Parking
Parking features
Appliances
Elementary school
High school
Elementary school district
High school district
Directions
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Individually Metered Utilities
Taxes and HOA fees
Tax Annual Amount
Utilities
Heating system
Cooling system
Water source
Amenities
common-area laundry facility
Building Details
Year built
Floors in Building
Number of units
Flooring type
Roof type
Buildings
Listing Agency:
SiliconValley MultiFamilyGroup
Listed By:
Michael Shields · License CA #01327546
(408) 356-1900
Added: Jul 25
Changed: Nov 10
Last Checked: Nov 13 at 11:06PM
MLS# ML82055552
Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 3,694-square-foot apartment property contains four units: one with four bedrooms and two bathrooms, plus three with two bedrooms and one bathroom each. Built in 1964 on a 6,534-square-foot lot, the building has stucco-over-wood-frame construction, a concrete perimeter foundation, copper plumbing, and a composition shingle roof. Gas and electricity are individually metered by unit. Shared laundry equipment transfers with the property, and parking includes four private garages and three additional spaces. Zoning is RM.
Located in Central/West San Jose, the property has access to retail services, employment centers, schools, and regional commuter routes. San Jose’s Apartment Rental Ordinance and Tenant Protection Ordinance apply to multifamily properties with three or more rental units.
Located in Central/West San Jose, the property has access to retail services, employment centers, schools, and regional commuter routes. San Jose’s Apartment Rental Ordinance and Tenant Protection Ordinance apply to multifamily properties with three or more rental units.
Key Highlights
- Four‑unit mix: one 4BD/2BA residence and three 2BD/1BA residences
- 3,694‑square‑foot building on a 6,534‑square‑foot lot
- Four private garages plus three on‑site parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$83,173
Cap Rate
4.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,663,460
$1.7M
Cap Rate 7%
$1,188,186
$1.2M
Cap Rate 9%
$924,144
$924.1K
Market Conditions
NOI Build-Up for 3,694 SF
Gross rent
$124.1K $33.60/SF
− Vacancy
−$5.3K −$1.43/SF
EGI
$118.8K $32.17/SF
− OpEx
−$35.6K −$9.65/SF
NOI
$83.2K $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 Rate 5%
$1,663,460
Cap Rate 7%
$1,188,186
Cap Rate 9%
$924,144
Alternative Uses
Best Use
Multifamily LT 5
$1.19M
$1.04M – $1.39M
NOI $83,173 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$1.10M
$960.4K – $1.28M
NOI $76,835 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$2.23M
$1.95M – $2.60M
NOI $156,164 @ 7.0% cap · market cap 8.80%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,404
Businesses Nearby
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Business Placement
Demographics for 95128, CA
34,776
Population
15,193
Households
2.3
Avg Household Size
38
Median Age
52%
College-Educated
90%
High-School Grad
3.9 sq mi
ZIP Area
8,917
Density / Sq Mi
$122,647
Median Household Income
$71,504
Median Earnings
$2,505
Median Rent
$1,214,500
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in San Jose, CA
Properties on Market for Quadplexes in San Jose
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - The residence mix comprises one four-bedroom unit and three two-bedroom units.
Where is this quadplex located?
The property is located at 851 Leigh Avenue San Jose, CA.
What is the asking price?
The asking price for this property is $1,775,000.
What are key features of this property?
This property features: Four‑unit mix: one 4BD/2BA residence and three 2BD/1BA residences; 3,694‑square‑foot building on a 6,534‑square‑foot lot; Four private garages plus three on‑site parking spaces
