Fourplex with Mixed Unit
For Sale
$1,775,000
851 Leigh Avenue, San Jose, CA 95128
ResidentialIncome, SanJose, CA
Property Size3,694 SF
Lot Size0.15 Acres
Price / SF$480.51
Days on Market89
Property Features for 851 Leigh Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM
Parking
2
Parking features
Garage, Assigned
Appliances
Dishwasher, ExhaustFan, GarbageDisposal, HoodOverRange, OvenRange, Refrigerator, WasherDryer
Elementary school
CampbellUnionElementary
High school
CampbellUnionHigh
Elementary school district
CampbellUnionElementary
High school district
CampbellUnionHigh
Directions
Between Fruitdale and Kingman
Subdivision
CentralSanJose
Standard status
Active
APN
282-40-004
Size
3,694 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Annual Amount
24035
Utilities
Heating system
Forced Air, Central
Cooling system
Ceiling Fan(s)
Water source
Public
Amenities
common-area laundry facility
Building Details
Year built
1964
Floors in Building
2
Number of units
4
Flooring type
Linoleum, Carpet, Tile
Roof type
Composition, Shingle
Listing Agency:
SiliconValley MultiFamilyGroup
Listed By:
Michael Shields · License #01327546
(408) 356-1900
Added: Jul 25
Changed: Oct 21
Last Checked: Oct 21 at 10:06AM
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 RM-zoned fourplex contains 3,694 square feet across four residences: one 4-bedroom, 2-bathroom unit and three 2-bedroom, 1-bathroom units. 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 pitched composition shingle roof. A shared laundry area includes equipment that transfers with the property. Gas and electricity are separately metered for each residence.
Parking comprises four private garages and three additional spaces on site. The owner handles water and sewer, refuse service, common-area utilities, landscaping, maintenance, property taxes and insurance. The property is subject to San Jose's Apartment Rental Ordinance and Tenant Protection Ordinance, which apply to multifamily properties with three or more rental units in the city.
Parking comprises four private garages and three additional spaces on site. The owner handles water and sewer, refuse service, common-area utilities, landscaping, maintenance, property taxes and insurance. The property is subject to San Jose's Apartment Rental Ordinance and Tenant Protection Ordinance, which apply to multifamily properties with three or more rental units in the city.
Key Highlights
- Four residences: one 4BD/2BA unit and three 2BD/1BA units
- 3,694‑square‑foot building on a 6,534‑square‑foot lot
- Four private garages plus three additional 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
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,404
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Four homes share a laundry room, with individual gas and electric meters and a combination of garage and on-site parking.
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 residences: one 4BD/2BA unit and three 2BD/1BA units; 3,694‑square‑foot building on a 6,534‑square‑foot lot; Four private garages plus three additional on‑site parking spaces
