551 Northlake Drive, San Jose, California 95117, San Jose, 95117 - 0 bed, 0 bath
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San Jose, California 95117
This Strategic Multi-Family Asset is listed at $1,830,000, representing a stable entry point aligned with its $1,825,838 Fair Market Value. Currently generating $95,580 annual gross income, the property maintains a Condition Rating of 4 with critical updates including a newer roof and siding. Located in a high-demand tech corridor near Apple and Google, the month-to-month tenancies provide immediate potential for market-rate adjustments. This well-maintained quadruplex is a low-risk acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-utility house-hack.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 551 Northlake Drive Subject | $1,830,000* List Price | 0 | 0 | 2,992 | $610 | - |
A 1112 Nottingham Place Sold | $1,550,000 | 0 | 0 | 2,372 | $653 | 0.8 mi |
B 3228 Neal Avenue Active | $1,850,000 List Price | 0 | 0 | 2,552 | $725 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property is a 1960 build with partial updates. While it features a newer roof, siding, and water heater (approx. 5 years old), the interior remains dated. Kitchens and bathrooms show older cabinetry and tile work, and popcorn ceilings are present throughout. Significant cracking in the concrete driveway and the age of the wall heating units suggest a need for minor repairs and modernization despite being well-maintained.
Centrally located in West San Jose near major employers like Apple, Google, and Netflix, ensuring high tenant demand and long-term appreciation potential.
The property is fully occupied with a gross annual income of $95,580, and the majority of month-to-month tenancies allow for immediate rent adjustments to market rates.
Significant upgrades within the last five years, including a newer roof, siding, water heater, and appliances, reduce the necessity for immediate large-scale capital expenditures.
The property has undergone multiple price reductions from an original list price of $1.95M to $1.83M, suggesting initial overpricing or extended days on market.
Built in 1960, the asset may require ongoing maintenance of older plumbing and electrical systems typical of properties from this era, despite recent cosmetic updates.
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.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 2,992 | 2,462 | 75% |
| Lot Size | 6,535 | 7,137.5 | 25% |
| Price | $1.83M | $1.65M | 75% |
| Price per sq ft | $612 | $655 | 25% |
| Built year | 1960 | 1961 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 152 | 172 | 50% |
Apr 16, 2026
$1,830,000
$1,888,000
-3% Price Drop
Initial Listing
Feb 21, 2026
$1,888,000
$1,950,000
-3% Price Drop
Initial Listing
Jan 14, 2026
$1,950,000
Initial Listing
Jul 14, 2020
$1,620,000
Public Record
Jun 30, 2005
$850,000
Public Record