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3691 Cape Cod Court, San Jose, California 95117, San Jose, 95117 - bed, bath

3691 Cape Cod Court, San Jose, California 95117 home-pic-0
ACTIVE$2,098,000$3,584/sqft
3691 Cape Cod Court, San Jose, California 95117
0Bed
0Bath
3,584Sqft
7,260Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Prime Location & Rental Market: Located in West San Jose's desirable rental corridor, close to downtown Campbell, Santana Row, and Valley Fair, ensuring strong tenant demand and investment stability.
Top Cons:
Property Age: Built in 1964, the property is over 60 years old, which despite extensive upgrades, may still present unforeseen maintenance challenges associated with an older structure.

Compared to the nearby listings

Price:$2.10M vs avg $1.68M (+$423,000)86%
Size:3,584 sqft vs avg 2,880 sqft57%
Price/sqft:$585 vs avg $52057%

More Insights

Built in 1964 (62 years old).
Condition: Despite being built in 1964, this fourplex has undergone extensive and recent renovations totaling over $275,000 since 2013. Major systems like plumbing (2024) and roof (2022) are new, and heating systems have been replaced. Most units have been updated within the last 5-15 years, with Unit 2 receiving an extensive remodel in 2024, featuring modern grey shaker cabinets, updated countertops, and tile flooring in the kitchen, and a contemporary bathroom. While some units show slightly older finishes (e.g., light wood cabinets and linoleum in one kitchen, brown carpet in some living areas), the property is well-maintained, move-in ready, and its critical infrastructure is within its expected lifespan due to recent replacements. This aligns with the 'Good' category's criteria for extensive renovations within the last 5-15 years and well-maintained systems.
Year Built
1964
Close
-
List price
$2.1M
Original List price
$2.1M
Price/Sqft
$585
HOA
-
Days on market
-
Sold On
-
MLS number
ML82029860
Home ConditionGood
Features
Deck
Patio
View-

About this home

This well-maintained fourplex represents a compelling entry point for first-time multifamily investors seeking stable cash flow in a proven rental market. Located in West San Jose's desirable rental corridor, the property offers four spacious units totaling 3,584 square feet on a 7,260 SF lot. Total monthly rental income of $10,828 provides immediate cash flow while rents remain positioned near current market rates, offering potential upside as leases turn. Exceptional capital investment totaling over $275,000 since 2013. The owner has methodically upgraded every major building system and unit interior. Most significantly, 2024 saw complete replacement of all plumbing infrastructure including drains, supply lines, and sewer systems. New roof in 2022. Most units have been renovated: Unit 2 received extensive remodeling in 2024 ($58,634), Unit 4 was updated in 2021 ($28,147), Unit 3 in 2017 ($16,580), and Unit 1's townhouse configuration saw kitchen/bath upgrades in 2013 plus recent downstairs bathroom remodel in 2025 ($8,810). Additional improvements include new water heaters, exterior painting, comprehensive termite treatment with tree removal, front post replacement, and new heating systems. Close to downtown Campbell and under three miles from Santana Row and Valley Fair.

M
Michael Shields
Listing Agent

Price History

Date
Event
Price
12/23/94
Sold
$295,000
12/07/12
Sold
$901,000
Condition Rating
Good
Despite being built in 1964, this fourplex has undergone extensive and recent renovations totaling over $275,000 since 2013. Major systems like plumbing (2024) and roof (2022) are new, and heating systems have been replaced. Most units have been updated within the last 5-15 years, with Unit 2 receiving an extensive remodel in 2024, featuring modern grey shaker cabinets, updated countertops, and tile flooring in the kitchen, and a contemporary bathroom. While some units show slightly older finishes (e.g., light wood cabinets and linoleum in one kitchen, brown carpet in some living areas), the property is well-maintained, move-in ready, and its critical infrastructure is within its expected lifespan due to recent replacements. This aligns with the 'Good' category's criteria for extensive renovations within the last 5-15 years and well-maintained systems.
Pros & Cons

Pros

Prime Location & Rental Market: Located in West San Jose's desirable rental corridor, close to downtown Campbell, Santana Row, and Valley Fair, ensuring strong tenant demand and investment stability.
Significant Capital Improvements: Over $275,000 invested since 2013, demonstrating proactive ownership and reducing immediate capital expenditure for a new owner.
Major System Replacements: Recent replacement of all plumbing infrastructure (2024) and a new roof (2022), along with new water heaters and heating systems, significantly mitigates future large-scale repair costs.
Renovated Units: Most units have undergone recent renovations, including a major remodel in Unit 2 (2024), enhancing tenant appeal and justifying current/future rental rates.
Immediate Cash Flow & Upside Potential: Provides stable monthly rental income of $10,828 with rents positioned near market rates, offering immediate cash flow and potential for rent increases as leases turn.

Cons

Property Age: Built in 1964, the property is over 60 years old, which despite extensive upgrades, may still present unforeseen maintenance challenges associated with an older structure.
Limited Immediate Rent Upside: While there's 'potential upside as leases turn,' the current rents are described as 'near current market rates,' suggesting less immediate opportunity for significant rent increases upon acquisition compared to properties with substantially under-market rents.
High Entry Price for First-Time Investors: With a list price of $2.098 million, this represents a substantial initial investment, which might be a barrier for some 'first-time multifamily investors' despite the compelling cash flow.
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