Updated Duplex with Separate
For Sale
$1,399,000
Pending
870 Leigh Ave, San Jose, CA 95128
Two distinct units offer private outdoor areas, individual water metering, and garage-based laundry hookups.
Property Size1,786 SF
Days on Market181
Property Features for 870 Leigh Ave
General Information
Standard status
Pending
Size
1,786 SF
Total Parking Spaces
2
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$7,352
Amenities
laundry hookups
private patio
large backyard
Building Details
Tenancy
Multi
Listing Agency:
Bettencourt Real Estate Services
(408) 234-1988
Listed By:
David Bettencourt · License #01276526
(408) 234-1988
Source:
Exprealty
Added: Mar 4
Changed: Aug 31
Last Checked: Aug 31 at 6:34PM
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 Bettencourt Real Estate Services
Investment Insights
Based on property information with market context.
This duplex contains two non-adjoining residences with separate one-car garages and dedicated laundry hookups. The front unit offers two bedrooms and one bathroom, along with an updated interior and private patio. The rear unit provides three bedrooms, one bathroom, and a large backyard. Separate water meters serve the units, allowing each residence to be metered independently. Both units are occupied by tenants.
Located at 870 Leigh Ave in San Jose, the property is within walking distance of San Jose City College and a dual-language elementary school. The configuration provides distinct living spaces, private exterior areas, and garage access for each unit.
Located at 870 Leigh Ave in San Jose, the property is within walking distance of San Jose City College and a dual-language elementary school. The configuration provides distinct living spaces, private exterior areas, and garage access for each unit.
Key Highlights
- Two‑unit duplex with 1,786 square feet
- Front unit: 2 bedrooms, 1 bathroom, updated interior, and private patio
- Rear unit: 3 bedrooms, 1 bathroom, and large backyard
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
$40,213
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
2.87%
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%
$804,260
$804.3K
Cap Rate 7%
$574,471
$574.5K
Cap Rate 9%
$446,811
$446.8K
Market Conditions
NOI Build-Up for 1,786 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
$60.0K $33.60/SF
− Vacancy
−$2.6K −$1.43/SF
EGI
$57.4K $32.17/SF
− OpEx
−$17.2K −$9.65/SF
NOI
$40.2K $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%
$804,260
Cap Rate 7%
$574,471
Cap Rate 9%
$446,811
Alternative Uses
Best Use
Multifamily LT 5
$574.5K
$502.7K – $670.2K
NOI $40,213 @ 7.0% cap · market cap 2.87%
Second Best
Apartment 5plus
$530.7K
$464.4K – $619.2K
NOI $37,149 @ 7.0% cap · market cap 2.66%
Theoretical Best
Office A
$1.08M
$943.8K – $1.26M
NOI $75,503 @ 7.0% cap · market cap 5.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two distinct units offer private outdoor areas, individual water metering, and garage-based laundry hookups.
Where is this duplex located?
The property is located at 870 Leigh Ave San Jose, CA.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,786 square feet; Front unit: 2 bedrooms, 1 bathroom, updated interior, and private patio; Rear unit: 3 bedrooms, 1 bathroom, and large backyard
