R4-Zoned Multifamily
For Sale
Contact for pricing
91 W Reed Street, San Jose, CA 95110
The property carries R4 zoning and dates to 1960.
Property Size3,066 SF
Price / SF$553.82
Days on Market8
Property Features for 91 W Reed Street
General Information
Standard status
Active
Size
3,066 SF
Property subtype
Multifamily
Zoning
R4
Building Details
Year Built
1960
Units
7
Listing Agency:
Meacham Oppenheimer
Listed By:
keon vossoughi · License #CA #01019117
Source:
Crexi
Added: Aug 31
Changed: Sep 4
Last Checked: Sep 6 at 2:28PM
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 Meacham Oppenheimer
Investment Insights
Based on property information with market context.
This multifamily property is located at 91 W. Reed Street in San Jose, California. The property carries an R4 zoning designation and was built in 1960. The listed property size is 3066.
Key Highlights
- R4 zoning designation
- Built in 1960
- Listed property size of 3066
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
$63,772
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
3.76%
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%
$1,275,440
$1.3M
Cap Rate 7%
$911,029
$911.0K
Cap Rate 9%
$708,578
$708.6K
Market Conditions
NOI Build-Up for 3,066 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
$121.4K $39.60/SF
− Vacancy
−$5.5K −$1.78/SF
EGI
$115.9K $37.82/SF
− OpEx
−$52.2K −$17.02/SF
NOI
$63.8K $20.80/SF
Area
San Jose, CA
Vacancy
4.50%
Lease Rate
$39.60 /SF/Yr
Expense Ratio
45.00%
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%
$1,275,440
Cap Rate 7%
$911,029
Cap Rate 9%
$708,578
Alternative Uses
Best Use
Apartment 5plus
$911.0K
$797.2K – $1.06M
NOI $63,772 @ 7.0% cap · market cap 3.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.85M
$1.62M – $2.16M
NOI $129,616 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,357
Businesses Nearby
Explore this area
Business Placement
Demographics for 95110, CA
20,495
Population
7,568
Households
2.7
Avg Household Size
35
Median Age
40%
College-Educated
81%
High-School Grad
4.6 sq mi
ZIP Area
4,455
Density / Sq Mi
$132,800
Median Household Income
$60,241
Median Earnings
$2,629
Median Rent
$947,900
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?
Multifamily property - The property carries R4 zoning and dates to 1960.
Where is this multifamily property located?
The property is located at 91 W Reed Street San Jose, CA.
What is the asking price?
The asking price for this property is $1,698,000.
What are key features of this property?
This property features: R4 zoning designation; Built in 1960; Listed property size of 3066
