551 Northlake Drive, San Jose, California 95117, San Jose, 95117 - bed, bath
551 Northlake Drive
San Jose, California 95117
Property Price
SUMMARY
Analysis of 551 Northlake Drive, San Jose, California 95117 is currently available with a list price of $1,888,000. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. Located in a high-demand neighborhood within the San Jose Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is move-in ready.
The property is well-maintained with significant recent capital improvements including a newer roof, siding, and water heater (approx. 5 years old). Interior units feature updated laminate flooring and newer appliances. While the 1960s build shows some aged architectural elements, the move-in ready condition and recent system updates meet the 'Good' criteria.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Silicon Valley Location
Centrally located near major tech hubs like Apple, Google, and Netflix, as well as Santana Row, ensuring high rental demand and strong long-term appreciation potential.
- Recent Capital Improvements
The property features a newer roof, siding, water heater, and appliances (approx. 5 years old), significantly reducing the need for immediate capital expenditures by the buyer.
- Immediate Cash Flow & Flexibility
Fully occupied with over $95,000 in annual gross income and mostly month-to-month leases, providing immediate returns with the flexibility to adjust to market rents or owner-occupy.
CONSRISKS & DEFICIENCIES
- 1960s Infrastructure
As a 1960s build, the property may require more frequent maintenance of aging plumbing or electrical systems compared to newer multi-family constructions.
- Inconsistent Interior Upgrades
Modern features like double-pane windows and laminate flooring are currently limited to first-floor units, suggesting a need for further investment to modernize the remaining units for maximum rent.
About 551 Northlake Drive
Well-maintained fourplex centrally located in the Northlake neighborhood of West San Jose. All four units are 2BR/1BA with $95,580 annual gross income. First-floor units feature double-pane windows and laminate wood flooring. Recent upgrades include newer roof, front siding, water heater, and appliances (approx. 5 years), and freshly painted exterior. Fully rented with majority month-to-month tenancies, providing immediate cash flow for owner-occupied or investors. Prime location near Apple, Google, Netflix, eBay, Santana Row, and major commute routes including Hwy 280/880, San Tomas, and Lawrence Expressway.
Property Details
Public Facts
- Property Type
- Quadruplex
- Year Built
- 1960
- Lot Size
- 6,535 Sq. Ft.
Interior
- Total Bedrooms
- -
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 50% |
| Baths | - | - | 50% |
| Square foot | 2,992 | 2,223 | 67% |
| Lot Size | 6,535 | 7,137.5 | 17% |
| Price | $1.89M | $1.64M | 83% |
| Price per sq ft | $631 | $655 | 33% |
| Built year | 1960 | 1961 | 33% |
| HOA | $0 | $0 | 50% |
| Days on market | 52 | 147 | 17% |
Pricing History
Listed for Sale
Feb 21, 2026
$1,888,000
$1,950,000
-3% Price Drop
Initial Listing
Price Change
Jan 14, 2026
$1,950,000
Initial Listing
Sold
Jul 14, 2020
$1,620,000
Public Record
Sold
Jun 30, 2005
$850,000
Public Record