Tenant-Occupied
New
For Sale
$1,199,000
Willis AVE, San Jose, CA 95126
Residential Income (2-4 units), Traditional, SAN JOSE, CA
Property Size1,980 SF
Lot Size0.13 Acres
Price / SF$605.56
Days on Market4
Property Features for Willis AVE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R2
Bedrooms
4
Rooms
Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 1
Parking features
On Street, Garage - Attached, Oversize
Subdivision
Central San Jose
Standard status
Active
Size
1,980 SF
Lot size
0.13 Acres
Utilities
Heating system
Wall Furnace
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Year built
1962
Number of units
2
Roof type
Composition
Architectural style
Other
Listing Agency:
Luxuriant Realty
(650) 246-9670
Listed By:
ANN VU · License #00955888
(408) 209-8881
Added: Sep 19
Last Checked: Sep 22 at 5:06PM
MLS# ML82060469
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.
Investment Insights
Based on property information with market context.
This duplex contains two separate residences totaling 1,980 square feet on a 0.128-acre lot. Both units are tenant occupied, providing an existing residential rental configuration. The property was built in 1962 and includes wall-furnace heating, wall-unit cooling, a composition roof, and public water service.
Located on Willis Avenue in San Jose, the property is identified as R2 zoning and includes attached oversized garage parking along with on-street parking. The two-unit layout supports separate household occupancy and maintains flexibility for an owner-occupant, extended-family arrangement, or continued rental use.
Located on Willis Avenue in San Jose, the property is identified as R2 zoning and includes attached oversized garage parking along with on-street parking. The two-unit layout supports separate household occupancy and maintains flexibility for an owner-occupant, extended-family arrangement, or continued rental use.
Key Highlights
- Two‑unit duplex with both residences currently tenant occupied
- 1,980 square feet on a 0.128‑acre lot
- R2 zoning in San Jose, CA 95126
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
$44,581
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
3.72%
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%
$891,620
$891.6K
Cap Rate 7%
$636,871
$636.9K
Cap Rate 9%
$495,344
$495.3K
Market Conditions
NOI Build-Up for 1,980 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
$66.5K $33.60/SF
− Vacancy
−$2.8K −$1.43/SF
EGI
$63.7K $32.17/SF
− OpEx
−$19.1K −$9.65/SF
NOI
$44.6K $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%
$891,620
Cap Rate 7%
$636,871
Cap Rate 9%
$495,344
Alternative Uses
Best Use
Multifamily LT 5
$636.9K
$557.3K – $743.0K
NOI $44,581 @ 7.0% cap · market cap 3.72%
Second Best
Apartment 5plus
$588.3K
$514.8K – $686.4K
NOI $41,184 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,705 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,707
Businesses Nearby
Explore this area
Business Placement
Demographics for 95126, CA
37,372
Population
16,936
Households
2.2
Avg Household Size
36
Median Age
55%
College-Educated
89%
High-School Grad
3.3 sq mi
ZIP Area
11,325
Density / Sq Mi
$127,297
Median Household Income
$72,722
Median Earnings
$2,544
Median Rent
$1,195,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 separate residences with current tenants, attached oversized garage parking, and R2 zoning in San Jose.
Where is this duplex located?
The property is located at Willis AVE San Jose, CA.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Two‑unit duplex with both residences currently tenant occupied; 1,980 square feet on a 0.128‑acre lot; R2 zoning in San Jose, CA 95126
